Construction Surge Propels Growth In The Hard Surface Flooring Market: Strengthening the Growth Trajectory of the Hard Surface Flooring Market

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What Is the Expected CAGR for the Hard Surface Flooring Market Through 2025?
The market size for hard surface flooring has seen a robust growth over the last few years. The market which was worth $40.2 billion in 2024, is projected to increase to $42.35 billion in 2025 with a compound annual growth rate (CAGR) of 5.4%. Factors such as urbanization, demographic growth, expansion of the housing market, economic progress and alterations in lifestyle are considered as key drivers for the historic growth.

What's the Projected Size of the Global Hard Surface Flooring Market by 2029?
The market size of hard surface flooring is predicted to witness robust growth in the coming years, increasing to $53.03 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. The anticipated growth during the forecast period can be credited to factors such as eco-friendly building practices, the rising demand for luxury and personalized flooring solutions, surges in residential and commercial construction, expansion of the real estate market, and activities related to renovation and remodeling. Key evolving trends during the projected period include an increasing preference for luxury vinyl tiles, a heightened emphasis on sustainable and environmentally friendly flooring choices, the application of digital printing technologies, a growing need for seamless and easy-to-maintain flooring solutions, and rising fascination with modular and customizable flooring designs.

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Top Growth Drivers in the Hard Surface Flooring Industry: What's Accelerating the Market?
The rise in construction endeavors is anticipated to fuel the expansion of the hard surface flooring market. Such activities involve the process of creating, assembling, or finalizing a structure or installation. Hard-surface flooring is known for its durability, reliability, and easy upkeep, making it an attractive construction material. Used for both functional and decorative purposes, hard-surface flooring is widely popular in both commercial and residential settings given its advantages like easy maintenance, adaptability, customization, and longevity. For example, in July 2023, data from the Australian Bureau of Statistics, a government institution in Australia, showed a 1.3% hike in the dwellings under construction during the March 2023 quarter, reaching a total of 240,813 units, marginally besting the previous high of 240,065 units from the March 2022 quarter. This rise in construction endeavors, hence, is steering the hard surface flooring market's growth.

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What Trends Will Shape the Hard Surface Flooring Market Through 2029 and Beyond?
The rise of technological advancements is a trending factor gaining traction in the hard-surface flooring market. Established firms within the hard-surface flooring market are steering towards the adoption of emerging technologies and solutions for maintaining their market standing. For instance, in April 2023, Bjelin Sweden AB, a renowned hardwood flooring producer based in Sweden, unveiled its new range of 3.0-hardened wood floors. Noted for their improved colors, formats, and technologies, this new series of hardened wood flooring features a water-resistant floor-locking mechanism, which facilitates a seamless and durable installation process with a waterproof seal. Additionally, these advanced wood floors incorporate the exclusive Woodura technology, a superior technique of manufacturing genuine wood floors that are more eco-friendly. This method allows for a tenfold increase in the product yield using the same quantity of wood while enhancing the floor's durability to be up to three times stronger than conventional wood flooring.

What Are the Main Segments in the Hard Surface Flooring Market?
The hard surface flooring market covered in this report is segmented -

1) By Material Type: Vinyl Flooring, Vinyl Sheet, Vinyl Composition Tile, Rubber Flooring, Cork Flooring, Asphalt Flooring, Linoleum Flooring, Other Materials
2) By Surface Type: Seamless Flooring, Wood Flooring, Laminate Flooring
3) By Installation Type: Glue-Down, Floating, Nail Or Staple, Click-Lock
4) By Distribution Channel: Online Retail, Offline Retail, Other Distribution Channels
5) By Application: Residential Buildings, Nonresidential Buildings, Transportation

Subsegments:
1) By Vinyl Flooring: Luxury Vinyl Tile (LVT), Luxury Vinyl Plank (LVP), Vinyl Sheet
2) By Vinyl Sheet: Homogeneous Vinyl Sheet, Heterogeneous Vinyl Sheet
3) By Vinyl Composition Tile (VCT): Standard VCT, High-Performance VCT
4) By Rubber Flooring: Rolled Rubber Flooring, Rubber Tiles
5) By Cork Flooring: Unfinished Cork Flooring, Finished Cork Flooring
6) By Asphalt Flooring: Asphalt Tiles, Asphalt Sheet Flooring
7) By Linoleum Flooring: Linoleum Tiles, Linoleum Sheets
8) By Other Materials: Concrete Flooring, Ceramic Tile, Stone Flooring

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Which Top Companies are Driving Growth in the Hard Surface Flooring Market?
Major companies operating in the hard surface flooring market include Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett S.A., Beaulieu International Group, Dal-Tile International Inc., Forbo Holding AG, Interface Inc., LL Flooring Holdings Inc., Gerflor Group, Mannington Mills Inc., Armstrong Flooring Inc., Polyflor Ltd., Congoleum Corporation, Emser Tile LLC., Crossville Inc., Somerset Hardwood Flooring Inc., Boa-Franc Inc., Roppe Corporation, Karndean International Limited, Quickstep, Marazzi Group S.R.L., Faus Group Inc., NOX Corporation, Mullican Flooring L.P., Provenza Floors Inc., Urban Global LLC., Novabell S.P.A., Kentwood Floors Inc., Us Floors Inc., Johnsons Premium Hardwood Flooring Inc.

Which Regions Will Dominate the Hard Surface Flooring Market Through 2029?
North America was the largest region in the hard surface flooring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hard surface flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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