Flooring Market: Expected to Be Worth $542.5 Billion by 2027

November 29 18:28 2019
Flooring Market: Expected to Be Worth $542.5 Billion by 2027

Browse 146 market data Tables and 36 Figures spread through 176 Pages and in-depth TOC on “Flooring Market”
Flooring Market Type by Material (Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate)), End-use (Residential, Non-residential), and Region

According to a research report titled “Flooring Market Type by Material (Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate)), End-use (Residential, Non-residential), and Region – Global Forecast to 2027″, published by MarketsandMarkets, the global flooring market size is expected to grow to USD 542.5 billion, up from USD 339.3 billion, as of 2018, at a CAGR (Compound Annual Growth Rate ) of 5.7%.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110789434

One of the most significant factors for the (expected) steady growth is the rise in renovation and remodeling activities (in households, as well as commercial buildings), as an effect of rapid industrialization and urbanization throughout the world. Some of the other factors contributing to the expected growth are an increase in investments in the construction industry, rise in population, and a growing focus and interest toward interior decoration in households.

Vinyl Segment to Grow Fastest During the Forecast Period

The reason why vinyl is considered one of the most versatile materials in flooring is manifold.

Vinyl’s resistance to mold, mildew, and moisture makes it easier to clean and maintain a kitchen,  making it one of the most suitable flooring options. Its low cost and easy installation also contribute to its growing popularity in both residential and commercial applications alike.

LVT (Luxury Vinyl Tile) is a type of vinyl flooring that is gaining popularity as a versatile flooring solution since it offers durability along with a myriad of design options. Due to its minimal maintenance and high strength, it is also considered a more economical option than its other premium material counterparts. All such factors have led to an increasing application and usage of vinyl flooring in a variety of sectors, including the corporate, hospitality, healthcare, residential, and other commercial sectors.

The Residential Sector Expected to Dominate the Flooring Market

As of 2017, the residential segment comprises the largest share of the flooring market. This trend is expected to continue and rise steadily until 2027. One of the most compelling factors for this is the increasing demand for aesthetically pleasing flooring materials, which also reflects a growing interest in interior decoration as a trend. With the rise of economies globally, and the rise of income in households in both developed and emerging economies, housing renovation and maintenance (often as a reflection and/or symbol of lifestyle, culture and status),  as trends, have increased steadily in the recent past, and are expected to grow even more in the foreseeable future.

Request for sample report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=110789434

The Asia-Pacific Region Projected to Grow at the Fastest CAGR

The Asia-Pacific region is slated to be the fastest-growing market for flooring plans during the forecast period. Some of the attributes resulting in the high demand for flooring plans in this region are rapid urbanization and the growing construction industry. What also helps is that the governments of this region have implemented policies and plans that support the growth of the flooring market. Within the Asia-Pacific region itself,  China is projected to grow at the highest CAGR during the forecast period. The Middle Eastern and African markets are expected to follow China with the second-highest CAGR by 2027.

Some of the key players, from around the world, in the business of flooring plans include Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), Forbo (Switzerland), Gerflor (France), Interface (US), Beaulieu International (Belgium), TOLI Corporation (Japan), and Milliken & Company (US).

With an extensive product portfolio and a wide geographical presence, these key players have adopted a diverse range of major strategies to remain at the top of the flooring market. New product launches, expansions, investments, acquisitions, and partnerships are some of them.

Bundle Reports

  • Carpets Rugs Market
  • Plumbing Fixtures Market
  • Industrial Floor Coating Market
  • Entrance Matting Market
  • Artificial Grass Market

Get Special Pricing on Bundle Reports: http://bit.ly/2R0CCof

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/flooring-market-110789434.html