SELBYVILLE, Del., June 30, 2020 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on the flooring market which estimates the market valuation for flooring will cross US$ 482 billion by 2026. The availability of several flooring solutions with customization of material, design, dimensions, and colors has provided a wide range of options to end-user. This will positively impact the market growth over the forecast timeframe.
Growing urbanization and disposable income have enhanced customer lifestyle and preferences. Further, rising focus towards home decor, coupled with improving lifestyles, is anticipated to boost the global flooring market. An upsurge in the refurbishment trend and improvement in residential construction are further supporting the flooring market's expansion over the forecast timeframe.
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Rising awareness about raw materials used in product manufacturing and its adverse impact on humans and the environment are pressuring manufacturers to develop environmentally friendly products. Further, stringent certification processes, such as Cradle to Cradle (C2C) certification, are requiring the usage of innovative materials to minimize adverse impacts on the environment. Several manufacturers are engaged in the development of C2C certified products to enhance their sustainability. For instance, in August 2017, Tarkett announced that the company's iQvOnne flooring solution received C2C certification.
Resilient flooring showcases the highest growth rate and is expected to grow by over a 9% CAGR till 2026. The resilient floorings are popular, owing to being low maintenance and the durable, cost-effective and waterproof properties of products. Furthermore, superior heat and liquid resistance properties of resilient flooring, on account of the presence of reinforced materials, will promote the product usage in the industry. Technological developments, along with ongoing product development to improve the performance of resilient flooring, will further drive the market growth.
The commercial segment will witness rapid growth and is expected to generate over USD 135 billion by 2026. The growth is owing to increasing hospitality and a proliferating service sector, particularly in emerging countries. Urbanization, population growth and changing environmental impacts have resulted in the successful adoption of products providing solutions for market growth. Commercial applications include healthcare, education, warehouses, distribution centers etc. Furthermore, the retail sector, including banks, departmental stores and supermarkets, will boost the overall product penetration.
Browse key industry insights spread across 165 pages with 201 market data tables & 29 figures & charts from the report, "Flooring Market Share & Forecast, 2020 – 2026" in detail, along with the table of contents:
Some of the major findings in the flooring market report include:
- The market is highly fragmented in nature, with the presence of several domestic and international flooring manufacturers.
- Increasing construction spending across the globe will support flooring industry expansion.
- Growing disposable income coupled with rising urbanization are supporting the market growth.
- Industry players are focused on product development, geographic expansion, scaling up production of flooring products, and cost optimization strategies over the long run.
The Asia-Pacific flooring market will witness infrastructural advancement in China, Japan and India that will positively stimulate product penetration in the region. The region is expected to witness a growth rate of around 8% from 2020 to 2026. Infrastructural development in the commercial and industrial sector of China is driving regional demand. An upsurge in residential building projects in emerging countries will further contribute to the growth. India has a share of more than 10% in the region. Rising government spending for advanced and green infrastructure will present high-potential growth opportunities in the coming years.
Browse the complete report table of contents at https://www.gminsights.com/toc/detail/flooring-market-size
Partial chapters of the report's table of contents (TOC):
Chapter 3. Flooring Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.2.1. COVID-19 impact on industry landscape
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
22.214.171.124. COVID-19 impact on raw material supply
3.3.2. Distribution channel analysis
3.3.3. Value chain disruption analysis (COVID-19 impact)
3.3.4. Vendor matrix
3.4. Regulatory landscape
126.96.36.199. ADA Standards – Chapter 3: Floor and Ground Surfaces
188.8.131.52. ANSI Standards
184.108.40.206. 1752: Floor Laying and Other Floor Work, Not Elsewhere Classified
220.127.116.11. Construction Products Directive(Council Directive 89/106/EEC) (CPD)
18.104.22.168. European Norm for Laminate Floor Coverings 16-EN 13329
22.214.171.124. Indoor design
126.96.36.199. Public Sectors
188.8.131.52.1. Stairs and Elevators
184.108.40.206.2. Corridor, Entrance and Exit
220.127.116.11.3. Garbage Chute
18.104.22.168.4. Basement and Semi-basement
22.214.171.124.5. Public Annex
3.5. Industry impact forces
3.5.1. Growth drivers
126.96.36.199. Rise in construction spending
3.5.2. Industry pitfalls & challenges
3.5.3. Disposable OF WASTE
3.6. Growth potential analysis
3.7. Pricing analysis
3.7.1. Regional pricing
188.8.131.52. North America
184.108.40.206. Asia Pacific
220.127.116.11. Latin America
18.104.22.168. Middle East & Africa
3.7.2. Cost structure analysis
3.7.3. Pricing by application
3.7.4. COVID-19 impact on pricing
3.8. Porter's analysis
3.8.1. Threat of new entrants
3.8.2. Supplier power
3.8.3. Buyer power
3.8.4. Industry rivalry
3.8.5. Threat of substitutes
3.9. Competitive landscape, 2019
3.9.1. Global flooring market share analysis, 2019
3.9.2. Strategy dashboard
3.10. PESTEL analysis
3.11. COVID-19 impact on flooring demand by application
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Flooring Market size to surpass $482B by 2026
Flooring Market size is estimated to cross USD 482 billion by 2026, according to a new research report by Global Market Insights, Inc.
SOURCE Global Market Insights, Inc.