Insights for 2023: Key Trends Impacting the Soft Covering Flooring Market

DUBLIN, Aug. 15, 2023 /PRNewswire/ -- The "Soft Covering Flooring - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The report titled "Commercial Flooring Market Analysis and Projections: 2022-2030" provides a comprehensive analysis of the global commercial flooring industry, with a focus on key regions such as the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

The analysis encompasses historical sales data from 2014 to 2021 and offers projections from 2022 to 2030. The report explores various types of commercial flooring, including soft coverings, resilient, non-resilient, seamless, wood & laminates, and their applications across sectors like public buildings, healthcare, commercial buildings, leisure & hospitality, retail, and education.

Key findings from the report highlight that the global market for Commercial Flooring is anticipated to grow from an estimated US$35.3 Billion in 2022 to a projected size of US$69.3 Billion by 2030, exhibiting a CAGR of 8.8% over the analysis period 2022-2030.

Notable trends include the projected 8.4% CAGR for the Soft Coverings segment, and a 9.4% CAGR for the Resilient segment over the same period, considering ongoing post-pandemic recovery.

The report's scope also extends to specific markets, with the US market estimated at US$9.6 Billion in 2022 and China forecasted to reach US$16.6 Billion by 2030 with a CAGR of 13.8%.

The study underscores the growth potential of various geographic markets, including Japan, Canada, and Germany, among others. In addition, the report presents new insights for 2023, covering topics such as the Russia-Ukraine war, global inflation, changes in China's COVID-19 policies, supply chain disruptions, global trade tensions, and the risk of recession. The report offers market presence analysis, competitor market shares, access to interactive updates, digital archives, and a research platform.

Global Soft Covering Flooring Market to Reach $130.5 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Soft Covering Flooring estimated at US$100 Billion in the year 2022, is projected to reach a revised size of US$130.5 Billion by 2030, growing at a CAGR of 3.4% over the analysis period 2022-2030.

Broadloom, one of the segments analyzed in the report, is projected to record 3.2% CAGR and reach US$93.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Carpet Tiles segment is readjusted to a revised 4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $27.2 Billion, While China is Forecast to Grow at 6.1% CAGR

The Soft Covering Flooring market in the U.S. is estimated at US$27.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$26.9 Billion by the year 2030 trailing a CAGR of 6.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 2.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

What's New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its 'bumpy' reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

A selection of companies mentioned in this report includes

• Abbey Carpet & Floor
• Beaulieu International Group
• Bentley Mills, Inc.
• Cargill, Incorporated
• Engineered Floors LLC
• Interface, Inc.
• Mannington Mills, Inc.
• Milliken & Company
• Mohawk Industries
• Shaw Industries Group, Inc.
• The Dixie Group, Inc.
• Trinseo S.A.

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

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SOURCE Research and Markets