Flooring Market by Product and Application – Global Industry Analysis and Forecast to 2025, states that the flooring market is projected to be around $435.67 billion by 2025.
The Global Flooring Market was worth USD 250.12 billion in the year of 2016 and is anticipated to reach approximately USD 435.67 billion by 2025 while registering itself at a compound annual growth rate (CAGR) of 6.36% over the forecast period.
Flooring – Competitive Outlook and Trend Analysis:
Raw material providers, producers, and distributors are major participants in the market value chain. Key companies in the global flooring market include Mohawk, Mannington Mills Inc., Gerflor, Shaw Floors, and Armstrong. The global market is considerably consolidated with extreme competition; technological advancement is expected to be a crucial point for market growth over the forecast years.
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Mohawk Industries Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales of $2,577,014,000 against $2,453,038,000 a year ago. Operating income was $326,307,000 against $355,825,000 a year ago.
Mannington Mills, Inc. manufactures and markets residential and commercial sheet vinyl, luxury vinyl, laminate, hardwood, and porcelain tile floors, as well as commercial carpet and rubber.
Gerflor Ltd. creates, manufactures, and markets flooring products and interior finishes. It provides tiles and planks, sheet/roll products, multilayered and homogeneous floorings, DLW-linoleum floors, vinyl tiles and planks, fast track looselay tiles, static control floorings, safety and sports floorings, shower systems, wall coverings, wall protection and handrails, and accessories.
Shaw Industries Group, Inc. Presents at Gartner Project & Portfolio Management Summit – Maryland, Jun-12-2018 03:15 PM. Venue: National Harbor, Maryland, United States. Speakers: Chris Carpenter, Senior Planning Analyst at Shaw Industries.
Industry Trend Analysis:
Flooring is the universal term used for a permanent coating of a floor, or for the function of putting in such a floor coating. Floor coating is a term that broadly describes any coating material applied across a floor to offer a walking surface. Both terms are utilized in an interchangeable manner but floor coating concerns more to the loosely laid materials. Flooring Materials are broadly classified as laminate, carpet, stones, vinyl, and tile. These are used for industrial, residential and commercial building applications. The flooring products are accessible in an extensive range of design options and price rates.
Flooring – Product Outlook and Trend Analysis:
The product section is largely categorized into 4 types involving resilient flooring, seamless flooring, non-resilient flooring and soft coverings. Soft coverings are also referred as fabric coverings, and primarily comprise carpets and rugs. This segment conquered the market and described for around 50% of the total market share in 2013. These coverings render numerous benefits such as dust-binding characteristics, noise-reducing effect and also are referred to be excellent insulators furnishing pleasing, comfort as well as warm aesthetics. Resilient flooring is a combination of fillers, color, and binders. Resilient flooring types include wood, cork, rubber, linoleum, asphalt, and vinyl; these are cost effective, durable and need low maintenance. Non-resilient flooring embraces clay tile, ceramic tile, concrete tile, brick, and terrazzo stone. These floors usually withstand several conditions and need only dusting and mopping.
The flooring market is segmented as follows –
Flooring – By Product:
Carpets & Rugs
Flooring – By Application:
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Flooring – Application Outlook and Trend Analysis:
Flooring solutions are employed in commercial, industrial, and residential applications. Due to increasing demand from the construction market and amplified home renovation and improvement projects, the flooring products market for residential applications is anticipated to experience growth over the forecast years. Additionally, increase in demand for flooring solutions all over the residential section could be assigned with changing customer lifestyle and amplified disposable earnings. Commercial applications involve hospitality and leisure, healthcare, corporate, retail, education, sports and other. Growing demand in the construction business is projected to be the major driving factor for the global market over the next few years. Industrial applications comprise manufacturing plants, automotive industry, refineries, aviation hangars, etc.
Flooring – By Region:
North America – U.S, Canada, Mexico
Europe – Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific – Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World – Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Flooring – Regional Outlook and Trend Analysis:
Asia Pacific region is anticipated to witness considerable market growth owing to developing infrastructure amenities and rising real-estate industry. Furthermore, the region is projected to witness amplified demand for non-residential and residential building places, which can be credited to the urbanization and population growth. The region described for around 40% of the total market share in 2013. Europe region is also anticipated to witness extensive augment in market demand during the forecast period. This can be credited to the availability of easy installation techniques and ground-breaking construction solutions.
Flooring – ToC:
4.Flooring Market, By Product
5.Flooring Market, By Application
6.Flooring Market, By Region
The key market manufacturers for the global flooring market are Mohawk Industries, Mannington Mills, Inc., GERFLOR SAS, Shaw Industries Group, Inc., Interface, Inc., and Armstrong World Industries, Inc. By application, the market industry is classified as; Residential, Industrial and Commercial. According to product types, the global market is split into; Wood, Carpets & Rugs, Tiles, Resilient and Others (Stone, Laminate etc.) Geographically, the global flooring market is segmented in regions which are; Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), Europe (Germany, Spain, Italy, France, UK and Rest of Europe), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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Key Findings of the Flooring Market –
- The global flooring market was worth approximately USD 250.12 billion in 2016 and is estimated to reach around USD 435.67 billion by 2025 with a compound annual growth rate (CAGR) of 6.36% during the forecast years.
- In 2013, soft coverings ruled the demand of flooring and reported for around 35% of the total market share. Resilient flooring industry is anticipated to witness extensive growth during the next few years, as it presents benefits like easy installation, low maintenance, and cost effectiveness. Amplified demand for antibacterial and antimicrobial flooring is likely to impact the demand for resilient flooring favorably.
- In 2013, residential application segment was the major application part and reported for around 50% of the total market share. Due to rising demand all over the construction business and amplified home renovation and improvement projects, the global market in residential applications for flooring products is anticipated to experience growth during the forecast years.
- Asia Pacific region reported for around 45% of the global market demand in the year 2013 and is projected to persist dominating the global market during the next few years. This can be assigned to enlarged demand for non-residential and residential construction spaces owing to urbanization and growth of the population.
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