Impact Assessment of COVID-19 Outbreak on Soft Flooring | Straits Research

Soft Flooring Market: Overview

The process of carpet flooring gives a soft covering to the floor, while also exhibiting dust binding properties. Some of the other benefits of flooring include noise reduction, heat insulation, along with an increase in the level of comfort. One of the primary USPs of soft flooring is to upgrade the interior and improve the office or home décor. There has also been an increase in the construction of various commercial spaces such as airports, retail spaces, healthcare facilities, and other similar public-access buildings, which will lead to the rise in the demand for carpet tiles during the forecast period.

The Middle East’s soft flooring market is anticipated to grow at a relatively higher growth rate, owing to the rapid development of the construction industry in this region. Furthermore, there has been a rise in demand for anti-microbial, bleach resistant, and stain-proof carpet tiles from this region, which will further propel the market growth.

The e-commerce sector has been pulling crowds off the malls and retail stores. The owners of these malls are now investing in products that will enhance the customer shopping experience while also managing to bring higher customer footfall. Polyester, nylon, triexta, and other such synthetic fibers are used as the primary raw materials for producing broadlooms and carpet tiles. The abundance in the availability of these raw materials is expected to further boost market growth.

The residential segment is anticipated to hold over half of the market share during the forecast period. Population growth, along with an increase in the number of nuclear families, is anticipated to fuel the growth of this market. In addition to this, individuals in various economies have a tendency to renovate their living and working spaces instead of buying new ones, which will prove to be a tailwind for the growth of this market.

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The Major Players Covered in this Report: The Dixie Group, Inc., Mannington Mills, Inc., Mohawk Industries, Interface, Inc., Trinseo S.A., Engineered Floors LLC, Cargill, Incorporated, Bentley Mills, Inc., Beaulieu International Group, Abbey Carpet and Floor, Tuftex, Shaw Industries Group, Inc., & More...

By Product, Carpet Tiles, Broadloom, Area Rugs,
By Material, Linoleum, Rubber, Vinyl,
By Application, Commercial, Residential

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Soft Flooring in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Soft Flooring market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Soft Flooring and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Soft Flooring. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Impact of COVID-19:
The pandemic has pushed the world into recession. The global economy was already into a slowdown in the year 2019 as major economic trade powers were implying protectionist policies. However, the pandemic has ensured global lockdown practices, significantly impacting the international trade movement, consumer income, and real estate projects, further hampering the market growth.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Soft Flooring Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Soft Flooring Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Soft Flooring Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

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