The Flooring Market Size was valued at USD 291.43 Billion in 2023 The Flooring industry is projected to grow from USD 307.10 Billion in 2024 to USD 497.69 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.12% during the forecast period (2024 - 2032). The flooring in the residential and commercial spaces is significant for productivity and other key operations. The residential and non-residential sectors across the globe are increasingly adopting highly efficient flooring for their infrastructure for the aesthetic and operations sectors. The residential sector is rapidly adopting flooring which accounted for over 54% in the year 2020 and it is expected to increase during the forecast period. Commercial spaces such as offices, gyms, malls, and industrial verticals are adopting resilient flooring as they are considered the most durable flooring options in the industry, and features such as sound absorption, durability, and the long life span of those flooring systems increase their demand.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewFlooring Market Trends
The increasing government investments in the construction industry are propelling the demand for quality flooring for infrastructure plans. The government is propelling the offices and the industrial sectors to adopt resilient flooring for efficient productivity and comfort. Therefore, the non-resilient flooring has increased up to 61% in the year 2020. The advent of cost-efficient, durable flooring systems in the industry that is suitable for commercial spaces such as offices, gyms, fitness centers, and hospital buildings are considered the major driver of flooring market growth. Moreover, the increasing number of these commercial spaces is also propelling the overall growth of the flooring industry in recent times.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Additionally, The change in technologies and the advancements in research and development are creating intense competition among the potential market players. The market leaders are bringing in developments in the industry and are enhancing the performance of the existing building materials. For instance, a recent development in the industry was a development in the appearance of LVT floorings. The market players have developed the appearance of LVT floorings with ultra-modern techniques that gives the authentic look to the floorings. Superior industrial and economic development combined with the development of the private sectors in the countries such as India, China, and UAE is considered a favorable environment for the overall growth of the flooring industry. Moreover, the development in installation techniques and innovative construction-related techniques are some of the key opportunities for the overall growth of the flooring industry during the forecast period.
The Flooring market segmentation, based on material, includes Carpets, Tiles, Vinyl & Rubber, Wood & Others. Carpet is dominating the market during the forecast period with maximum revenue share. A carpet is a textile floor covering that usually has a top layer of pile attached to a backing. Wool was traditionally used to make heaps, but during the 20th century, synthetic fibers like polypropylene, nylon, or polyester, which are less expensive than wool, gained popularity.
Based on Type, the Flooring market segmentation includes Soft Covering, Resilient, Non-resilient, and Seamless. In the resilient segment, vinyl is anticipated to disrupt the market due to its durability and moisture-resistant properties. The increasing use of luxury vinyl tiles in residential and commercial buildings will significantly drive the market. The tufted sub-segment is the largest type in the carpets & rugs segment. The tufted carpet is used for wall-to-wall carpeting. It is ideal for those rooms where heavy furniture is placed.
Based on Application, the Flooring market segmentation includes Residential, and Commercial. The residential segment is the leading contributor to the growth of this market. This growth is attributable to the rising population and consumers’ disposable income. Furthermore, the increasing demand for renovation services to elevate the look of buildings will spur floor product demand from the residential sector. Hence, the rising number of residential buildings will fuel the flooring market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewBy region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific recorded USD 180.55 billion in terms of annual revenue in 2020 and will continue to be the largest and fastest-growing region in the market. This can be attributed to increasing planned investments and structured policies for construction activities in India, China, and Southeast Asia. Additionally, rapid industrialization would further drive the regional market. China is the leading country in the market and is expected to register higher growth. The increasing population and need for infrastructure and new buildings are the key factors driving market growth in China.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewThe European market will witness growth backed by the growing use of ceramics and vinyl in non-residential buildings. Additionally, rising consumer expenditure and preference towards luxurious living spaces would drive growth in this region. The rising demand for floor coverings from ongoing construction projects will drive the market in the Middle East & Africa during the forecast period.
In North America, the rising demand for healthcare facilities, commercial buildings, and luxurious houses will boost market growth. In South America, the market is expected to witness significant growth due to increasing renovation and remodeling activities in private and multi-story houses.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Flooring market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Flooring industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Flooring. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Flooring industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Flooring industry to benefit customers and expand the market sector. The Flooring market has recently given medicine some of the most important advantages. Major hair care product market players, including Mohawk Industries, Inc., Tarkett, S.A., AFI Licensing, Shaw Industries, Inc., and others, are attempting to increase market demand by funding R&D initiatives.
Mohawk Industries manufactures a wide range of flooring products, including carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring. The Georgia-based company has grown from a U.S.-focused carpeting manufacturer to a leading player in the diversified flooring market. Mohawk operates three reporting segments: ceramic ($3.6 billion in sales in 2019), North America flooring ($3.8 billion), and the rest of the world flooring ($2.5 billion). The company generates approximately 60% of its sales in the United States.
Also, The Tarkett Group’s leadership position in the flooring industry is the result of 140 years of experience and builds on the talent, values, and commitment of generations of entrepreneurs. Initially known as Allibert and Sommer, the company’s story begins with the ideas, energy, and commitment of its founders. The Group has continuously expanded over the years, welcoming other recognized, entrepreneurial brands from across the world.
Tarkett, S.A.
AFI Licensing
Shaw Industries, Inc.
Interface, Inc.
Gerflor
Polyflor
LG Hausys Ltd.
Forbo Holding AG.
In February 2021: The most renounceable company, Mahindra Life space Developers took on a new project in the residential sector. Huge initiatives were taken by the government and the investment was made used for the construction of the airport
In March 2020: TOLI made a partnership with a corporate company, where high-quality vinyl floor tile was both manufactured and was on sale in Taiwan and China.
August 2023: The demand for sustainable flooring solutions, such as recycled content vinyl and bamboo flooring, witnessed continued growth as homeowners and businesses prioritized eco-friendly materials.
Carpets
Tiles
Vinyl & Rubber
Wood & Other
Soft Covering
Resilient
Non-resilient
Seamless
Residential
Commercial
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 291.43 Billion |
| Market Size 2024 | USD 307.10 Billion |
| Market Size 2032 | USD 497.69 Billion |
| Compound Annual Growth Rate (CAGR) | 6.12% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Gerflor Group (France), LG Hausys, Ltd. (Korea), Flowcrete Group Ltd. (U.K), Polyfloor Inc. (U.K.), Forbo Holding AG. (Switzerland), Tarkett Company (France), Floorworld LLC (Dubai), Mohawk Industries Inc. (U.S.), Shaw Industries, Inc. (U.S.) and Mannington Mills Inc. (U.S.) |
| Key Market Opportunities | Rapid growth in industrialization and urbanization |
| Key Market Dynamics | Rapid growth in the construction industry across the globe The rise in home improvement and renovation projects |
Flooring Market Highlights:
Frequently Asked Questions (FAQ) :
The Flooring market size was valued at USD 291.439 Billion in 2023.
The market is projected to grow at a CAGR of 6.12% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Flooring market.
Asia Pacific is likely to dominate the global flooring market over the forecast period.
The key players in the market are Gerflor Group (France), LG Hausys, Ltd. (Korea), Flowcrete Group Ltd. (U.K), Polyfloor Inc. (U.K.), Forbo Holding AG. (Switzerland), Tarkett Company (France), Floorworld LLC (Dubai), Mohawk Industries Inc. (U.S.), Shaw Industries, Inc. (U.S.) and Mannington Mills Inc. (U.S.).
The Carpets category dominated the market in 2021.
The Resilient base had the largest share in the market for Flooring.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
