Flooring Market to be Worth USD 646.70 Billion by 2032; Rising Demand for Commercial Amenities to Drive Market Growth

The global flooring market size was valued at USD 395.06 billion in 2023. The market is projected to grow from USD 416.56 billion in 2024 to USD 646.70 billion by 2032, exhibiting a CAGR of 5.7% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Flooring Market Size, Share & Industry Analysis, By Type (Non-Resilient {Ceramic, Wood, Laminate, and Other Non-resilient Flooring}, Resilient {Vinyl (Luxury Vinyl Tiles (LVT), Vinyl Composite Tiles (VCT), Vinyl Sheet Flooring), Rubber, Linoleum, Cork}, and Carpets & Rugs, {Tufted, Woven, and Others}), By End-use (Residential, Commercial, and Industrial), and Regional Forecast, 2024-2032”.

Flooring refers to a finishing material that is applied on a floor structure to arrange a walking surface. Flooring products provide properties, such as protection from dents, moisture and scratches, and are easy to clean. The surging demand for commercial amenities, healthcare, and residential buildings drives market growth.

The market was negatively impacted by the COVID-19 pandemic. The increased restrictions on materials movements during the pandemic, which resulted in a shortage of raw flooring materials, hindered the market expansion.

Encina and Shaw Industries Partnered to Revolutionize Carpet Waste Recycling

In May 2023, Encina and Shaw Industries partnered to revolutionize carpet waste recycling. The collaboration is aimed at generating a sustainable future by decreasing the amount of carpet in landfills. Both companies will also develop new processes and systems to recycle carpet waste, and the partnership will positively impact the environment and benefit consumers and businesses.

Surging Population and Urbanization to Drive Market Growth

The increasing population and urbanization that generated a large space for the construction industry drive the flooring market growth. The market is also driven by the propelled demand for products, including carpets & rugs, tiles, and hardwood floors, due to the large utilization in the construction structures. All these products are mainly used based on the requirements. For instance, hardwood floors are used in residential buildings due to their strength, decorative touch, and long life span.

However, the surging prices of raw materials, including vinyl, fibers, fiber composites, and resins used in surface-covering products, impede market expansion.

Surging New Product Offerings by Major Market Players to Drive Market Expansion

In terms of the competitive landscape, the flooring market comprises of key players operating globally. The increasing new product offerings, safe and unique technology development, and production competency for floor applications by key players to enhance their strength drive market growth.  

Notable Industry Development

• May 2023 – Shaw Industries announced installing innovative solar technology at its carpet tile manufacturing facility. This announcement highlights the company's commitment to sustainability and decreasing carbon footprint. Shaw Industries is taking a step to protect the environment using renewable energy sources.

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

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

List of the Companies Profiled in the Report:

• Mohawk Industries, Inc. (U.S.)
• Shaw Industries Group, Inc. (U.S.)
• TARKETT S.A.  (France)
• Armstrong Flooring, Inc.  (U.S.)
• Forbo Flooring Systems (Netherlands)
• Gerflor (France)
• Interface, Inc. (U.S.)
• Beaulieu International Group (Belgium)
• Toli Corporation (Japan)
• Milliken & Company (U.S.)
• Congoleum (U.S.)
• Flowcrete (U.K.)
• James Halstead (U.K.)
• The Dixie Group (U.S.)
• Victoria PLC (U.K.)
• Mannington Mills, Inc. (U.S.)
• Swiss Krono (Switzerland)
• LX Hausys (South Korea)
• Parador GmBH (Germany)
• MBB - Ihr Bodenausstatter GmbH (Germany)
• Altro Limited (England)
• Welspun Group (India)
• Avant Holding (UAE)
• Twintec Group Limited (Germany)
• Mirage (Canada)
• Kajaria Ceramics (India)
• Engineered Floors (U.S.)

Further Report Findings-

• Asia Pacific holds the largest flooring market share and is the fastest-growing region in the market. The growth in the China is attributed to the rising population and growing need for new regional buildings and infrastructure.
• The increasing use of vinyl and ceramics in non-residential buildings drives the market growth in Europe.
• The increasing consumer expenditure for interior design to improve the residential spaces’ aesthetics and surge the flooring demand drives the market expansion in North America.
• Growing remodeling and renovation activities in the private and multi-story houses to change the structure and appearance of the buildings drive the market growth in South America.

Table of Segmentation: