The global non-resilient flooring market to grow at a CAGR of 3.25% during the period 2018-2022.
Global Non-Resilient Flooring Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is the rapid growth in residential construction activities around the world. The demand for non-resilient flooring is increasing due to growing investments in construction activities in emerging economies such as India, China and South East Asian countries. The US and Western Europe is also witnessing a steady growth in residential construction.
Glueless locking system is gaining popularity among non-resilient flooring companies and consumers owing to its improved efficiency, low installation costs and minimal carbon footprint. Glueless locking systems use a single piece, drop lock installation technique, thereby eliminating the need for additional floor inserts. Thus, the use of glueless locking system in laminate flooring will be a major trend contributing to the growth of non-resilient flooring market.
Further, the report states that one of the major factors hindering the growth of this market is the growing shift towards resilient flooring materials such as luxury vinyl tiles (LVT). Owing to low maintenance and better sustainability, consumers are preferring LVT products over non-resilient flooring. Thus, the growing popularity of the resilient flooring products is bound to impact the growth of the non-resilient flooring market.