Flooring Market revenue to hit $725 Bn by 2032, Predicts Global Market Insights Inc.
Major flooring market participants include Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., Kingspan Group Public Ltd. Company, Mannington Mills Inc., Mohawk Industries, Polyflor Ltd., Pergo, Shaw Floors, Tarkett, Beaulieu, Balta Flowcrete, Delconca, Instarmac, among others.
Selbyville, Delaware , Nov. 17, 2022 (GLOBE NEWSWIRE) —
Flooring Market is expected to cross a valuation of USD 725 billion by 2032, according to latest research report by Global Market Insights Inc.
The rising urbanization presents an opportunity for the development of commercial and non-commercial infrastructure. With increasing construction projects, the demand for building elements such as flooring will also surge by 2032. According to estimates from the United Nations, the number of people residing in cities is expected to rise by 2.5 billion by 2050.
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The flooring market valuation from the soft flooring segment valued at USD 90 billion in 2022. Soft floorings offer a reasonable safety covering along with an aesthetic appearance, contributing to the growing consumer preference for these solutions over hard floors such as ceramic tile or stone. These flooring solutions are used across home decor, offices, and carpet areas to improve their visual appearance. Moreover, increasing consumer demand for multiple rug designs and high-quality carpets coupled with rising disposable incomes will foster product usage.
The commercial flooring industry accounted for around USD 175 billion in 2022. Hospitals, malls, rehabilitation centers, etc. are some of the industrial spaces where proper flooring is essential. The growing hospitality and service sectors, especially in developing countries, will boost the establishment of modern infrastructure. Additionally, the increasing population, urbanization and changing environmental impacts have prompted the usage of sustainable construction elements, further influencing the market dynamics.
The Europe flooring market is projected to depict about 4% CAGR between 2023 and 2032. The rapid rise of several industries including oil & gas, and metallurgical & mining is supporting the requirement for tough flooring solutions that can withstand various chemicals and high temperatures. Stricter government regulations to curb VOC emissions from some floor coatings such as laminated and PVC flooring may, however, inhibit the regional industry growth.
Some of the key flooring market players include Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., Kingspan Group Public Ltd. Company, Mannington Mills Inc., Mohawk Industries, Polyflor Ltd., Pergo, Shaw Floors, Tarkett, Beaulieu, Balta Flowcrete, Delconca, Instarmac, Parador, The Dixie Group, Hyosung Swan Carpet, EGGER, SWISS KRONO Holding AG, and Neuhofer, among others. Many of these companies are launching novel products to expand their product portfolio and reinforce their market position.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Flooring Market 360° synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Flooring Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.3 Industry ecosystem analysis
3.4 Industry impact forces
3.4.1 Growth drivers
184.108.40.206 Rise in construction spending
220.127.116.11 Revival of construction industry in Europe
18.104.22.168 Rising construction activities in Middle East and North Africa
22.214.171.124 Rapid growth of urban population, changing lifestyle and activities
3.4.2 Industry pitfalls & challenges
126.96.36.199 Disposal of waste
3.5 Regulatory landscape
3.6 Growth potential analysis
3.7 Regional price trends
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 COVID-19 impact on flooring by application
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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