Global Flooring Industry Report 2023: A $510+ Billion Market by 2028 - Asia-Pacific is Forecast to Grow at the Highest Rate

DUBLIN, July 3, 2023 /PRNewswire/ -- The "Global Flooring Market by Material (Resilient, Non-Resilient (Ceramic tiles, Wood, Laminate, Stone), Soft-floor covering), End-use Industry (Residential, Non-residential), & Region (North America, Europe , APAC, MEA, South America) - Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering.

The flooring market is projected to grow from USD 331.9 billion in 2023 to USD 510.7 billion by 2028, at a CAGR of 9.0%

The growing population, rising per capita income, rapid industrialization, and infrastructural development have led to the growth of the construction industry, thereby driving the demand for flooring market.

By Material, Resilient flooring material accounted for the highest CAGR during the forecast period

Out of the three flooring material types (Carpets & rugs, Resilient and Non-resilient), resilient flooring is the fastest growing segment during the forecast period. Resilient flooring includes: Vinyl flooring and Others (cork, linoleum, rubber, and resin) flooring. Resilient flooring material is designed to be durable, flexible, and resistant to wear and tear.

In resilient material type flooring, vinyl flooring holds the largest market share and is also the fastest growing. Vinyl flooring is popular due to its versatility, low cost, and ease of maintenance. Resilient flooring is growing in popularity due to its durability, easy maintenance, wide range of design options, cost-effectiveness, comfort, safety, and advancements in manufacturing technology.

By End-Use Industry, Non-residential accounted for the highest CAGR during the forecast period

Out of the two end-use industries (residential, and non-residential), non-residential is the fastest growing segment during the forecast period. The non-residential flooring market is experiencing growth due to various factors. These include economic development and infrastructure investments, which create a demand for flooring solutions in commercial buildings.

Technological advancements have also led to the development of innovative and sustainable flooring materials. The non-residential sector's focus on design and aesthetics drives the need for a diverse range of flooring options. Additionally, safety, sustainability, and indoor air quality considerations contribute to the market's expansion.

Asia Pacific is projected to account for the highest CAGR in the flooring market during the forecast period

The Asia Pacific flooring market is witnessing growth propelled by factors such as rapid urbanization, robust economic growth, a construction boom, the rising middle class, growing emphasis on design and aesthetics, technological advancements, and government initiatives.

These elements drive the demand for flooring materials as urban areas expand, consumer purchasing power rises, and infrastructure projects flourish. The region's focus on quality, aesthetics, and sustainability plays a significant role in driving the growth of the flooring market in Asia Pacific.

Competitive landscape

The flooring market is dominated by large players, such as Mohawk Industries, Inc. (US), Tarkett (France), Forbo (Switzerland), Shaw Industries Group Inc. (Georgia), and Interface, Inc. (US). These companies have an extensive product portfolio and a wide presence across regions.

Key Attributes:

Key Companies

• Mohawk Industries 
• Shaw Industries
• Tarkett Voestalpine Ag
• Armstrong Flooring
• Nippon Steel & Sumitomo Metal Corporation
• United States Steel Corporation
• Interface (Sail)
• Tata Steel Limited
• Thyssenkrupp 
• Jfe Steel Milliken & Company Corporation

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Electrical Steel flooring Market
4.2 Electrical Steel flooring Market, by Application
4.3 Electrical Steel flooring Market: Major Countries
4.4 Asia-Pacific: Electrical Steel flooring Market, by Type & Country

5 Market Overview Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
6.3 Porter's Five Forces Analysis
6.4 Macroeconomic Indicators
6.5 Value Chain Analysis
6.2 Supply Chain Analysis
6.2.1 Prominent Companies
6.2.2 Small & Medium-Sized Enterprises
5.3 Range Scenario for Electrical Steel flooring Market
5.3.1 Optimistic Scenario
5.3.2 Pessimistic Scenario
5.3.3 Realistic Scenario
5.4 Trends and Disruptions Impacting Customers
5.5 Market Mapping/Ecosystem Map
5.6 Patent Analysis
5.6.1 Introduction
5.6.2 Methodology
5.6.3 Document Type
5.6.4 Insight
5.6.5 Top Companies/Applicants
5.6.6 Disclaimer
5.7 Technology Analysis
5.8 Tariff and Regulatory Landscape
5.9 Regulatory Bodies and Government Agencies (This Should be Listed as a Separate Section and Not Merged with the Regulatory Landscape Section
5.10 Pricing Analysis
5.10.1 Average Selling Trend prices by Region
5.10.2 Indicative Pricing Analysis by Material type average Selling Prices of Key Players
5.10.3 Average Selling Prices by Sub-Segment
5.11 Trade Analysis
5.12 Key Conferences and Events, 2022-2023
5.13 Key Stakeholders and Buying Criteria
5.14 Case Study Analysis

6 Electrical Steel flooring Market, by Material type
6.1 Introduction
6.2 Grain-Oriented Electrical Steel
6.3 Non-Grain-Oriented Electrical Steel
6.2.1 Vinyl
6.2.2 Rubber
6.2.2 Others
6.3 Non-Resilient Flooring
6.3.1 Ceramic Tiles
6.3.2 Wood
6.3.3 Laminate
6.3.4 Stone
6.3.5 Others
6.4 Soft Floor Covering/Carpets & Rugs

7 Electrical Steel flooring Market, by End-Use Industry application
7.1 Introduction
7.2 Residential transformers
7.3 Motors non-Residential
7.4 Inductors
7.5 Others

8 Electrical Steel Market, by End-Use Industry
8.1 Introduction
8.2 Energy
8.3 Automotive
8.4 Manufacturing
8.5 Household Appliances
8.6 Others

9 Electrical Steel flooring Market, by Region

For more information about this report visit https://www.researchandmarkets.com/r/udxqc2

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