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Worldwide Trends Overview: The Fast-Paced Development of the Resilient Flooring Market
Resilient Flooring Market
Growth Expectations and Market Size Insights for Resilient Flooring
The resilient flooring market is projected to expand markedly, reaching a value of $55.02 billion by 2030. This represents a compound annual growth rate (CAGR) of 6.9% during the forecast period. Several factors are driving this growth, including a rising preference for sustainable flooring materials and advancements in patterned and textured vinyl designs. The increased use of resilient flooring in renovation projects and its growing adoption in commercial settings, especially luxury vinyl tile (LVT), are also significant contributors. Additionally, the development of recyclable and bio-based resilient flooring products supports the upward trend. Key market trends include the popularity of LVT for both residential and commercial interiors, demand for waterproof and low-maintenance flooring, the expanding use of rubber and linoleum in high-traffic areas, and innovations in wood-look and stone-look vinyl flooring for enhanced aesthetic appeal.
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Leading Corporations in the Resilient Flooring Sector
The resilient flooring market features several prominent companies shaping its landscape. These include 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., and IVC Group of Belgium. Other key players are Amtico International Co. Ltd., Mannington Mills Ltd., Unilin of Belgium, Milliken and Company, 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, Creative Panel Solutions, and others.
Strategic Moves Strengthening Market Presence
In a notable recent development, Karndean Designflooring, a UK-based vinyl flooring company, acquired Go Resilient, a Canadian vinyl flooring manufacturer, in December 2023 for an undisclosed amount. This acquisition allows Karndean to bolster its footprint in North America by launching Karndean Designflooring Canada, thereby enhancing its sales and operational capabilities in this key market.
View the full resilient flooring market report:
https://www.thebusinessresearchcompany.com/report/resilient-flooring-global-market-report
Technological Innovations Driving Resilient Flooring Trends
Advancements in technology are significantly influencing the resilient flooring market, especially as consumers increasingly seek sustainable home solutions. As energy efficiency and eco-friendly building materials gain popularity, resilient flooring manufacturers are responding with innovative products. A challenge remains due to the reliance on non-renewable resources in traditional resilient flooring production. However, progress is evident. For example, in March 2024, Mohawk Industries introduced PureTech, a new line of PVC-free resilient flooring designed with a strong focus on environmental sustainability and performance. PureTech flooring contains zero PVC plastics and includes 70% recycled content, featuring an 80% renewable organic core. This product is also waterproof and offers superior wear and stain resistance, boasting scratch resistance three times better than conventional flooring options.
Detailed Market Segmentation and Forecast for Resilient Flooring
This report divides the resilient flooring market into several segments for a comprehensive analysis:
1) Product Type - including Luxury Vinyl Tile (LVT), Vinyl Sheet and Floor Tile, Rubber, Linoleum, and Other Products such as Cork.
2) Construction Activity - focusing on resilient flooring use in Renovation projects and New Construction.
3) Application Areas - covering Residential, Commercial, and Other sectors like Industrial use.
Further subcategories provide deeper insights:
- Luxury Vinyl Tile subdivides into Wood Look, Stone Look, and Patterned Designs.
- Vinyl Sheet and Floor Tile includes Sheet Vinyl, Vinyl Tiles, and Commercial Vinyl.
- Rubber products are segmented into Rubber Tiles, Sheets, and Rolls.
- Linoleum options are divided into Sheet and Tile Linoleum.
- Other product types include Cork, Bamboo, and Foam flooring varieties.
These segments reflect the diverse options and applications driving growth and innovation in the resilient flooring market worldwide.
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