The global flooring market is expected to
reach USD 326.38 billion by 2020, according to a new study by Grand View
Research, Inc. Growing focus on innovative flooring that is durable in nature
is expected to drive market growth through the forecast period. Increased
insulation demand is also expected to give impetus to the market over the next
six years.
The market is characterized by
changing customer preferences, with considerable rise in home improvement and
renovation projects. Development of hassle-free installation techniques and
coupled with growing demand for environmentally sustainable products is also
expected to contribute to industry growth. Environmental and health-related
concerns regarding various flooring solutions may pose a challenge to industry
participants.
Browse full research report on Flooring Market: http://www.grandviewresearch.com/industry-analysis/flooring-market-analysis
Further key findings from the study suggest:
- Global flooring market demand was estimated at 161.19
billion square feet in 2013, and is expected to reach 240.10 billion
square feet by 2020, growing at a CAGR of 5.9% from 2014 to 2020.
- Soft coverings dominated flooring demand and
accounted for over 35% of the overall market volume in 2013. Resilient
flooring market is expected to witness substantial growth over the next
six years, since it offers benefits such as cost effectiveness, easy
installation and low maintenance. Increased demand for antimicrobial and
antibacterial flooring is expected to favorably impact resilient flooring
demand.
- Residential segment was the largest application area
in 2013 and accounted for over 50% of the market volume. Owing to growing
demand across the construction industry and increased home improvement and
renovation projects, the market for flooring products in residential
applications is expected to witness growth over the forecast period.
- Asia Pacific accounted for over 45% of the global
demand in 2013, and is expected to continue dominating the market over the
next six years. This can be attributed to increased demand for residential
and non-residential building spaces due to population growth and
urbanization.
- Key industry participants include Shaw Industries,
Mohawk Industries, Interface, Inc., Mannington Mills, Armstrong, etc.
Developing a vertically integrated infrastructure is expected to be a
critical success factor for gaining market share. As a result, mergers and
acquisitions, coupled with meeting consumer preferences through product
differentiation have been among the key strategies adopted.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/green-building-materials
Grand View Research has segmented the global flooring market
on the basis of product, application and region:
Flooring Product Outlook (Volume, Billion Square Feet
& Revenue, USD Billion; 2012 - 2020)
• Soft Coverings
• Resilient Flooring
• Non-Resilient Flooring
• Seamless Flooring
Flooring Application Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• Residential
• Commercial
• Industrial
Flooring Regional Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• Soft Coverings
• Resilient Flooring
• Non-Resilient Flooring
• Seamless Flooring
Flooring Application Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• Residential
• Commercial
• Industrial
Flooring Regional Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-flooring-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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