Published on : Apr 18, 2018
Albany, New York, April 18, 2018: It has been well-identified that flooring which looks good and is easy to clean is important for most consumers. Owing to growing demand across the construction industry and increased home improvement and renovation projects, the market for flooring products in residential applications is expected to witness steady growth all over the world. With a prime focus on U.S. region, a study titled “Residential Flooring-US-April 2018” has been broadcasted to the massive database of Market Research Hub (MRH). The report majorly focuses on overall US market, analyzing latest trends and future prospects until the end of 2022. The estimated market size has been provided covering total U.S. sales and forecasts residential flooring at current prices, for the period 2012-22.
As reported, the residential flooring market has grown expressively, owing to a strong housing market and product innovations in function and design. The study covers products that landowners buy and/or install for themselves, as well as products installed for consumers by professional homebuilders, contractors, and management companies in advance of or following the sale of a residence. According to the findings, there has been steady growth forecasted for $25.5 billion flooring market until the end of 2022.
Some of the prime factors analyzed in the report are as follows:
- Home sales and housing starts growing, together with prices
- Macroeconomic factors suggest positive outlook
- Aging housing stock can drive demand for new flooring
- Homeowners investing in home improvement and repair
In the initial section, the comprehensive report provides an executive summary and a standard definition pertaining to residential flooring in the U.S. The executive summary offered in the report provides with the key outcomes of the assessment conducted and key components of the report. The market definition and executive summary are followed by the market segmentation, which sections the market into different segments and offers in-depth analysis pertaining to their growth.
Moreover, the research presents consumer data regarding the demand for residential flooring, key consumers and their preferences. As per consumer perspective, the research finds that younger consumers, parents, and affluent buyers are key to the market, ease of maintenance is top consideration in flooring selection, and for the consumers replacing old flooring is key driver with various secondary motivations, home improvement stores are leading retail channel, and attitudes toward carpeting and hard surfaces suggest opportunities.
In the coming years, the research suggests that there are some positive aspect present in the market and participating in growth. It has been analyzed that waterproof vinyl flooring and rigid core flooring are top performers because they offer tougher and easier to clean surfaces. Innovations in other hard surfaces help them hold their ground, and improved durability, cleaning, water-resistance in the laminate. On the other hand, the report also adds that challenges are greatest for carpeting, which faces stiff competition from innovative, easy to maintain hard surfaces.
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