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Flooring Market to Grow at 4.8% CAGR till 2026; Rising Demand for Resilient Options for Households to Positively Impact the Market

May 11, 2020 | Chemicals & Materials

The global flooring market size is set to touch USD 515.71 billion by 2026 as a result of development of sustainable solutions by leading market players, finds Fortune Business Insights™ in its report, titled “Flooring Market Size, Share & Industry Analysis, By Type (Non-Resilient {Ceramic, Wood, Laminate, and Others}, Resilient {Vinyl, and Others}, Carpets & Rugs, {Tufted, Woven, and Others}), By End-Use (Residential and Non-residential), and Regional Forecast, 2019-2026”. As per the report findings, the market value stood at USD 355.17 billion in 2018 and is anticipated to exhibit a CAGR of 4.8% from 2019 to 2026.


Tarkett Announces Plans to Reorient Its Presence in North America


In April 2019, the French flooring solutions provider, Tarkett, revealed its plans to consolidate its manufacturing capacity across North America to optimize its revenue streams in the region. Under its new plans, the company will be moving its flooring accessories plant and commercial carpet factory in Waterloo and Truro in Canada, respectively, to specified locations in Ohio and Georgia in the US. Since most of its products are shipped from Canada to the US, the transition will improve logistics as well as synergize the company’s revenues through significant cost reduction. Thus, operational optimization and production consolidation activities undertaken by key players will help the market grow during the forecast period.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/flooring-market-102740


Environmental Hazards Associated with Different Floorings to Hinder Market Growth


Flooring is one of the most essential components in any kind of building, both from aesthetic and durability points of view. To meet the escalating demand from households and commercial spaces for attractive, low-cost, and reliable solutions, manufacturers are increasingly developing innovative products to cater to these requirements. While this factor augurs well for the market growth, there are certain environmental disadvantages that these products carry. For example, according to the US-based Green Building Alliance (GBA), vinyl floors are derived from petroleum, rendering them non-recyclable, while also emitting harmful gases. Furthermore, the GBA reports that majority of the carpets available in the market are made from nylon, which is also derived from petroleum, making them non-biodegradable. Thus, flooring solutions carry a hefty environmental costs and rising awareness of these shortcomings is prompting many companies to develop eco-friendly products.


Key Players to Invest in Production Capacity Enhancement


The flooring market research reveals that most of the key players in this market are heavily investing in upping their production capacity. The enhanced and improved production capabilities will enable players to develop and deliver advanced and sustainable products more efficiently in diverse regions. In addition to this, some companies are also entering into partnerships to widen their global reach. For instance, in 2017, Japan-based Toli Corporation formed a joint venture with Jiangsu Changlong Decorative Material Technical to establish its presence in China.


Industry Development:



  • December 2018: The Belgian specialist called Beaulieu Flooring Solutions announced that it will be increasing its vinyl rolls production capacity at its JUTEKS plant, one of the world’s leading vinyl rolls manufacturing facility located in Russia. The plan involves building of a second production line in the existing plant and creation of additional jobs at the site.


List of Companies Profiled in the Market:



  • Nora Systems

  • Boa-Franc

  •  Parador

  •  Swiss Krono

  • Mannington Mills

  • The Dixie Group

  • Flowcrete

  • Milliken & Company

  • Beaulieu International

  • Armstrong Flooring

  • Shaw Industries Group, Inc.

  • Engineered Floors

  • Kajaria Ceramics

  • Invista

  • LG Hausys

  • Balta Industries

  • Victoria PLC

  • James Halstead

  • Congoleum

  • Toli Corporation

  • Interface

  • Forbo

  • TARKETT

  • Mohawk Industries


Further Report Findings:



  • The resilient segment, based on type, held a market share of 15.4% in 2018 and the segment is expected to grow considerably in the forecast period owing to rising demand for vinyl tiling products in residential and commercial spaces.

  • Asia-Pacific is predicted to dominate the market in the coming years as governments in the region are providing active policy support to urbanization and industrialization projects. The market size in the region stood at USD 185.4 billion in 2018.

  • In North America, the main growth drivers include increasing construction of multi-storied houses and rising demand for remodeling of commercial spaces.


Table of Segmentation:








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



 2015-2017



Unit



  Value (USD Billion) and Volume (Mn sq m)



Segmentation



By Type



  • Non-Resilient

    • Ceramic

    • Wood

    • Laminate

    • Others



  • Resilient

    • Vinyl

    • Others



  • Carpets & Rugs

    • Tufted 

    • Woven

    • Others





By End-Use



  • Residential

  • Non-Residential



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France,  Spain, Italy, UK,  Russia, and Rest of Europe)

  • Asia Pacific (China, India, Vietnam, Indonesia, Philippines, South Korea, Thailand, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East& Africa (Egypt, Turkey, Iran, Saudi Arabia, Iraq, Israel, UAE, and Rest of Middle East & Africa)


Flooring Market
  • PDF
  • 2018
  • 2015-2017
  • 220

    CHOOSE LICENSE TYPE

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