Major players in the flooring market include Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., Kingspan Group Public Ltd. Company, Mannington Mills Inc., Mohawk Industries, Polyflor Ltd., Pergo, Shaw Floors , Tarkett, Beaulieu, Balta Flowcrete, Delconca, Instarmac, among others.
Selbyville, Delaware, Nov. 17, 2022 (GLOBE NEWSWIRE) —
Flooring market it is expected to surpass a valuation of $725 billion by 2032, according to latest research report by Global Market Insights Inc.
Growing urbanization presents an opportunity for the development of commercial and non-commercial infrastructure. As construction projects increase, the demand for building elements such as flooring will also increase by 2032. According to United Nations estimates, the number of people living in cities is expected to increase by 2.5 billion by 2050.
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The flooring market valuation from the soft flooring segment was valued at $90 billion in 2022. Soft floors offer a reasonable safety cover along with an aesthetic appeal, contributing to the growing consumer preference for these solutions over hard floors such as ceramic tile or stone. These flooring solutions are used for home furnishings, offices and carpeted areas to enhance their visual appeal. Additionally, growing consumer demand for multiple carpet designs and high-quality rugs, coupled with rising disposable incomes, will drive product usage.
The commercial flooring industry accounted for approximately $175 billion in 2022. Hospitals, shopping malls, rehab centers, etc. These are some of the industrial spaces where proper flooring is essential. The growing hospitality and service sectors, especially in developing countries, will spur the creation of modern infrastructure. Furthermore, the increase in population, urbanization and changing environmental impacts have pushed the use of sustainable construction elements, further influencing the dynamics of the market.
The European flooring market it is projected to represent approximately 4% CAGR between 2023 and 2032. The rapid increase in several industries including oil and gas, metals and mining is supporting the need for durable flooring solutions that can withstand various chemicals and high temperatures. Stricter government regulations to curb VOC emissions from some floor coverings such as laminate and PVC flooring may, however, inhibit regional sector growth.
Some of the major players in the flooring market include Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., Kingspan Group Public Ltd. Company, Mannington Mills Inc., Mohawk Industries, Polyflor Ltd., Pergo, Shaw Floors, Tarkett, Beaulieu, Balta Flowcrete, Delconca, Instarmac, Parador, The Dixie Group, Hyosung Swan Carpet, EGGER, SWISS KRONO Holding AG and Neuhofer, among others. Many of these companies are launching new products to broaden their product portfolios and strengthen their market position.
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Partial Summary (ToC) of the report:
Chapter 2 Executive Summary
2.1 360° Flooring Market Synopsis, 2018 – 2032
2.1.1 Business performance
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Insights into the flooring industry
3.1 Industry segmentation
3.2 Industry Size and Forecasts, 2018-2032
3.3 Analysis of the industrial ecosystem
3.4 Impact forces of the sector
3.4.1 Growth drivers
18.104.22.168 Increase in construction spending
22.214.171.124 Revitalization of the construction industry in Europe
126.96.36.199 Increase in construction activity in the Middle East and North Africa
188.8.131.52 Rapid growth of urban population, change in lifestyle and activities
3.4.2 Industry pitfalls and challenges
184.108.40.206 Waste disposal
3.5 Regulatory landscape
3.6 Analysis of growth potential
3.7 Regional price trends
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 Impact of COVID-19 on flooring by application
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