Global Hard Surface Flooring Market is expanding with 5.12% CAGR | Forecast MRFR
The global hard surface flooring market has, geographically, been divided into four major regions, as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific, of all the regions, accounted for the fastest growth in share, in 2016, followed by North America and Europe. Increasing up gradation, and renovation of the existing infrastructure is driving the growth of the Asia Pacific market Asia Pacific. Some major markets of Asia Pacific are China, India and Indonesia. China accounts for the largest market in Asia Pacific hard surface flooring market. In India, values of both public and private sectors construction, are increasing continuously. This will create huge potential for the hard surface flooring market in the future. The region has also observed penetration of vinyl flooring segment due to the changing preferences and increased demand of decorative & colored flooring.
North America is a large region for the market. U.S. accounts for the largest share in North America. Developments in commercial and residential structures in the U.S., is expected to fuel the demand for hard surface flooring in the region. The region is governed by increase in construction activities in both private and commercial sectors. This drives the market for hard surface roofing in the construction sector. North America is followed by Europe and Rest of the World, including regions such as Middle East & Africa and South America.
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For this study, the global hard surface flooring market has also been divided on the basis of products, and applications. On the basis of products, the market has been segmented as resilient flooring and non-resilient flooring. Resilient flooring includes products such as vinyl flooring, vinyl sheet, and rubber flooring. Non-resilient flooring includes seamless flooring, wood flooring, and laminate flooring while the resilient flooring segment is expected to lead the market due to rapid growth in vinyl flooring sub-segment. Vinyl flooring has gained popularity over the years due to increased aesthetic values in construction and changing consumer preferences. Based on applications, the market has been segmented as residential and non-residential. The residential segment accounted for the largest market share. Due to the increasing population and urbanization, there has been a shift in the population in the urbanized areas, especially in developing nations. This transition leads to the increasing demand for homes and residential complexes. This drives the demand of the hard surface flooring in this sector. Non-residential segment is projected to grow at the highest CAGR during the forecast period due to increased investment in new commercial constructions and renovation projects
Hence, Global Hard Surface Floorings Market is expected to grow at a CAGR of 5.12% during the forecast period.
The prominent players in the global hard surface flooring market include Mohawk Industries (U.S.), Armstrong World Industries, Inc. (U.S.), Mannington Mills Inc. (U.S.), Shaw Industries Group (U.S.), Beaulieu International Group (Belgium), Marazzi Group S.r.l (Italy), Berry Floor NV (Italy), Burke Industries (U.S.), Roppe Corporation (U.S.), Surface America (U.S.), Tarkett SAS (France), TOLI Corporation (Japan), and Windmöller Flooring Products WFP GmbH (Germany).
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