How Flooring Market Growing Rapidly…? Top Players are Mohawk Industries, Tarkett, Marazzi Group, Mannington Mills, Inc., Forbo Flooring Systems, Polyflor Ltd

The research report on Global Flooring Market provides the up-to-date market trends, the present market scenario, and the market forecast during 2018-2024. The complete analysis of Flooring market on the global scale provides key details in form of graphs, statistics and tables, which will help the market players in making key business decisions.

China and India to be the two protruding regions that would showcase tremendous growth. In this regard, China’s National Urbanization plan for the period 2014-2020, that revolves around the mission of settling more than 100 million urban inhabitants by the end of 2020, and which would raise the urbanization rate in China to 60%, is estimated to be one of the major initiatives influencing the regional flooring market trends.

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With established giants leading the way toward innovative products and solutions, it is certain that flooring market is certain to undergo a positive transformation in the coming years. In terms of commercialization, Global Market Insights, Inc., estimates flooring industry size to exceed a valuation of USD 450 billion by 2024. Extensive developments in manufacturing sector along with growing population have further propelled flooring industry proliferation in this belt.

Flooring market size has witnessed a rapid escalation in the emerging economies – Asia Pacific being one of the major names in the list of growth avenues. The reason behind APAC to become the preferred investment destination for market giants is quite overt- its expanding construction sector. As per reliable sources, APAC is projected to account for over 46% of the global construction market by 2020.

Flooring Market by Product:
• Soft coverings:
• Resilient flooring:
o LVT (Luxury Vinyl Flooring)
o VCT (Vinyl Composite Tile)
o Vinyl sheet
o Fiberglass
o Linoleum
o Others (Cork, asphalt flooring)

• Non-resilient flooring:
o Ceramic flooring
o Stone flooring
o Others (Wood, laminate)

• Seamless flooring:

Flooring Market by Application:
• Residential
• Commercial
• Industrial

Boasting a diversified product portfolio that encompasses soft flooring, resilient flooring, seamless flooring, and non-resilient flooring, flooring industry size in 2016, was almost USD 270 billion. Accounting for a sizable chunk of almost 35% of the overall industry share in 2016, soft covering emerged as one of the leading product domains in the global business space. The increasing demand for rugs and carpets in offices and housing complexes has phenomenally swayed the product penetration across major economies. Endorsed with a unique dust binding property and reduced noise effect, soft flooring market was almost USD 110 billion in 2016.

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The growth prospect of flooring market is forecast to be substantially high in the ensuing years, augmented by the expanding construction ecosystem. Robust increase in construction spending across industrial, commercial, and residential sectors has significantly upscaled market demand, especially across emerging nations. As per reliable estimates, global construction spending is expected to surpass USD 15 trillion by the end of 2024, which clearly portrays the lucrative opportunities for the global market in the coming years.

Worldwide, flooring market is highly fragmented with the presence of a large number of regional and local manufacturers. Global industry share mainly includes:
• Mohawk Industries
• Tarkett
• Shaw Floors
• Armstrong
• Mannington Mills, Inc.
• Marazzi Group
• Forbo Flooring Systems
• Polyflor Ltd

Driven by the sustainability trends that have created an increasing demand for ecofriendly floor coverings, these giants are heavily investing in innovative solutions that are not only stylish in décor but also are environmentally viable. The Polyester (P.E.T) Berber carpet is one such sustainable flooring solution that has gained a global attention of late.

‘Smart flooring’ has already become the latest buzzword among the infrastructural players, with workplace décor and stylish homes claimed to be the ultimate reflection of high standards of living. In response to the growing demand for flooring materials with blend of style, economic, as well as efficiency quotients, flooring market giants are coming up with variety of options that not only reflects aesthetics in design, but also stands as the test of time.

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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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