Press release
Flooring Market is predicted to grow at approximately 5% by 2022
Flooring Market
Market Highlights:
Flooring is the permanent covering of a floor. Rising preference for sustainable building techniques drives the growth of the flooring market. Growing focus on innovative flooring that is also durable is fueling this growth. High demand from hospitality sector is the major factor contributing to the growth of the market. Various countries such as Australia, Saudi Arabia, and Dubai are making huge investments on tourism ultimately increasing the number of resorts and hotels. The growth of Global Flooring Market may be hindered by flooring waste disposal and the rising price of raw materials as well as it may be hindered by complexities of transportation.
The Global Flooring Market is expected to grow at CAGR of 5% by 2022.
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Key Players:
The key players of Global Flooring Market are Gerflor Group (France), LG Hausys, Ltd. (Korea), Flowcrete Group Ltd (U.K), Polyfloor Inc. (U.K.), Forbo Holding AG. (Switzerland), Tarkett Company (France), Floorworld LLC (Dubai), Mohawk Industries Inc. (U.S.), Shaw Industries, Inc. (U.S.) and Mannington Mills Inc. (U.S.).
Market Research Analysis:
On the basis of materials, Global Flooring Market is segmented into carpets, tiles, vinyl & rubber, wood & others. Out of them, carpets dominate the material segment of global flooring market. It accounted for more than 30% market share of the global flooring market mainly due to increasing residential construction activities. Carpets are used in residential buildings as floor décor. Carpets offer thermal and acoustic insulation benefits. Also, ease and speed in installation and higher economic value benefits are some factors increasing the demand of carpets. Wood is also expected to grow significantly during the forecast period due to the growing preference of green buildings by consumers.
Asia-Pacific is the largest region for the Flooring Market mainly due to rapid growth in construction sector. It is expected to grow at the fastest pace during the forecast period.
Scope of the Report:
This study provides an overview of the Global Flooring Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Flooring Market as material, type, and application.
By Material
• Carpets
• Tiles
• Vinyl & Rubber
• Wood
• Other
By Type
• Soft covering
• Resilient
• Non-resilient
• Others
By Application
• Healthcare
• Education
• Hospitality
• Retail
• Sports
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