Flooring Industry was estimated at approximately USD 266.48 Billion 2022

 Flooring Industry Data Book Covers Ceramic Tiles, Resilient Flooring, Soft Covering Flooring, Wood & Laminate Flooring Markets.

The economic value generated by the flooring industry was estimated at approximately USD 266.48 billion in 2022.

Flooring Market Report Highlights

The global flooring market size was estimated at USD 266,477.9 billion in 2022, and it is expected to reach USD 398.27 billion by 2030, expected to register a growth of 5.6% CAGR (2022-2030).

  • The vitrified (porcelain) accounted for 27.6% of the total revenue of the flooring market in 2021. The market is estimated to reach USD 109.20 billion by 2030. This growth is attributed to the durable properties of porcelain, due to which it is highly preferred in residential and commercial structures.
  • The residential application segment accounted for 49.2% of the revenue share in 2021. This is owing to the rising population in developing countries and increased spending on residential buildings in developed countries.
  • The commercial application segment was estimated at USD 166.76 billion in 2021 and is expected to grow at a CAGR of 5.2% over the forecast period. This growth is attributable to growing commercialization and urbanization in developing regions in the Asia Pacific region.
  • The Asia Pacific region dominated the flooring market in 2021 with a market share of 44.96% and this trend is expected to continue over the coming years. The rising population in growing economies such as India, Saudi Arabia, Japan, and Indonesia is propelling the demand for flooring in the market.
  • The North American region contributed about 13.71% of the total revenue share in 2021. The flooring industry in North America is expected to witness significant growth over the coming years on account of the increasing construction of residential and commercial buildings in the region.

Ceramic Tiles Market Report Highlights

The global ceramic tiles market size was estimated at USD 59,692.1 billion in 2022, and it expected to reach USD 656.25 billion by 2030, expanding at a CAGR of 5.2% CAGR (2022-2030).

  • The demand for porcelain ceramic tiles is expected to witness a CAGR of 7.6% over the estimated time owing to its wide applications in residential flooring applications and benefits including durability and enhanced aesthetics
  • In Europe, the revenue for glazed ceramic tiles in 2021 stood at USD 20.56 billion and is projected to witness a CAGR of 5.8% during the forecast period on account of the increasing popularity of eco-friendly building materials with high aesthetic value
  • In 2021, commercial flooring applications dominated the global market with a share of around 67% on account of the high penetration of ceramic tiles in office construction driven by superior aesthetics and durability offered by the product
  • The market in Asia Pacific is expected to witness a CAGR of 8.2% by revenue from 2022 to 2030 on account of the wide acceptance of the ceramic product in flooring applications
  • Industry participants focus on achieving long-term contracts with players in application industries to gain a competitive advantage. Small-scale players in the market are also adopting such strategies to increase their penetration in the competitive market.

Access the Global Flooring Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Resilient Flooring Market Report Highlights

The global resilient flooring market size was USD 29,225.3 billion in 2022, and it is expected to reach USD 65.29 million by 2030 and is expected to expand at 6.1% CAGR (2022-2030).

  • Luxury Vinyl Tile (LVT) accounted for the highest share of 39.1% in 2022. As these tiles can be easily designed with endless patterns and in several color options, thereby offering a wide range of product varieties for the application industries. LVTs have higher vinyl content, which makes them durable, flexible, and sturdy. These are versatile and high performing resilient flooring option available in plank, tile, and sheet formats. Vinyl is a non-porous waterproof material, which makes the tiles perfect for use in kitchens and high traffic areas
  • The rising preference for resilient flooring by designers and architects is expected to boost the demand in the commercial application segment over the projected period. Moreover, the expansion of modern offices and workspaces, growing renovation activities in commercial spaces, and rapid industrialization in developing economies are expected to propel resilient flooring market growth over the forecast period
  • The resilient flooring product demand in domestic as well as international markets is projected to witness surge over the forecast period with Asian resilient flooring manufacturers increasing their production capacities and providing improved quality and cost-effective products, especially luxury vinyl tiles. The availability of a wide range of colors and designs, ease of installation, stain resistance, and durability of the products are few factors projected to drive the demand for LVT resilient flooring over the forecast period
  • Increasing migration in the country’s largest cities including Sao Paulo and Rio de Janeiro as well as in emerging cities is projected to drive the demand for new dwellings. Furthermore, growing consumer awareness is projected to create opportunities for the sustainable construction of residential buildings in the private sector, thereby driving the demand for environment-friendly flooring materials including linoleum and cork over the projected period
  • Innovators, market leaders, and emerging players characterize the competition in the global resilient flooring market. The market has witnessed extensive competition on account of increasing innovations and growing demand for resilient flooring products. A large number of manufacturers are engaged in the research & development activities to introduce sustainable flooring materials

Soft Covering Flooring Market Report Highlights

The global soft covering flooring market size was estimated at USD 35,591 billion in 2022, and it is expected to reach USD 105.54 billion by 2025. It is anticipated to register a CAGR of 4,8% CAGR (2022-2030).

