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Flooring Market share to grow at 6.8% CAGR from 2015 to 2022:
Innovations in the construction industry, increasing urbanization, and the changing
consumer lifestyle coupled with the rising demand for insulation is predicted to boost
the flooring market growth over the coming years. Development of hassle-free
installation techniques along with enhanced use of cost-effective, aesthetically
pleasing, durable, and ecofriendly flooring products by consumers are expected to fuel
the industry trends. In addition to this, the increase in the number of home renovation
projects is anticipated to be a key market driver over the coming years. As per Global
Market Insights Inc., “global flooring market size is predicted to exceed USD 400
billion by 2022, growing at a CAGR of 6.8% over the period of 2015-2022.”
Flooring solutions are used in commercial, industrial, and residential applications.
Residential sector is estimated to be dominant over the coming years with revenue
estimation of USD 220 billion by 2022. Heavy demand from the construction industry
coupled with growing number of home renovation projects is likely to spur the flooring
market share in the residential sector.
Flooring demand in commercial sector is projected to witness a CAGR of 6.5% over
2015-2022. Furthermore, flooring in industrial applications worth USD 12 billion in
2014, is estimated to exceed USD 20 billion by 2022.
Amongst the various kinds of floorings available in global industry, resilient flooring
market worth USD 60 billion in 2014, is expected to be a rapidly growing product
segment with a CAGR estimation of 7.5% over the period of 2015-2022. The fast
growth of this segment can be attributed to the factors like cost-effectiveness,
waterproofing property, durability, and low maintenance cost.
The soft coverings flooring market worth USD 90 billion in 2014 was the largest
revenue contributor and is forecast to touch USD 150 billion mark by 2022. Its growth
can be credited to its dust-binding properties and noise-reducing effects. These
products act as the best insulators, offering comfort and pleasing aesthetics to the
end-users. The non-resilient flooring market contributed over 30% of the overall
industry share in 2014.
The Asia Pacific flooring market size worth USD 100 billion in 2015 dominated the
industry growth and is estimated to touch USD 180 billion mark by 2022. Factors such
as growing industrialization, consumer lifestyle changes, new & key developments in
real-estate industry, expanding construction industry, and improvement in
infrastructure facilities are few of the factors projected to contribute towards the
regional growth. India and China are predicted to be the major revenue pockets.
The North America flooring market share worth USD 40 billion in 2014, is expected to
reach USD 69 billion mark by 2022 owing to the recovery in the housing industry which
has the positive impact on the regional growth.
Key industry participants include Shaw Industries, Pergo, Armstrong World Industries,
Polyfor Ltd, Mohawk Industries, Congoleum Corporation, Beaulieu Flooring America,
and Mannington Mills Inc.
China flooring market size by product, 2012-2022 (USD Billion)
Browse key industry insights spread across 140 pages with 75 market data tables &
61 figures & charts from the report, “Flooring Market Size By Application
(Commercial, Residential, Industrial), By Product (Seamless Flooring, Soft
Coverings, Non-resilient Flooring, Resilient Flooring) Industry Outlook Report,
Regional Analysis, Downstream Application Development Potential, Price
Trends, Competitive Market Share & Forecast, 2012 – 2022” in detail along with
the table of contents, please click on the link below:
Segmentation on Flooring Market:
Global Flooring Product Analysis (Volume, Billion Square Feet & Revenue, USD
Billion; 2012 - 2022)
Global Flooring Application Analysis (Volume, Billion Square Feet & Revenue, USD
Billion; 2012 - 2022
Global Flooring Regional Analysis (Volume, Billion Square Feet & Revenue, USD
Billion; 2012 - 2022)
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