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Emerging Growth Patterns Driving Expansion in the Hard Surface Flooring Market
Hard Surface Flooring Market
Projected Market Size and Growth Trajectory in the Hard Surface Flooring Industry
The hard surface flooring market is set to experience substantial growth, reaching a market value of $56 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 6.1%. The expected growth is propelled by rising demand for premium vinyl flooring products and a growing shift toward sustainable, recyclable materials. Additionally, new installation techniques, increased use in transportation infrastructure projects, and advancements in wear-resistant flooring technologies are all contributing factors. Key trends anticipated during this time include a surge in luxury vinyl tile (LVT) and luxury vinyl plank (LVP) popularity, growing preference for seamless, low-maintenance floors, expanded use of natural stone and ceramic tiles for durability, rising adoption of click-lock and floating installation methods, and broader application of hard surface flooring in nonresidential and transportation sectors.
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Top Market Players Leading the Hard Surface Flooring Industry
Several prominent companies dominate the hard surface flooring market, including 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., and Johnsons Premium Hardwood Flooring Inc.
A significant acquisition occurred in January 2023 when Live Ventures Incorporated, a diversified company based in the US, purchased Flooring Liquidators Inc. for $84 million. This move is designed to strengthen Live Ventures' "buy-build-hold" strategy by boosting annual revenue by nearly 50%, broadening its footprint in flooring, countertops, and home improvement markets. Flooring Liquidators brings established expertise, management, and workforce capabilities, supporting growth across retail, builder, and mobile store divisions. The company specializes in providing flooring, cabinets, countertops, and installation services to retail, builder, and contractor customers across the United States.
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Emerging Trends Reshaping the Hard Surface Flooring Market
Leading market players are focusing on innovation to maintain their competitive edge amid changing consumer demands. These advancements aim to improve product performance and encourage sustainability within flooring options. For example, in June 2023, AHF Products, a US-based manufacturer known for durable flooring, launched the 'Natralis' vinyl sheet collection. This product line blends realistic aesthetics, comfort, and durability, mimicking natural materials such as stone, ceramic, and hardwood. Offered in rolls that can be cut to size, it is easy to clean and ideal for moisture-prone areas like bathrooms, kitchens, and laundry spaces. The vibrant and extensive color range caters to both commercial and residential needs, balancing practical and decorative requirements.
Market Segmentation Overview of the Hard Surface Flooring Industry
The global hard surface flooring market is segmented into several key categories:
1) By Material Type: Vinyl Flooring, Vinyl Sheet, Vinyl Composition Tile, Rubber Flooring, Cork Flooring, Asphalt Flooring, Linoleum Flooring, and Other Materials
2) By Surface Type: Seamless Flooring, Wood Flooring, and Laminate Flooring
3) By Installation Method: Glue-Down, Floating, Nail or Staple, and Click-Lock
4) By Distribution Channel: Online Retail, Offline Retail, and Other Channels
5) By Application: Residential Buildings, Nonresidential Buildings, and Transportation
Further subsegments expand the material categories:
- Vinyl Flooring includes Luxury Vinyl Tile (LVT), Luxury Vinyl Plank (LVP), and Vinyl Sheet.
- Vinyl Sheet divides into geneous and Heterogeneous variants.
- Vinyl Composition Tile (VCT) breaks down into Standard and High-Performance types.
- Rubber Flooring comprises Rolled Rubber Flooring and Rubber Tiles.
- Cork Flooring features Unfinished and Finished options.
- Asphalt Flooring is categorized into Asphalt Tiles and Asphalt Sheet Flooring.
- Linoleum Flooring includes Tiles and Sheets.
- Other materials in this category cover Concrete Flooring, Ceramic Tile, and Stone Flooring.
This detailed segmentation highlights the diversity and complexity within the hard surface flooring market, addressing a broad range of consumer and industry needs across multiple applications.
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