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Flooring Market – Global Industry Analysis Report,
Share, Growth, Price Trends and Forecast, 2024:
Global Market Insights Inc.
The global Flooring Market share report provides numbers for applications and
regional segments of the industry covering historical as well as forecast data for
decision makers. Flooring Market size is estimated to exceed USD 450 Billion by
2024; according to a new research report by Global Market Insights, Inc.
Shifting focus on infrastructure development on residential, commercial, hospitability,
sports and healthcare industries will drive the flooring market growth. Necessity for
floor protection coupled with rising demand for efficient and visually appealing
products has enhanced the product demand.
Rising construction spending on residential as well as non-residential buildings
particularly in emerging nations will propel the industry growth. Global construction
spending is anticipated to reach USD 16 Trillion by 2024. China leads the global
infrastructure development with over USD 2 Trillion by 2024.
High product penetration in industrial applications including automobile, aerospace,
aviation and electronic appliances will propel the flooring market size. Rapid
urbanization accompanied by changing consumer lifestyles will create new
opportunities for industry demand.
Emergence of eco-friendly solutions along with rising demand for energy efficient
insulation will drive the business growth. Moreover, regulatory support along with
financial aids particularly for residential construction is expected to fuel the product
demand. Stringent regulations for sustainable and energy efficient buildings,
industrial safety particularly in developed nations will drive the flooring market.
LVT will witness CAGR over 6% up to 2024. Improved comfort, resilience,
environmental safety and ease of installation are the key properties fueling the
product penetration. Additionally, wide range product portfolio due to ease in
designing will open lucrative opportunities for business growth.
Increasing refurbishment trends along with developing construction technologies has
enhanced the product scope. Increasing disposal issues of floor coverings will pose
a key challenge for industry growth.
Global flooring market share was led by soft coverings with accounting for over 35%
in 2016. Rising demand for carpet & rugs particularly in housing and offices will drive
the demand. Reduced noising effect and dust binding are the key properties
stimulating the product scope.
China Flooring Market, By Product, 2012-2024, (USD Billion)
Industrial segment is expected to surpass USD 20 billion by 2024. Shifting
manufacturer preference towards product enduring heavy duty operations will
support the industry demand. Rising demand from chemical, automotive, food,
manufacturing and transportation industries due to its benefits including abrasion
and impact resistance.
Residential application will witness growth over 5.5% up to 2024. Recovery of
housing sector particularly in the U.S. and Europe will fuel the product demand.
Increasing renovation projects along with rising demand for decorative floor
coverings are the major factors fueling the industry growth.
Europe flooring market was valued over USD 70 Billion in 2016. Increasing
construction output along with rising demand for green buildings are the key driving
factors of the industry growth. Economic development accompanied by inclination
towards tourism development will drive the regional demand.
APAC flooring market was worth more than USD 110 billion in 2016. Growing
population has enhanced the demand for residential constructions particularly in
China and India. Increasing manufacturing facilities due to socio economic benefits
will propel the product demand from industrial applications.
North America flooring market is expected to witness growth over 5% up to 2024.
Growth in construction industry along with increasing investment on restoration of
deficient structures will drive the regional demand.
Global industry share mainly includes Mohawk Industries, Tarkett, Shaw Floors,
Armstrong, Mannington Mills and Marazzi Group. Presence of large number of
regional manufacturers keeps the global industry share fragmented. Product
innovations, portfolio expansion, joint ventures and acquisitions are the major
Segmentation of Flooring Market:
Flooring market research report includes in-depth coverage of the industry with
estimates & forecast in terms of volume in Billion Square Feet & revenue in USD
Billion from 2012 to 2024, for the following segments:
Flooring Market by Product
• LVT (Luxury Vinyl Flooring)
• VCT (Vinyl Composite Tile)
• Vinyl sheet
• Others (Cork, asphalt flooring)
• Ceramic flooring
• Stone flooring
• Others (Wood, laminate)
Flooring Market by Application
The above information is provided on a regional basis for the following:
• South Korea
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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Global Market Insights, Inc.
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