  • Carpet tiles segment is expected to expand at a CAGR of 3.6% in terms of revenue from 2017 to 2025 owing to increasing product demand from high-traffic commercial and institutional applications due to easy installation and higher shock absorption
  • Residential application segment accounted for 54.1% of market share in terms of revenue in 2017 on account of its high insulating properties to prevent the floor from getting too cold which aid in reducing the energy consumption
  • Carpet tiles and broadloom in commercial application is expected to register a CAGR of 3.3% in terms of revenue over the forecast period owing to its superior characteristics, such as high resistance to abrasion, anti-slipping effect, and sound absorption
  • Middle East and Africa is expected to register a CAGR of 5.5% owing to the rising product demand in residential application on account of rising consumer spending on residential replacement and household interior
  • The soft covering flooring market is highly competitive with major manufacturers focusing on innovative styles, product differentiation, designs, and effective services to gain greater market share

Wood & Laminate Flooring Market Report Highlights

The global wood and laminate flooring market size was valued at USD 51,765.1 billion in 2022, and it is expected to reach USD 90.46 billion by 2025, expanding at a CAGR of 6% CAGR (2022-2030).

  • Wood flooring segment is expected to expand at the fastest CAGR of 5.5% over the forecast period owing to the product properties that result in the superior aesthetics in residential and commercial building interiors
  • Residential flooring application for wood and laminate flooring dominated the market with a share of 70.11% in 2018 and is anticipated to witness a considerable CAGR owing to increasing construction of single-family and multi-family structures
  • The revenue for laminate flooring in North America stood at USD 3.48 billion in 2018 and is likely to register notable growth over the forecast period on account of growing trend of using wood-like flooring available at lower cost
  • Europe accounted for the a revenue share of 40.3% in 2018 owing to the abundant availability of varied wood species and a wide acceptance of the products to prevent cold temperature
  • In November 2017, Mohawk Industries, Inc. acquired Godfrey Hirst Group. This acquisition enhanced Mohawk’s products reach and geographical presence, especially in Australia and New Zealand

Order your copy of the Free Sample of “Flooring Industry Data Book - Ceramic Tiles, Resilient Flooring, Soft Covering Flooring, Wood & Laminate Flooring Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the flooring industry are –

  • Mohawk Industries, Inc.
  • Tarkett, S.A.
  • AFI Licensing
  • Burke Flooring Products, Inc.
  • Forbo Flooring
  • Shaw Industries, Inc.
  • Interface, Inc.
  • Gerflor
  • Mannington Mills, Inc.
  • Polyflor
  • RAK Ceramics
  • Crossville Inc.
  • Atlas Concorde S.P.A.
  • Porcelanosa Group
  • Kajaria Ceramics Limited

Grand View Research’s flooring industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Go through the table of content of Flooring Industry Data Book to get a better understanding of the Coverage & Scope of the study

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: Micro Markets

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Food and Beverage ERP Solutions Procurement Intelligence: Food and Beverage ERP Solutions category is expected to have pricing growth outlook of 8.2% From 2023 To 2030

  Food and Beverage ERP Solutions Category Overview The food and beverage ERP solutions category is expected to grow at a CAGR of 8.2% from 2023 to 2030.Consumers are increasingly seeking transparency and traceability in the food and beverage business, which is fuelling this category's growth. ERP solutions can help businesses to track the origin of their ingredients and products, which can in turn help ensure food safety and meet consumer demand. The supply chain for the food and beverage industry is complex and has a wide range of players. ERP solutions can help businesses to optimize their supply chains, improve efficiency, and reduce costs. Technologies such as cloud computing, barcode scanning, and RFID labels are used under this category. Cloud computing offers a cost-effective and scalable solution for hosting ERP software, enabling remote access to data and applications. Barcode scanning is a fast and efficient method for tracking inventory and materials, improving traceabi...
Read more

Contact Center Software Market Worth $149.58 Billion By 2030

Contact Center Software Industry Overview The global contact center software market size was valued at USD 23.94 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2022 to 2030.  The growth of the market can be attributed to the growing adoption of cloud-based and virtual contact center solutions to achieve better business continuity. Contact centers across the globe are focusing on transforming customer experience from a single interaction to an entire journey of consistent and personalized interactions. At this juncture, contact center software is helping businesses in ensuring a seamless customer experience across all communication channels. The strong emphasis businesses are putting on streamlining and personalizing customer interactions to enhance customer satisfaction is driving the growth of the market. According to a study by Salesforce.com, Inc., around 84% of customers consider the experience provided by a particular company e...
Read more

Manned Guarding Services Procurement Intelligence : Manned Guarding Services Category Is Expected to Grow at CAGR of 13.5% From 2024 to 2030

  Manned Guarding Services Category Overview The manned guarding services category is anticipated to witness growth at a CAGR of 13.5% from 2024 to 2030. Asia Pacific dominates the global category, followed by North America (with the fastest growth rate) and Europe. Rising standards of living, urbanization, and population are the key factors driving Asia Pacific’s growth. In addition, the region’s expanding tourism industry, coupled with political and economic stability, is also propelling the category’s expansion. The growing usage of technologies, such as access control systems and CCTV, is propelling the demand for the services offered in the category in North America. It has also helped companies to cut expenses while improving the safety of their employees and facilities. The demand in Europe is driven by the demand for more security at public events and venues and the growing incidence of terrorist incidents. Order your copy of the  Manned Guarding Services Pro...
Read more