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Europe will prevail as Dominant Region in Global Resilient Flooring Market || Key Players: Congoleum, Berkshire Hathaway Inc., Beaulieu International Group N.V.,

03-06-2019 01:59 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Europe will prevail as Dominant Region in Global Resilient

 Rapid urbanization and industrialization has resulted into immediate and high requirement for resilient flooring across industrial areas, IT parks, and housing projects. Substantially increasing number of home improvement & renovation activities on account of changing consumer trends as well as lifestyles has meant that resilient flooring is witnessing high demand in the residential sector. In addition, fiberglass flooring has been gaining high momentum recently, which can be attributed to its properties namely, excellent durability and lightweight.

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Superior insulation properties of fiberglass because of presence of reinforced materials has further complemented its demand. A large number of technological advancements as well as product developments have been made by manufacturers of resilient flooring products, in order to enhance the performance of their products. Environment—friendly flooring that include rubber, cork, hardwood, bamboo, glass, and linoleum are witnessing significant demand in residential and non-residential spaces, thereby influencing growth of the global market for resilient flooring in the near future.

A recently published report of Fact.MR projects a steady 5.5% CAGR, in terms of volume, for the resilient flooring market between the period 2017 and 2026. More than US$ 10,000 Mn worth of resilient flooring is forecast to be sold globally by 2026-end.

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On the basis of material type, vinyl will remain preferred among end-users of resilient flooring across the globe. Vinyl flooring is robust, durable and facilitates maintenance. In addition, vinyl flooring is environment friendly, and comparatively more cost-effective than all other types of materials used for resilient flooring. However, revenues from rubber flooring will increase at a relatively higher CAGR through 2026.

Although non-residential end-users are set to account for a comparatively larger revenue share of the market than residential end-users, the latter are projected to exhibit a relatively faster expansion in the market through 2026. Based on construction activity, resilient flooring are likely to witness the highest demand in renovation activities globally.

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Competition in the global resilient flooring market is expected to rise, with players focusing on gaining competitive advantage and increasing their market foothold. Key players identified by the report that are underpinning the market expansion include Tarkett, Mannington Mills, Inc., Mohawk Group, Congoleum, Berkshire Hathaway Inc., Beaulieu International Group N.V., Forbo Holding AG, Armstrong Flooring, Burke Industries, Inc., and Karndean International Limited. Resilient flooring manufacturers are inclining their concentration toward developing innovative products coupled with making improvements in advertisement, such as online catalogue. Production capacity expansion, joint venture, product portfolio enhancement, and mergers & acquisitions are likely to remain key strategies employed by players in the global resilient flooring market.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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