Press release
Stone Plastic Composite Flooring Market Analysis and Future Directions Forecast 2024 - 2031 | Shaw Industries Group Inc., Mohawk Industries Inc.
Stone Plastic Composite Flooring Market
Global Stone Plastic Composite Flooring Market size is expected to reach US$ 10.91 Bn by 2030, from an estimated US$ 3.64 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 17% during 2023 and 2030.
Market Dynamics:
Stone plastic composite flooring market is expected to witness significant growth over the forecast period owing to increasing residential construction activities around the world. Additionally, rising consumer preference for low maintenance and easy DIY installation of flooring products is also expected to support the market growth. SPC offers various advantages over traditional flooring options like hardwood including waterproof properties and resistance to stains, dents and fading. This makes SPC flooring durable and low maintenance, thus gaining strong demand across both renovation and new construction projects. Furthermore, growing commercial construction sector is also anticipated to contribute to the revenue growth of stone plastic composite flooring market between 2024-2031.
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Stone Plastic Composite Flooring Market Drivers
Rise in Renovation and Remodeling Activities Boosting Demand for Stone Plastic Composite Flooring
The growing preference towards home aesthetics and home improvement has increased the demand for renovation and remodeling activities across the globe. Stone plastic composite flooring offers advantages over traditional flooring such as wood, ceramic, and stone in terms of easy maintenance and durability. Their aesthetic wood-like appearance combined with resilience against moisture, stain, chemicals, and termite make them ideal for both indoor and outdoor renovation and remodeling projects. Thus, the booming renovation and remodeling industry has emerged as a major driver fueling the growth of the global stone plastic composite flooring market.
Stone Plastic Composite Flooring Market Opportunity
Inclination Towards Green Building Concept Presenting Lucrative Opportunities
With growing environmental concerns and rising emphasis on sustainability, the concept of green building is gaining widespread acceptance globally. Stone plastic composite flooring align well with the principles of green building as they are engineered from recycled materials and factory finished, reducing on-site waste. They also contain no volatile organic compounds that can off-gas harmful pollutants into the atmosphere. The environment-friendly attributes of stone plastic composite flooring coupled with their durability make them suitable for obtaining credits in sustainable building rating systems. Thus, the increasing focus towards green construction worldwide is opening up new avenues for the stone plastic composite flooring market players.
Stone Plastic Composite Flooring Market Trends
Emergence of Waterproof Technology Driving Product Innovations
To stay competitive in the industry, manufacturers are focusing on developing advanced and innovative product variants integrated with new technologies. In this regard, waterproof technology for stone plastic composite flooring has emerged as a major trend. Conventional SPC floors are moisture-resistant but not completely waterproof. Thus, key players have unveiled new collections featuring 100% waterproof composite core that prevents moisture absorption even when fully submerged under water for 72 hours. These fully waterproof variants are gaining traction for high moisture areas like bathrooms, basements, outdoor patios. The incorporation of waterproof technology in stone plastic composite flooring will continue to revolutionize product offerings, strengthening the market position of industry giants.
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Top Companies Included in This Report:
★ Shaw Industries Group Inc.
★ Mohawk Industries Inc.
★ Mannington Mills Inc.
★ Armstrong Flooring Inc.
★ Tarkett S.A.
★ Beauflor
★ Gerflor
★ Karndean Designflooring
★ Congoleum
★ Novalis Innovative Flooring
Market Segmentation:
By Product Type:
★ By End User: Residential, Commercial, and Industrial
★ By Thickness: Standard Thickness and Enhanced Thickness
★ By Distribution Channel: Online and Offline
By Applications:
★ By Application: Residential, Commercial, and Industrial
Key Regions/Countries are Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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The report offers insights on the following topics:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Competitor Landscape of the Stone Plastic Composite Flooring Market by Players
Chapter 4: Market Size of the Stone Plastic Composite Flooring Market by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, Recent Developments, and Investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
Ultimately, the Stone Plastic Composite Flooring Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Stone Plastic Composite Flooring industry.
Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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