Residential Building Construction Industry Market annual growth rate (CAGR) of 10.3% for the period of 2017-2022

The global market for residential building construction industry totaled $4,171.3 billion in 2017 and is estimated to reach $6,800.9 billion by 2022, growing at a compound annual growth rate (CAGR) of 10.3% for the period of 2017-2022.

Report Scope:

Following are brief summaries of the chapters included in this report.

The Chapter One summary presents the report’s scope, methodology and structure, as well as brief overviews of each of the report’s chapters.

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Chapter three provides a high-level overview of the residential flooring industry, including historical, current and future industry perspectives, as well as a look at current, and anticipated manufacturing issues and trends. The chapter also covers current market conditions in the new construction and renovation residential segments. Chapter three also includes an overview of industry trade organizations, such as the National Wood Flooring Association (NWFA) and the North American Building Material Distribution Association (NABMDA). The chapter also discusses the key trade shows that residential flooring manufacturers and other industry participants attend, such as one of the industry’s largest events, The International Surface Event: Surfaces—StonExpo/Marmomacc—TileExpo. The chapter also details the primary trade media that cover the industry, such as Floor Covering News.

Product types in the residential flooring industry are in a constant state of evolution and at different stages of innovation in an effort to meet changing market needs and demands. Chapter Four provides a detailed look at seven different residential flooring categories—carpet, ceramic tile, hardwood, laminates, stone, other resilient and vinyl—including associated new products and technologies, and applicable environmental programs and incentives, as well as government regulations and requirements affecting each flooring type.

Chapter Four provides a comprehensive overview of the residential flooring market size and growth in North America through 2021. A preview of residential flooring value by region is provided here, setting the stage for more detailed breakdowns by distribution channel and by product category, both in this chapter and in Chapter Five: Market Definition.

For the purposes of this report, BCC Research has analyzed Southeast, Northeast, Midwest, Southwest, West regions in the U.S., as well as Canada, to complete our North American residential flooring research.

Chapter Four also includes a breakdown of residential flooring expenditures by flooring type—carpet, ceramic tile, hardwood, laminates, stone, other resilient and vinyl—through 2021 in million squares and million dollars for the six key industry distribution channels: floor covering stores; furniture and home furnishing stores; home improvement centers and building materials supplies dealers; general merchandise stores; electronic and online sales; and direct sales.

Finally, growth projection data analysis for this chapter covers residential flooring volume by product type though 2021 in million squares and million dollars.

For the market definition part of this report in Chapter Five, BCC Research analyzed the two primary residential flooring segments in North America: new construction and renovation.

The residential flooring analysis contains expenditure and share data for the years 2015 and 2016, as well as projections for 2021 along with the compound annual growth rates (CAGRs) for the years 2016 through 2021. We have also provided a detailed analysis on the following six North American regions: Southeast, Northeast, Midwest, Southwest, West and Canada.

In addition, this chapter includes an overview of 19 of the leading residential flooring product manufacturers with data on 2015 and 2016 revenues, number of employees, and overall market share. Also included are market share breakdowns for the leading manufacturers by product category, as well as a listing of each manufacturer’s product lines in each product category.

Finally, this chapter provides data on average pricing and installed costs for all product types in the years 2015 and 2016, with projections for 2021. The residential flooring industry’s six primary distribution channels—floor covering stores; furniture and home furnishing stores; home improvement centers and building materials supplies dealers; general merchandise stores; electronic and online sales; and direct sales—are covered, as well as listings of major flooring distributors with data on revenues (overall, by product type, by distribution channel and associated market shares).

Chapter Seven profiles 30 of the major producers in the seven residential flooring product categories: carpet, ceramic tile, hardwood, laminates, stone, other resilient and vinyl. The major suppliers in residential flooring products offer multiple product lines. Chapter Seven contains the following information about each company profiled (when available): background, recent company news (selected significant announcements within the past 18 months), products, financial performance, strategic direction and distribution.

Report Includes:

– An overview of the market for residential flooring in North America.
– Analyses of global market trends, with data from 2015, estimates for 2016, and projections of compound annual growth rates (CAGRs) through 2021.
– Information on different product and technology types, such as carpet, ceramic tile, hardwood, laminates, stone, vinyl, and resilient flooring.
– Information on various flooring products, distribution methods, new products and technologies, and the direction of the industry in the near future.
– Profiles of major companies in the industry.

Report Summary

The North American residential flooring industry is one of the most diverse of any manufactured product in terms of product type and selection. From broadloom carpet and carpet tile to hardwood and innovative resilient products made from cork and rubber, consumers and others involved in new residential construction and renovation have no shortage of choices to meet their architectural or interior design needs and requirements. Within each flooring product type, there exists a myriad of surface textures, color choices and quality levels, as well as collection upon collection of product with intriguing names like Accord, Hydroment Vivid, VersaBond and Blue Emotion, among others. Other product names are more grounded in familiarity and longevity like the well-known Congoleum brand.

Following are a few market observations on several of the flooring types analyzed in this report.

Flooring products are among the most important building materials and constitutes a versatile market with a wide product portfolio. The flooring market is expected to expand significantly due to strong growth of construction and automotive sectors coupled with increases in home improvement and renovation project activities. The demand for various residential flooring materials is expected to increase considerably in the forecast period. Increasing residential construction and reconstruction
activities in North America is one of the major factors fueling the demand for residential flooring in this region. However, in recent times regulations have been issued against import of lumber due to illegal deforestation. This is one of the primary factors restraining the residential flooring market.

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The hardwood flooring products remain popular despite the advent of a large number of cheaper flooring products such as laminates and resilient flooring. Easy cleaning, better strength and durability, better acoustics and presence of large number of varieties are some of the major factors fueling the demand for hardwood flooring products. Owing to these factors, hardwood flooring is one of the primary choices for a large number of residential constructions.

Vinyl flooring is the fastest growing product category, growing at a CAGR of 7.4% between 2016 and 2021. Although vinyl tile floor is often installed in commercial settings where high traffic is a constant, or where a clean or static–free environment is desired, it is also a versatile and cost–effective choice for any household. Moreover, lower maintenance cost is also one of the primary factors expected to drive the demand for vinyl flooring in the coming years.

In terms of value chain, a high degree of backward integration is being witnessed in the flooring market. Several key players are engaged in the manufacture of raw materials. Amoco, a subsidiary of Shaw Industries, is actively involved in the manufacture of fiber. Amoco manufactures polypropylene fibers, which are used by Shaw Industries to manufacture carpets and rugs. Besides being a key player in the hardwood flooring market, Boral Limited is involved in the timber business. Burke Industries Inc., a major rubber manufacturing company based in California, is owned by Mannington Mills, one of the largest flooring manufacturers in North America.

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