Press release
Cork Flooring Market to Witness Substantial to Reach $110.8 million by 2031
Cork Flooring Market
Growth of the population, combined with the construction of new business centers, such as offices, factories, warehouses, sports complexes, hospitality, and healthcare, has prompted the deployment of compact and efficient decor systems. The restoration business continues to benefit from a strong housing market, which includes a rise in home building, sales, and equity.
The cork flooring market size was valued at $60.6 million in 2021, and is estimated to reach $110.8 million by 2031, growing at a CAGR of 6% from 2022 to 2031.
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Driving Demands:
Moreover, a rise in expenditure by governments and private construction companies on remodeling and repairing of houses is anticipated to drive the cork Flooring market growth. Furthermore, the increased focus on sustainable development is driving the demand for cork flooring solutions that are relatively eco-friendly. This has encouraged key players to innovate and develop eco-friendly cork floorings, thereby providing lucrative growth opportunities.
The rise in construction activities across various regions such as Europe & Asia-Pacific and an increase in demand for highly appealing flooring solutions for buildings are expected to fuel the global cork flooring market growth.
However global trade wars are restraining the growth of the market. On the contrary, rapid urbanization and industrialization of emerging countries are expected to offer lucrative opportunities for the growth of the market.
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Key Segments
The market is segmented on the basis of type, installation method, construction type, end-user industry and region.
On the basis of type, the market is divided into flail sheet form and tile form.
On the basis of installation method, the market is divided into floating and glue-down.
On the basis of construction type, the market is divided into new construction and replacement.
On the basis of end-user industry, the market is divided into residential and commercial.
Regional Analysis:
Region-wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Spain, Portugal and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Europe registered largest share in the global cork flooring market share in 2021, owing to rise in the number of residential and commercial building, which is anticipated to positively influence the demand for cork flooring market in Europe. Furthermore, the majority of countries in the region are spending on construction sector for the growth of their economies.
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Top Players:
Corksribas, Expanko Resilient Flooring, Woodcrete, Consolidated Carpet Industries, Beach Bros Ltd, Global Market Partners Inc, Coretec, Advance Cork International, Globus Cork, Amorim Cork Flooring, Jelinek Cork, Capri Collections, Zandur, We Cork, The Home Depot, APC Cork, Green Buildings LLC
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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