Cork Flooring Market Industry Revenue to Surpass $110.8 Million by 2031 | With a CAGR of 6.0%

Rise in construction activities across various regions such as Europe & Asia-Pacific and increase in demand for high appealing flooring solutions for buildings drive the growth of the global cork flooring market. Moreover, major players have adopted various strategies such as product launches and acquisitions to sustain the competition and improve the product portfolio, which presents new opportunities in the coming years.

According to the report, the global cork flooring industry generated $60.6 million in 2021, and is anticipated to generate $110.8 million by 2031, witnessing a CAGR of 6.0% from 2022 to 2031.

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The sheet form segment to maintain its leadership status throughout the forecast period

Based on type, the sheet form segment held the highest market share in 2021, accounting for nearly three-fifths of the global cork flooring market, and is estimated to maintain its leadership status throughout the forecast period, as sheet forms are lightweight sustainable,easy to maintain, and last as long as other types of wooden floors. However, the tile form segment is projected to manifest the highest CAGR of 6.2% from 2022 to 2031, owing to the various important features of tile forms such as durability, fire resistance, thermal, acoustic and other properties, and the fact that they enhance the aesthetic look of floors.

The new construction segment to maintain its leadership status throughout the forecast period

Based on construction type, the new construction segment held the highest market share in 2021, accounting for more than half of the global cork flooring market, and is estimated to maintain its leadership status throughout the forecast period. Rise in need for new construction to meet the needs of growing population is one of the major factors that drives the growth of the cork flooring market.

However, the replacement segment is projected to manifest the highest CAGR of 6.2% from 2022 to 2031, due to the increase in replacement and renovation activities of old heritage buildings.

The residential segment to maintain its lead position during the forecast period

Based on end use industry, the residential segment accounted for the largest share in 2021, contributing to around three-fourths of the global cork flooring market, and is projected to maintain its lead position during the forecast period. Issues such as shortage of housing facilities and high costs of new construction drive the demand for renovation, which in turn, propels the need for cork floorings.

However, the commercial segment is expected to portray the largest CAGR of 6.8% from 2022 to 2031. This is attributed to the high demand for construction of non-residential buildings for commercial purposes in developed nations of North America and Europe.

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Top Players:

The key players that operate in the cork flooring market are Advance Cork International, Amorim Cork Flooring, APC Cork, Beach Bros Ltd, Capri Collections, Consolidated Carpet Industries, Coretec, Corksribas, Expanko Resilient Flooring, Global Market Partners Inc., Globus Cork, Green Buildings LLC, Jelinek Cork, The Home Depot, We Cork, Woodcrete, and Zandur.

KEY BENEFITS FOR STAKEHOLDERS

The cork flooring market report provides an extensive analysis of the current and emerging global cork flooring market trends and dynamics.
In-depth global cork flooring market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
Extensive analysis of cork flooring market outlook is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
Cork flooring market forecast analysis from 2022 to 2031 is included in the report.

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