18th November 2019 – The global commercial
flooring market is expected to cross USD 47.69 billion by 2025.
Floorings are essential components of any commercial structure that is gaining
a wider prominence in applications that include automobiles, aviation,
manufacturing, and aerospace. Technological advances and stylish trends have
paved the way for market growth in the past few years along with users’ shift
from regular flooring to cost effective yet eco-friendly flooring alternatives,
made of bamboo, glass, polyester, and hardwood.
In addition, the installation of novel
products in residential and commercial domain emphasizing on innovative
techniques have driven the commercial flooring industry in the recent years.
The market is also influenced by increase of production in the automobile
sector that demands car flooring. Overall, the commercial flooring market is
expected to witness a significant CAGR in the forecast period.
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Commercial flooring industry is driven
by factors such as rise in the number of commercial and business spaces in
emerging economies, coupled with rise in manufacturing sector. In addition,
consumption of construction materials comprising floor coverings is likely to
gain a significant CAGR in the forthcoming period. Rise in construction sector
due to expansion of business on the global scale and change in lifestyle of
people propel the market growth in the forecast period. In addition, rise in
demand from automotive and manufacturing sector and refineries is likely to
fuel the market growth in the forecast period.
Commercial flooring market is segmented
by product, application, and geography. Product segment includes soft covering,
resilient flooring, non-resilient flooring and seamless flooring. Application
segment for commercial flooring industry includes healthcare, education,
retail, leisure & hospitality, public buildings and commercial buildings.
Geographical segmentation for commercial
flooring market includes North America, Latin America, Europe, Asia-Pacific,
Middle East and Africa. North America market dominates the global market
accounting for a higher market share and increase in infrastructural
developments and urbanization. Asia-Pacific market accounts for a significant
share in the global market owing to constant supply of raw materials and
presence of manufacturing base in large. The key players in the commercial
flooring industry include Tarkett, Mannington Mills, James Halstead, Nora,
Tajima, Novalisa, Milliken Floor Covering, NOX Corporation and Toli Flooring.
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