January 06, 2020
According to the research report titled ‘Flooring Market Size By Product (Soft Coverings, Resilient Flooring [LVT, VCT, Vinyl Sheet, Fiberglass, Linoleum], Non-Resilient Flooring [Ceramic, Stone], Seamless Flooring), By Application (Residential, Commercial, Industrial) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, Netherlands, Sweden, Poland, Belgium, Austria, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’, available at MarketStudyReport.com, the global flooring market is expected to cross USD 450 billion by the year 2024.
Rapid industrialization and urbanization coupled with rising construction activities in commercial and residential sector are the major factors driving flooring market growth. Rising trend of remodeling and renovation of existing properties along with shifting preference towards new floor designs and interiors is also aiding the market expansion. Furthermore, escalating investments by key industry players in construction sector in order to meet the consumer demand is stimulating the industry outlook. Evolving lifestyles and favorable government policies which encourage renovations and new construction activities are augmenting the demand for flooring solutions across the globe.
As per product type, seamless flooring segment is expected to register substantial growth in flooring market during the estimated timeframe. Seamless floors not only offer superior abrasion and impact resistance properties but are also durable and reliable. Thus, rising installation of seamless flooring in retail stores, hotels, and hospitals is facilitating the industry scenario.
Based on application spectrum, the report cites that residential segment will grow significantly owing to rising construction activities across the globe. Moreover, shifting preferences towards attractive and innovative flooring solutions coupled with surging government investments on residential projects are fueling the growth of the segment.
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Considering the geographical landscapes, North America flooring market will witness considerable growth during the forecast period. Growing population in urban areas and increasing demand for renovation and remodeling of existing properties is contributing towards the popularity of the product across the region.
The prominent companies operating in flooring market are Parador, Instarmac, Delconca, Flowcrete, Balta, Marazzi Group, Beaulieu, Tarkett, Shaw Floors, Pergo, Polyfor Ltd., Mohawk Industries, Mannington Mills Inc., IVC Group, Interface Inc., Gerflor, Forbo, Congoleum, Amstrong Floor and Amtico.
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