Fiberglass Flooring Market is growing rapidly
The fiberglass flooring market is driven by the growing consumer demand for flooring and the increasing purchasing power of people. Its cost effectiveness and environmental friendliness are attracting consumers increasingly, ultimately increasing consumer attention. Fiberglass flooring, being versatile is preferred even in non-residential purposes, owing especially to its easy fixing and maintenance features. Fiberglass offers more cushioning and improves the feel of the floor. Moreover, this type of flooring is installed without glue and is impervious to upward twists. Properties such as ease of installation and excellent aesthetic values are expected to push the market towards growth.
New construction activities and economic advances such as the increasing disposable income and increased preference for fiberglass flooring are some of the factors boosting the market towards growth. However, fluctuating raw material prices acts as a major driver for the fiberglass flooring market.
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Commercial will be the Largest Segment:
Flooring is one of the essential parts of any household or commercial structure. Installation of new and innovative products in commercial and residential spaces, has significantly driven commercial flooring. Use of Fiberglass Floorings in residential, commercial, and industrial applications attributes to the product’s sturdiness and long lifespan. Moreover, rapid commercialization and the expansion of workspaces have led to its increased commercial end-use. The industrial construction sector is expected to witness substantial gains on account of increasing facility expansion by manufacturing companies. Other factors such as high income levels, favorable government initiatives, and population growth may boost market growth in the forecasted period.
Fiberglass flooring market is growing rapidly due to the factors such as increased construction and building activities. Currently, APAC is expected to dominate the market of fiberglass flooring. Strong growth of the construction industry in emerging countries such as China and India are creating further opportunities for the market to grow. Moreover, population growth in this region also offers huge potential for infrastructure development and new housing, which leads to the growth of the Fiberglass flooring market.
The major player operating in the market of global fiberglass flooring are Mohawk Industries (U.S.) , NOX Corporation (South Korea) , Gerflor Group (France), Armstrong Flooring, Inc.(U.S.), Mannington Mills, Inc. (U.S.), Shaw Industries Group, Inc.(U.S.), Tarkett(France), TOLI Floor Corporation (Japan ), Interface (U.S.) , Milliken & Company (U.S.) and Polyflor ltd (U.K).
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