PUNE, India, May 4, 2018 /PRNewswire/ --
The report "Flooring Market Type by Material (Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate)), End-use (Residential, Non-residential), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the flooring market size is estimated to grow from USD 339.29 Billion in 2018 to USD 447.74 Billion by 2023, at a CAGR of 5.7%. The market is projected to witness steady growth in the next few years, due to the rise in renovation & remodeling activities resulting from rapid industrialization and urbanization. Increase in investments in the construction industry, rise in population, and growing focus toward interior decoration are also some of the key factors driving the growth of the flooring market.
Browse 146 market data Tables and 36 Figures spread through 175 Pages and in-depth TOC on "Flooring Market"
Early buyers will receive 10% customization on this report
The vinyl segment is projected to grow at the highest CAGR during the forecast period.
Vinyl is one of the most versatile materials used in flooring. Its resistance to mold, mildew, and moisture makes it one of the most suitable flooring options for application areas where occasional spills and moisture are the major concerns. Its low cost and easy installation also contribute to its growing popularity in a range of residential and commercial applications. LVT (Luxury Vinyl Tile) is one of the popular forms of vinyl flooring and is gaining popularity as a versatile flooring solution, offering durability along with various design options. It offers cost advantages in terms of price as compared to other premium materials, owing to its minimal maintenance requirements and high durability. These factors contribute toward its increasing application in the corporate, hospitality, healthcare, and other commercial sectors.
Get PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=110789434
The residential segment is estimated to dominate the market, in terms of value, through 2023.
The residential segment dominated the market in 2017 and this trend is projected to continue through 2023, as a result of the demand for aesthetic flooring materials and growing trend toward interior decoration. Housing renovation and maintenance have increased steadily in the recent past and are expected to further increase in the coming years, owing to the increasing disposable income of people. These factors are expected to fuel the demand for flooring in the residential sector.
The Asia Pacific market for flooring is projected to grow at the highest CAGR from 2018 to 2023.
Asia Pacific is projected to be the fastest-growing market for flooring during the forecast period. The growth in the region can be attributed to the growing construction industry, supportive government policies & plans, and rapid urbanization. China is projected to grow at the highest CAGR in the Asia Pacific flooring market during the forecast period. The Middle Eastern & African market is projected to grow at the second-highest CAGR between 2018 and 2023.
The key players operating in the Flooring Market include Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), Forbo (Switzerland), Gerflor (France), Interface (US), Beaulieu International (Belgium), TOLI Corporation (Japan), and Milliken & Company (US). These players have an extensive product portfolio and a wide geographical presence. New product launches, expansions, investments, acquisitions, and partnerships are some of the major strategies adopted by key players operating in the flooring market.
Know more about Flooring Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/packaging
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets