Published on : Jun 20, 2018
Albany, New York, June 20, 2018: In recent years, high competition has been reported in the flooring industry. Rising need for floor safety especially in industrial and commercial structures will bolster the market development of flooring, finds a new study broadcasted to the wide archive of Market Research Hub (MRH). The study is titled as “Flooring Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”, which is an insightful forecast analysis on the expansion of the global market for flooring for the assessment period, 2018-2026. Geographically, prime regions highlighted in the study include Asia-Pacific, Europe, North America, Latin America and Middle East and Africa.
Analysts have studied that increase in population and growth in urbanization are expected to boost the demand for housing. This is anticipated to pave the way for widespread commercial construction activities such as hotels, offices, and shopping malls. This is one of the key drivers of the flooring industry. As per the active research evaluations, the global flooring market, by volume, is foreseen to reach 32,450 million square meters by 2026. In terms of value, the market is predicted to rise to US$450 bn by the end of the forecast period, with an impressive 6.5% CAGR.
This 319-pages study begins with a brief overview of the flooring market and data analysis of the global market with respect to the segments based on product type, material, and application. In terms of product, the flooring market can be classified into resilient, soft cover and non-resilient. In terms of material, the flooring market can be segmented into ceramic tiles, carpers & rugs, vinyl sheet & tile, wood, laminate, ceramic tiles, stone, and others. In terms of application, the flooring market can be categorized into residential, non-residential, and others. These segments have been analyzed based on present and future trends. Based on segmental analysis, the research study finds following-
- As per the projections, changing lifestyles alongside swaying inclination for designed floors are further expected to augment the demand of flooring to a large extent. The report also finds that increase in remodeling activities in mature economies in North America and Europe is driving the demand for flooring.
- Moreover, the report also analyses that commercial, industrial as well as residential sectors are creating significant growth opportunities for the global flooring market.
- By material type, demand for luxury vinyl tiles has been rising at a faster rate owing to its added value attributes such as scratch and slip resistance, waterproof, and eco-friendliness.
The final section of the report deals with the competitive landscape targeting the major players profiled in the report. Key players mentioned in the study are Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett Group, Boral Limited, and Armstrong World Industries, Inc.
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