Flooring Market Size Worth $398.27 Billion By 2030: Grand View Research, Inc.

News provided by

Aug 08, 2022, 12:15 ET

SAN FRANCISCO, Aug. 8, 2022 /PRNewswire/ -- The global flooring market size is expected to reach USD 398.27 billion by 2030 and is expected to register a growth of 5.6% during the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to rising construction activities like the construction of new hospitals, residential spaces, office spaces, malls, and hotels to cater to the demand of the growing global population.

Key Industry Insights & Findings from the report:

The vitrified (porcelain) accounted for 27.6% of the total revenue of the flooring market in 2021. The market is estimated to reach USD 109.20 billion by 2030. This growth is attributed to the durable properties of porcelain, due to which it is highly preferred in residential and commercial structures.
The residential application segment accounted for 49.2% of the revenue share in 2021. This is owing to the rising population in developing countries and increased spending on residential buildings in developed countries.
The commercial application segment was estimated at USD 166.76 billion in 2021 and is expected to grow at a CAGR of 5.2% over the forecast period. This growth is attributable to growing commercialization and urbanization in developing regions in the Asia Pacific region.
The Asia Pacific region dominated the flooring market in 2021 with a market share of 44.96% and this trend is expected to continue over the coming years. The rising population in growing economies such as India, Saudi Arabia, Japan, and Indonesia is propelling the demand for flooring in the market.
The North American region contributed about 13.71% of the total revenue share in 2021. The flooring industry in North America is expected to witness significant growth over the coming years on account of the increasing construction of residential and commercial buildings in the region.

Read 108 page full market research report for more insights , "Flooring Market Size, Share & Trends Analysis Report By Product (Ceramic Tiles, Porcelain Tiles, Carpet, Vinyl, Luxury Vinyl Tile (LVT), Linoleum & Rubber), By Application, By Type, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Flooring Market Growth & Trends

The global flooring industry is growing owing to fast-paced economical and industrial development along with the growing population. In addition, the growing service sector and development of industrial clusters in emerging economies such as India are further expected to bolster the demand for flooring materials in commercial and industrial applications. Moreover, the robust industrialization and urbanization in the developing countries in the Asia Pacific and Africa have resulted in high pace construction activities, triggering the growth of the flooring market.

The construction industry in the Asia Pacific is forecasted to grow on account of the increasing per capita income, rapid urbanization, and expanding population. The expansion of residential, commercial, and industrial sectors on account of sustainable economic growth in the region is expected to boost construction activities, thereby, driving the flooring market over the forecast period.

The rising awareness regarding the use of eco-friendly building materials is estimated to propel the green retrofit or renovation activities of existing constructions in developed economies from North America and Europe. In addition, the increasing adoption of recyclable and reusable technologies by major players is expected to drive market growth over the forecast period.

Flooring products are used in numerous commercial building applications including offices, convenience stores, shopping malls, and the construction of other retail stores. The increasing construction of commercial buildings, such as drugstores, grocery, and big-box stores, over the past few years, is expected to benefit the segment growth over the forecasted period. Moreover, robust demand for office spaces, especially in urban areas of emerging economies, is also propelling demand for high-quality products in the flooring market.

The growing demand for luxury housing in European countries is one of the key drivers for the flooring market. Nearly all mid-sized and large cities such as Lisbon, Porto, Paris, Berlin, Frankfurt, Milan, and Madrid are witnessing an increase in luxury real estate investment. Furthermore, the renovation of dwellings in Europe is anticipated to create numerous opportunities for flooring vendors. Also, the booming hospitality industry in the European region is also contributing to the development of hotels, resorts, and restaurant chains which further contributes to the growth of the global flooring market. Moreover, the refurbishment and redevelopment activities in the European countries are expected to drive the market in the coming years.

Flooring Market Segmentation

Grand View Research has segmented the flooring market based on product, application, type, and region:

Flooring Market - Product Outlook (Volume, Million Square Meters; Revenue, USD Million; 2021 - 2030)

Ceramic Tiles
Vitrified (Porcelain) Tiles
Carpet
Vinyl
Luxury Vinyl Tiles (LVT)
Linoleum/Rubber
Wood & Laminate
Natural Stone
Other Flooring Materials

Flooring Market - Application Outlook (Volume, Million Square Meters; Revenue, USD Million; 2021 - 2030)

Residential
Commercial
Industrial

Flooring Market - Type Outlook (Volume, Million Square Meters; Revenue, USD Million; 2021 - 2030)

Resilient Flooring
Soft Coverings
Non-Resilient Floorings
Seamless Flooring

Flooring Market - Regional Outlook (Volume, Million Square Meters; Revenue, USD Million; 2021 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
UK
France
Italy
Spain
Russia
Romania
Czech Republic
Portugal
Ukraine
Slovakia
Hungary

Asia Pacific

China
India
Japan
South Korea
Australia
Indonesia
Philippines
Vietnam

Middle East & Africa

Saudi Arabia
UAE
Israel
Egypt
Qatar
South Africa
Morocco

Central & South America

Brazil
Argentina
Peru
Colombia
Chile

List of Key Players in Flooring Market

Mohawk Industries, Inc.
Tarkett, S.A.
AFI Licensing
Burke Flooring Products, Inc.
Firbo Flooring
Shaw Industries, Inc.
Interface, Inc
Gerflor
Mannington Mills, Inc.
Polyflor
RAK Creamics
Crossville Inc.
Atlas Concorde S.P.A.
Porcelanosa Group
Kajaria Ceramics Limited

Check out more related studies published by Grand View Research:

Resilient Flooring Market - The global resilient flooring market size is expected to reach USD 67.7 billion by 2028, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Product benefits including cost efficiency, lower maintenance, and improved aesthetics are anticipated to drive the demand for resilient floorings over the forecast period.
Flooring Adhesive Market - The global flooring adhesive market size is expected to reach USD 7.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028. The market is projected to be driven by a growing emphasis on luxury homes and increasing investments in the construction sector.
Wood And Laminate Flooring Market - The global wood and laminate flooring market size is expected to reach USD 90.46 billion by 2025, expanding at a CAGR of 5.3%, according to a new report by Grand View Research Inc. Factors such as the natural look and feel offered by solid wood flooring coupled with the growing need for aesthetic improvements in the construction interiors is likely to augment the growth.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter