Resilient Flooring Market 2024 - By Share, Size, Trend, Demand, Analysis By Top Leading Players And Forecast Till 2033

The Business Research Company recently released a comprehensive report on the Global Resilient Flooring Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The resilient flooring market size has grown strongly in recent years. It will grow from $35.38 billion in 2023 to $37.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to durability and low maintenance, commercial and residential construction, eco-friendly and sustainable options, increasing urbanization, renovation and remodeling projects..

The resilient flooring market size is expected to see strong growth in the next few years. It will grow to $48.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growth in the healthcare and hospitality industry, innovative design and aesthetics, resilient flooring in sports facilities, anti-microbial and easy-to-clean surfaces, environmental regulations and certifications, smart and connected flooring solutions.. Major trends in the forecast period include luxury vinyl tiles and planks, hybrid and rigid core flooring, recycled and sustainable flooring materials, digital printing technology for design, resilient flooring in modular and click-lock formats, floor heating and cooling systems..

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Market Drivers and Trends:

Rapid urbanization is contributing to the growth of the resilient flooring market. Economic, political, and social issues will combine with the circumstances of modernization to make people migrate from rural areas to urban areas. The expansion of modern offices, rapid urbanization, and evolving lifestyles are paving the way for the growth of newer flooring substances. For instance, in June 2021, according to UNCTAD, a Geneva-based intergovernmental organization intended to promote the interests of developing states in world trade, by 2020, the share of the urban population increased to 56.2%. It is generally higher in the developed world (79.2% in 2020) than in the developing world (51.6%). Furthermore, in October 2021, according to the data published by the World Bank report, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries to pursue capital projects, the world's population living in urban areas has increased from 37% to 56% in the past 50 years. Thus, rapid urbanization will drive the growth of the resilient flooring market.

Technological advancement is a key trend gaining popularity in the resilient flooring market. More consumers are looking for ideas to make homes more sustainable. With trends such as solar panelling and energy efficiency, more and more homeowners are using eco-friendly building materials. Resilient flooring requires non-renewable resources for manufacturing, which makes it difficult to deal with consumers' preference for sustainable materials. For example, in 2021, Beaulieu Flooring is having hefty sales to deliver resilient flooring that answers design, function, and sustainability in the future.

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Major Key Players of the Market:

Mohawk Industries Inc., Tarkett S.A, Shaw Industries Group Inc., Armstrong World Industries Inc., Forbo Flooring UK Ltd., Global Flooring Group, Interface Inc., Beaulieu International NV, Novalis Innovative Flooring, Congoleum Corp., IVC Group of Belgium, Amtico International Co. Ltd., Mannington Mills Ltd., Unilin of Belgium, Milliken and Company, De Nora India Limited, Fatra AS, American Biltrite Inc., Polyflor Ltd., Burke Industries Inc., Karndean International Limited, Berkshire Hathaway Inc., Alite floor LLC, Pergo Pvt. Ltd., DLW Flooring GmbH, Metroflor Corporation, Raskin Industries LLC, Parterre Flooring Systems LLC, Gerbert Limited, LG Hausys Ltd., Hanwha L&C Corporation, Metroflor Corporation, Parterre Flooring Systems, Burke Industries Inc., Creative Panel Solutions

Resilient Flooring Market 2024 Key Insights:

• The resilient flooring market size is expected to see strong growth in the next few years. It will grow to $48.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Resilient Flooring Market On The Rise A Consequence Of Rapid Urbanization
• Eco-Friendly Innovation Technological Advancements Transforming The Resilient Flooring Market
• Asia-Pacific was the largest region in the resilient flooring market in 2023 and is also expected to be the fastest-growing region during the forecast period

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