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The global resilient flooring market size is predicted to reach USD 58.11 billion by 2027. The growing cognizance about the aesthetic appeal of Luxury vinyl tiles (LVT) will bolster healthy growth of the market during the forecast period, states Fortune Business Insights, in a report, titled “Resilient Flooring Market Size, Share & COVID-19 Impact Analysis, By Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum, and Others), By Application (Residential, Commercial and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 29.62 billion in 2019 and is expected to exhibit a CAGR of 9.3% between 2020 to 2027.
Introduction of Mannington’s Updated Sheet Vinyl Patterns to Promote Business
Mannington, a leader in fine flooring, Mannington Mills based in New Jersey (USA) announced the launch of a new pattern and four new colorations to existing patterns. Miramar, a new to the Revive® collection features the Glam/Luxe trend in a unique diamond geometric design with subtle veining and soft color variation. The Miramar is available in three colors: sand, fog, and mist. The 36”x48” repeat in Miramar promises elegance to any space and style. Deco, on the other hand, comes in the new Pewter color with an authentic reproduction of a 12” encaustic tile. Penny Lane is a small‐scale hexagon that incorporates soft‐honed marble with colorful insets. The new colorway is White Quartz with Basalt, a classic black and white coloration, similar to the 1920s. Coral Bay is an innovative pattern with unique textures and hues of real coral. It also features a new color called Overcast. City Plaza is multi‐sized stones modular layout, the colorway stone offers a highly textured neutral beige backdrop. The launch of the new sheet vinyl patterns by the company will create opportunities for the market owing to its inherently waterproof and pet-friendly Guardian™ Protection
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Rising Demand from Commercial and Residential Sectors to Propel Market
The growing adoption of resilient floorings in the residential and commercial sectors is expected to foster the healthy growth of the market. The growing awareness about the advantages of such floorings, like low maintenance, smooth surface, easy to clean, and moisture resistance will spur its opportunities in both the sectors. The increasing importance of innovative interior designs and Leadership in Energy & Environment Design (LEED) in the construction industry will stimulate the growth of the market. Besides, the rising prominence of green infrastructure will further boost the market in the forthcoming years.
Focus on Product Development by Key Players to Reinforce Industry
The increasing competition among industry players to develop new products has improved the prospects of the market. The ongoing product enhancement by eminent players will enable speedy expansion of the market during the forecast period. For instance, Interface Inc., a major provider of resilient floorings announced the development of products by incorporating recycled material to reduce carbon footprints. The company aims to become a carbon negative enterprise by 2040 with its environment-friendly products.
The Report Lists the Main Companies in the Resilient Flooring Market:
Further Report Findings:
The Resilient Flooring Market is Segmented into:
Value (USD Billion) and Volume (Million Square Feet)
Product Type, Application and Geography
By Product Type