ALBANY, New York, May 9, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Flooring (Carpets and Rugs, Wood, Resilient, Tiles and Others) Market for Residential, Commercial, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025." According to the report, the global market for flooring was valued at US$ 247.56 Bn in 2016 and is anticipated to reach US$ 429.25 Bn in 2025, expanding at a CAGR of 6.4% between 2017 and 2025.
Flooring is a building material that is used to provide a hygienic walking surface in a building and also to improve the aesthetic appearance of the building. Flooring is a versatile market with a wide product portfolio and are among the most important building materials. The flooring market is expected to expand significantly due to growth of the construction industry and increase in home improvement and renovation project activities. The global flooring market is anticipated to grow at a CAGR of 6.4% in terms of revenue during the next decade. Increase in residential constructions in emerging nations and reconstruction activities in mature economies in North America and Europe are the key drivers of the global flooring market. Environmental and health concerns regarding the use of certain harmful chemicals for manufacturing flooring products is the major restraint for the development of the flooring market. Most companies are adopting environmentally friendly and sustainable manufacturing practices in order to meet stringent governmental regulations
In terms of application, residential was the largest segment of the flooring market, accounting for over 62.0% share in 2016. New residential constructions as well as increasing remodeling activity is anticipated to boost demand for flooring products in this segment. The commercial and other applications segments are anticipated to grow at a CAGR of 4.8% and 5.2% respectively. Increasing urbanization and industrialization is likely to be primarily responsible for the growth of the commercial and other applications segments.
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Europe accounted for more than 20% of the total flooring market share in 2016. Germany, Turkey, UK and Italy were the major consumers of flooring products in Europe. Carpets & Rugs was the major flooring product consumed in North America accounting for over half of the flooring market. Asia Pacific is projected to grow at one of the fastest rate during the next decade with a CAGR of 6.7%. Growth in the consumption of flooring products was also high in the GCC region due to the implementation of several large commercial construction projects. Countries such as India, Nigeria and Brazil have a relatively smaller per capita consumption of flooring products and offer significant growth opportunities in the flooring market.
The global flooring market is highly fragmented with many companies holding a small share of the market. Key players operating in this market include Mohawk Industries, Inc., Shaw Industries Group, Inc., Tarkett Group, Mannington Mills, Inc., Avant Holding GmbH, Armstrong World Industries, Inc., and Boral Limited. In addition, there are several small players operating in the unorganized sector, especially in China.
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The report segments the global flame resistant fabrics market as follows:
Flooring Market: Product Analysis
- Carpets & Rugs
- Others (Laminate, Stone)
Flooring Market: Application Analysis
- Others (Industrial etc.)
Flooring Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- South Africa
Rest of MEA
Browse Other Related Market Research Reports:
- Wood Flooring Manufacturing Market: http://www.transparencymarketresearch.com/wood-flooring-manufacturing.html
- Hard Surface Flooring Market: http://www.transparencymarketresearch.com/hard-surface-flooring-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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