Flooring and Carpets Market Rugged Expansion Foreseen by 2025
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Recovery of the construction industry in developed regions such as North America and Europe is expected to be one of the main drivers for the growth of the market over the next few years. In addition, increasing construction activities in emerging economies such as China, Brazil and India is expected to fuel the demand for floorings in this region. Moreover, increased consumer expenditure on interiors of houses, hotels and offices is expected contribute significantly to the growth of the market. More and more automobile manufacturers are strategically using carpets and floorings in automobiles to enhance the vehicle’s appearance. However, price volatility of raw materials such as polymers, rubbers and ceramic are expected to hamper the growth of the market. Development of innovative designed light weight carpets and floorings is expected to open opportunities for the growth of the market in the near future.
Market for ceramic tiles was significantly large in Asia Pacific and South America while the market for carpets was substantial in North America and Europe. Rapid industrialization and favorable economic conditions in Asia Pacific is expected to drive the construction market, which in turn is expected to bolster the demand for flooring and carpets over the forecast period. Demand for flooring and carpets are expected to be significant in the Americas over the same time period.
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Some of the key participants of the market include Armstrong World Industries, Autoneum Holding, Beaulieu Group, Dixie Group, FRITZ EGGER, Hangzhou Nabel Group, Interface Incorporated, Mohawk Industries, Oriental Weavers, RPM International and Suminoe Textile among others. The market is highly fragmented in nature owing to the presence of several small, medium and large-scale manufacturers.
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