Global Flooring Market Forecast to 2023: Market will Grow from USD 339.29 Billion in 2018 to USD 447.74 Billion by 2023
DUBLIN, May 16, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The researcher projects that the flooring market will grow from USD 339.29 Billion in 2018 to USD 447.74 Billion by 2023, at an estimated CAGR of 5.7%.
Increase in renovation & remodeling activities, rapid urbanization, and increase in investments in the construction industry drive the growth of the flooring market. The residential segment is projected to account for a larger share through 2023. Growing focus toward interior decoration and comfort, coupled with rising disposable income of people are expected to drive the demand for flooring in the residential industry.
The segmentation for this report is based on type, by material, end-use industry, and region. The non-residential industry is projected to be the faster-growing segment in the flooring market. In this sector, the demand for flooring is expected to be driven by higher spending on office spaces and other commercial & institutional constructions and greater focus toward employee comfort. Floors of non-residential buildings need to withstand heavy foot traffic and heavy furniture load.
On the basis of type, by material, the market has been segmented into carpets & rugs, resilient, and non-resilient. Each flooring type differs from each other on the basis of their material properties. In 2017, the non-resilient flooring segment accounted for the largest market share in the flooring market.
Non-resilient flooring includes ceramic tiles, wood, laminate, stone, marble, bamboo, and terrazzo. Due to their high durability, water-resistance, low maintenance, and reliability, non-resilient floors have become the top flooring solution for high traffic areas such as shopping malls and corporate centers. Furthermore, they find applications in healthcare centers, government offices, and sports institutes where expected footfall is high, as well as in residential buildings.
The ceramic tiles segment dominated the market in 2017, in terms of volume, as a result of its cost-effectiveness, water & stain resistance, durability, and environment-friendly properties. The vinyl segment is projected to grow at the highest CAGR during the forecast period; this is attributed to its low cost, low maintenance, and easy installation.
Asia Pacific dominated the market for flooring in 2017, in terms of value. China contributes a major share to the Asia Pacific flooring market. The increasing number of new housing units, increase in population, and significant investments in the infrastructural sector are driving the demand for flooring materials in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Flooring Market
4.2 Flooring Type Market, By Material
4.3 Flooring Market, By Type
4.4 Flooring Market, By End-Use Industry
4.6 Flooring Market, By Country & Type
4.7 Flooring Market: Geographic Snapshot
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Population & Rapid Urbanization
5.2.1.2 Increase in Investments in the Construction Industry
5.2.1.3 Rise in the Number of Renovation & Remodeling Activities
5.2.1.4 Rapid Industrialization
5.2.2 Restraints
5.2.2.1 Volatile Raw Material Prices
5.2.2.2 Rise in Health and Environmental Concerns
5.2.3 Opportunities
5.2.3.1 Growth of the Organized Retail Sector
5.2.3.2 Rise in Demand From Emerging Economies
5.2.4 Challenges
5.2.4.1 Disposal of Waste
6 Industry Trends
6.1 Introduction
6.2 Porter's Five Forces Analysis
6.3 Macroeconomic Indicators
6.3.1 Introduction
6.3.2 Trends and Forecast of GDP
6.3.3 Contribution of the Construction Industry to the GDP, By Country
6.3.4 Ceramic Tiles Production Across Regions (Million Square Meter)
7 Flooring Type Market, By Material
7.1 Introduction
7.2 Resilient Flooring
7.2.1 Vinyl
7.2.2 Others (Cork, Linoleum, Rubber, and Resin)
7.3 Non-Resilient Flooring
7.3.1 Ceramic Tiles
7.3.2 Wood
7.3.3 Laminate
7.3.4 Stone
7.3.5 Others (Bamboo, Terrazzo)
7.4 Soft Floor Covering/Carpets & Rugs
8 Flooring Market, By End-Use Industry
8.1 Introduction
8.2 Residential
8.3 Non-Residential
9 Flooring Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking
10.3 Competitive Scenario
11 Company Profiles
11.1 Mohawk Industries
11.2 Shaw Industries
11.3 Tarkett
11.4 Armstrong Flooring
11.5 Forbo
11.6 Gerflor
11.7 Interface
11.8 Beaulieu International
11.9 Toli Corporation
11.10 Milliken & Company
11.11 Other Players
11.11.1 Congoleum
11.11.2 Flowcrete
11.11.3 James Halstead
11.11.4 The Dixie Group
11.11.5 Victoria PLC
11.11.6 Mannington Mills
11.11.7 Balta Industries
11.11.8 Swiss Krono
11.11.9 LG Hausys
11.11.10 Parador
11.11.11 Invista
11.11.12 Oriental Weavers
11.11.13 Boa-Franc
11.11.14 Kajaria Ceramics
11.11.15 Nora Systems
For more information about this report visit https://www.researchandmarkets.com/research/b7k3j5/global_flooring?w=5
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article