Flooring Market Size To Expand at a Notable CAGR Of 6.20% During 2022 - 2030

Market Insights

Flooring is rather self-explanatory and includes all manners of flooring materials such as carpets, tiles, hardwood, rubber and several others. Often permanent in nature, flooring provides a level, evenly-textures surface that makes it comfortable for movement. Market Research Future's study of the Flooring Market Size was valued at USD 258.46 Billion in 2021. The Flooring market industry is projected to grow from USD 278.08 Billion in 2022 to USD 449.89 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2022 - 2030). 

The rapid growth in the construction sector has been a primary driver of growth for the global flooring market. Increasing construction projects across the world in lieu of expanding urban areas and large population sizes are expected to fuel the flooring market. A variety of option is available with a number of designs to boot; this drives consumer participation is selecting the right flooring. Moreover, various parts of the house often have different flooring. Example, bathroom tiles often differ from the flooring in a living room or a patio. Moreover, flooring is used across commercial, industrial and residential applications and the rapid expansion of all three is driving the flooring market with steady and consistent growth. Rising home improvement projects as well and renovation projects due to rising personal disposable income are expected to further drive the market's growth over the assessment period. Emerging economies are noteworthy in the market as they are representative of a high potential for growth due to the economic growth in the region. There is a high demand for improvement of existing infrastructure as well as the building of new infrastructure in the form of hospitals, retail, other commercial buildings, and residential housing.

However, it should be noted that considerable volumes of flooring waste are often generated during new installations and renovations. This can often be expensive, and effective disposal is tricky, thus challenging the growth of the market.

Market Segmentation

The global flooring market's various vital segments have been determined by material, type, applications, and regions. Materials available in flooring have been segmented to include tiles, vinyl & rubber, wood, and others. Tiles are highly popular and come in a variety of sizes, shapes, designs, and materials to achieve the perfect aesthetic.

Types of flooring have been segmented to include soft covering, resilient, non-resilient, and others.

Applications of flooring can be found across healthcare, retail, education, hospitality, and sports. Flooring based on application is useful to deliver specific aesthetics or achieve a certain purpose. For example in healthcare, flooring should be hard and easy to clean. In sports, the flooring should be level and help absorb shock.

Regions covered in the report have been segmented into Europe, North America, Asia Pacific, and the Rest of the World

Regional Analysis

The Asia Pacific market has established itself as a market leader in the region and is followed by North America and Europe. North America and Europe are well-developed markets which are growing due to renovations and new installments with regards to existing infrastructure. There is new construction happening in this region which is driving growth. However, new construction projects are not as high in number as those in the APAC. The APAC is a rapidly developing region with rising economic status due to the presence of several emerging economies with a high volume of construction projects across various sectors including healthcare, government, education and residential to name a few.

Key Players

Gerflor Group (France), Shaw Industries, Inc. (U.S.), Forbo Holding AG. (Switzerland), Flowcrete Group Ltd. (U.K), Tarkett Company (France), Mannington Mills Inc.(U.S.), Mohawk Industries Inc. (U.S.), LG Hausys, Ltd. (Korea), Polyfloor Inc. (U.K.), and Floorworld LLC (Dubai) are the leading market players in the global flooring market according to MRFR’s report. The report covers their market positions and market strategies used to expand market share.

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