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Flooring chemicals is the key construction material, with a wide range of products that includes soft covering, resilient, non-resilient, and other options. It has a significant impact on the overall ambiance of a residential or commercial scenery. Customers prefer durable flooring over traditional grey quartzite because of its light weight, low cost, and ease of maintenance. Consumers are increasingly turning to user-friendly construction flooring. Furthermore, certain flooring sheets have higher moisture resistance and are preferred in humid areas such as bathrooms. The widespread use of flooring chemicals in both the residential and commercial sectors, which includes corporate buildings, shopping malls, airfields, and sporting venues, is expected to drive market demand.
The growing demand for advanced flooring due to the rising importance of durability and aesthetics is expected to drive the construction flooring chemicals market. Moreover, the increase in commercial & industrial sector worldwide is expected to support growth of the market. Adoption of flooring chemicals in the major commercial buildings such as hotels, cafes, theatres, galleries, sports stadiums and boardrooms, is expected to drive the market. Construction flooring is cost effective, requires low maintenance. Rising construction activities in a number of developing countries is expected to open new pathways for development over the forecast period. However, fluctuating crude oil prices are supposed to remain one of the most key challenges for key industry participants in the coming years, thus stifling the development of the construction flooring chemicals market.
Key Market Driver -
Increased application in commercial construction is expected to drive the market.
Key Market Restraint -
Volatility in raw material prices is likely to restrict the market growth.
The global construction flooring chemical market is segmented based on type, application, and geography. Based on type, it is classified into soft covering, resilient, non-resilient, and others. Based on application, it is categorized into residential, industrial/commercial, and infrastructure. From a geographical standpoint, the market is categorized to North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global & regional players operating in the construction flooring chemicals market includes, Anderson Hardwood Floors, Asian Granite, Fired Earth, Interface Global, Karndean, Milliken, Mannington Mills, Tarket, Armstrong World Industries, Inc. Forbo, Mohawk Industries, Inc., Shaw Industries, Congoleum Corporation, Gerflor, Interface Incorporation, James Halstead Plc., The Dixie Group, Toli Corporation and others.
Asia-Pacific is the fastest growing region in the market. Rapidly increasing construction industry, industrialization, and government initiatives are aiding to the growth. Low production cost and increase in disposable income have supported the market growth in the region. China is the largest user of flooring chemicals in the region and is expected to have the fastest growth in the near future. Europe's construction flooring chemicals market, led by the UK, France, Italy, and Germany, will grow at a steady rate. Renovation and refurbishment activities in the U.S. and Canada are being driven by an increased emphasis on home decor and improving people's lifestyles. For instance, the Leading Indicator of Remodelling Activity (LIRA) revealed that annual growth in home improvement and redevelopment expenses is set to increase, giving rise to investment in home furnishings such as carpets, and other floor coverings that contribute to the artistic appeal of interior spaces. The Middle East and Africa construction flooring chemicals market is expected to grow significantly as a result of rising investments in infrastructural upgradations. The increased emphasis on home renovation project and infrastructural development activities in Latin America drives the growth of the home construction flooring chemical market.
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