Press release
Flooring Market: Flourishing Construction Industry in APAC Promising Fruitful Future
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In the near future, key market players are expected to invest strongly into the research and development of innovative products to carve a niche for themselves and gain ground over the intense competition. What is also expected to help them strengthen their foothold is resorting to online and offline marketing strategies as a means of raising awareness regarding their quality products. Beaulieu, Polyflor, Marazzi Group, Balta, Mannington Mills, Forbo, IVC Group, Pergo, Gerflor, Flowcrete, and Parador are some of the other prominent players worth a mention in the global flooring market.
Global Flooring Market to be worth US$429.5 bn by 2025
The established players of the flooring market work on high profitability with their esteemed quality products and are expected to maintain their marginal lead throughout the forecast period of 2017 to 2025. During the forecast period, the analysts of the report have projected the demand in the global flooring market to multiply at a notable CAGR of 6.40% and have estimated that the opportunities will translate into a revenue of US$429.5 bn by 2025. The global flooring market was evaluated to be worth US$247.5 bn in 2016.
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Based on product, the TMR report segments the global flooring market into wood, carpets and rugs, tile, resilient, stone, and laminate, with the tiles segment providing for the maximum demand in 2016 and foreseen to maintain its leading position throughout the forecast period. Increasing interest of urban population for interior decoration and their willingness to spend substantial chunk of earnings onto high quality tiles are aiding to the prosperity of the segment. Application-wise, the flooring market has been bifurcated into commercial, industrial, and residential. Geographically, analysts of the report highlight vastly populated region of Asia Pacific are the one that is showing greater promise.
Cost of Products Hindering Demand In-flow
On the other hand, high cost of the products as a result of forever increasing cost of raw materials and growing concerns regarding the disposal of waste are a few restraining factors obstructing the global flooring market from attaining its true potential. Nevertheless, the vendors of this market are expected to gain new opportunities from growing demand for replacement of old and damaged floors.
Get More Information @ http://globenewswire.com/news-release/2017/11/14/1185656/0/en/Global-Flooring-Market-to-be-worth-US-429-25-bn-by-2025-Transparency-Market-Research.html
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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