Commercial Flooring Global Market Report 2023

NEW YORK, March 28, 2023 /PRNewswire/ -- Major players in the commercial flooring market are Mannington Mills Inc., Amtico International Inc., Mohawk Industries Inc., Armstrong Flooring Inc., Flowcrete, Forbo Holding AG, Interface Inc., Gerflor SAS, Hanwha Group, Congoleum Corporation, NOX Corporation, Milliken & Company, LX Hausys, Tarkett S.A., Nora Systems Inc., and James Halstead plc.

Read the full report: https://www.reportlinker.com/p06433540/?utm_source=PRN

The global commercial flooring market grew from $59.18 billion in 2022 to $63.02 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial flooring market is expected to grow to $77 billion in 2027 at a CAGR of 5.1%.

The commercial flooring market consists of the sale of broadlooms, carpets, and rugs.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Commercial flooring is a durable flooring material made from a combination of natural and synthetic polymer materials.It's found everywhere from hotel lobbies and office foyers to schools and hospitals.

It is rapidly being adopted in more and more places due to its design and material innovations.

North America was the largest region in the commercial flooring market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the commercial flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of products in commercial flooring are soft covering flooring, resilient flooring, non-resilient flooring, seamless flooring, and wood and laminate.Soft covering flooring is a secondary flooring that is installed over hard flooring.

The different distribution channels involved are retail, and wholesale and distributor business trends and are used for healthcare, education, hospitality, retail, public buildings, and other applications.

Rapid urbanization is driving the growth of the commercial flooring market going forward.Urbanization refers to the shift of population from the countryside to the cities.

This shift in population has resulted in the added requirement for housing and commercial businesses that have created an opportunity for increasing construction, thereby in turn driving the commercial flooring market. For instance, according to a report by Addis Ababa University Ethiopian Institute of Architecture, Building Construction, and City Development, an Ethiopia-based university, the global urban population is projected to grow by 6.3 billion in 2050. Furthermore, according to the report titled World Cities Report 2022 published by the United Nations Human Settlement Programme, a Kenya-based body of the United Nations, presently urban areas are home to 55% of the world's population, and that figure is expected to grow to 68% by 2050. Therefore, the rise in urbanization drives the hook lifts and skips loaders market growth.

Product innovation has emerged as a key trend gaining popularity in the commercial flooring market.Offering innovative products enables companies to remain relevant in their markets while also growing and improving over time.

Major companies operating in the commercial flooring market are focused on offering innovative products to meet consumer demand.For instance, Welspun Flooring, an India-based flooring manufacturer for commercial and domestic use launched an anti-viral range of flooring solutions.

This flooring comes with a special coating of silver ion and titanium oxide that inhibits the growth of the virus by 99.68%, including the COVID-19 virus. Unique features of the flooring also include anti-bacterial, anti-fungal, and anti-microbial qualities. The anti-microbial layer shields the flooring against stains and discoloration brought on by bacteria and fungi, as well as the undesirable odour in carpet tiles. With this process, the products are additionally protected from microorganisms including home dust mites, algae, and fungi. It actively suppresses the growth of microorganisms inside items.

In December 2021, DFS Flooring, a US-based provider of commercial flooring products and services acquired Dynamic Commercial Flooring for an undisclosed amount.This deal is a part of DFS's strategy to achieve strategic growth and compete better in the commercial flooring market.

Dynamic Commercial Flooring is a US-based manufacturer of commercial flooring and also provides carpets, hardwood, and other varieties of flooring.

The countries covered in the commercial flooring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The commercial flooring market research report is one of a series of new reports that provides commercial flooring market statistics, including commercial flooring industry global market size, regional shares, competitors with commercial flooring market share, detailed commercial flooring market segments, market trends, and opportunities, and any further data you may need to thrive in the commercial flooring industry. This commercial flooring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Read the full report: https://www.reportlinker.com/p06433540/?utm_source=PRN

About Reportlinker

ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

Contact Clare: [email protected]

US: (339)-368-6001

Intl: +1 339-368-6001

SOURCE Reportlinker