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Flooring Market- Overview

Flooring is the usual term for a permanent covering of a floor, or it can be defined as the work of installing such a floor covering. Floor covering is generally described as any finish material applied over a floor that provides a walking surface with aesthetics. Flooring and floor covering are used interchangeably. However, floor covering is mostly used for loose-laid materials.

Common floor covering materials include vinyl sheet & tiles, carpets & rugs, laminates, natural stone, wood, ceramic tiles, and rubber. Resilient, non-resilient, and soft cover types of flooring materials are used based on type of application.

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Various types of tile flooring such as ceramic, porcelain, quarry, and mosaic are available in the market. Two major types of vinyl flooring, sheet flooring and tile, are employed in commercial and residential buildings. Vinyl composition tile (VCT) is the industry standard for most commercial applications, as it is durable, resilient, and available at a relatively low cost.

Increase in demand for soft covering flooring products such as carpet tiles, area rugs, and broadloom in North America is projected to augment the flooring market during the forecast period. Demand for residential flooring is increasing, especially in emerging countries such as India, Costa Rica, Brazil, Malaysia, and Indonesia, owing to expansion in the construction industry in these regions. These are the major factors driving the market. However, use of toxic chemicals for manufacturing of carpets in the textile industry and presence of volatile materials in vinyl products may lead to several health issues. This is one of the key factors expected to hamper the flooring market during the forecast period.

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In terms of product, the non-resilient segment held 64.0% share of the global flooring market in 2017. The resilient segment is expected to expand at a rapid CAGR during forecast period. This can be ascribed to the constant growth of LVT and its sub-category WPC/rigid core. In terms of material, ceramic tiles is projected to be a highly attractive segment of the global flooring market during the forecast period. In terms of application, the residential segment accounts for a major share of the global market.

The continuing recovery in the construction industry in many countries after several years of recession is expected to boost demand for flooring products. Asia Pacific held a significant share of the market in 2016 in terms of value and volume. The region is expected to continue its dominance throughout the forecast period. The market in Europe and North America is likely to expand at a significant pace in the near future.

This report analyzes and forecasts the market for flooring at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (million square meters) from 2017 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global flooring market. It also covers impact of these drivers and restraints on demand for flooring during the forecast period and includes current flooring market indicators. The report also highlights opportunities in the flooring market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global flooring market. Porter’s Five Forces model for the flooring market has also been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein product, material, and application are benchmarked based on their market size, growth rate, and general attractiveness.