Soft Covering Flooring Market Was Valued at USD 87,609.8 Million in 2020, Increasing Renovation and Remodeling activities

Global soft covering flooring market By Product (Broadloom and Carpet Tiles), Distribution Channel (Contractors, Specialty Stores, Home Centers, and Others), End-User (Residential and Commercial), and Geography- Soft covering flooring market is estimated to be valued at USD 87,609.8 Million in 2020 and poised to grow at significant CAGR of 3.9% over 2027-2021, to reach USD 114,340.5 Million by 2027.

Global soft covering flooring market By Product (Broadloom and Carpet Tiles), Distribution Channel (Contractors, Specialty Stores, Home Centers, and Others), End-User (Residential and Commercial), and Geography- Global/Region/Country Forecast to 2027.

Carpet tiles are less difficult to install than standard tiles and can be used on a number of surfaces. The surge in demand from corporate offices, educational institutes, hospital facilities, and other commercial spaces can be ascribed to the fact that these tiles do not need to be cut during the maintenance of telephone, electrical lines, and underfloor vents. Furthermore, market participants have developed new technologies to make tile installation easier and to make tiles that are more stain-resistant and easy to clean.

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North America holds the highest market share in the soft covering flooring market during the forecast period. High disposable income leads to a high level of investments and better standards of living. Increasing renovation and remodeling activities in the real estate sector in the United States have resulted in the massive demand for soft flooring over the last few years. Moreover, many companies and governments across the region are increasing their investments in the construction sector and have encouraged the development of new techniques and products. This has ultimately had a positive impact on the development of the regional industry.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The soft covering flooring market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In June 2021, Interface introduced the Open Air Platform. The platform’s introductory offering, Open Air Neutrals, includes an array of 22 unique geometric, linear, organic, and textured patterns – all available in Interface’s best-selling neutral colors and at the same attractive price point.

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Key player’s profiles in the report are Abbey Carpet & Floor, Beaulieu International Group, Bentley Mills, Inc., Cargill Incorporated, Engineered Floors LLC, Interface Inc., Mannington Mills Inc., Milliken & Company, Mohawk Industries, Shaw Industries Group, Inc., The Dixie Group, Inc. and Trinseo S.A.

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