Global Flooring
Market is foretold to provide a
robust support for industry players to lay a solid foundation for their
business growth. It includes a comprehensive evaluation of the industry growth
status and risk. In addition, it provides detail market variables, trends, key
opportunities, new entrants & competitors.
Flooring Market study offers
detail overview of industry with all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
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Industry Insights
The global flooring market
to reach USD 326.38 billion by 2020. Innovations and new developments in
construction solutions and floor designs have been the key drivers of the
flooring market. The industry depicts high competitiveness as numerous
companies are offering a broad range of solutions in commercial, residential,
industrial and various other sectors. The market for floor coverings is hugely
influenced by new technological developments and styling trends.
In the last few years,
end-users have been shifting from traditional flooring solutions and moving
towards eco-friendly and highly cost-effective flooring materials that include
cork, bamboo, linoleum, polyester, glass, reclaimed hardwood, and rubber.
Moreover, changing consumer lifestyles along with increasing demand from the
construction industry and insulation markets are likely to drive the demand
over the years ahead. Due to the availability of advanced construction
materials that offer durability and require less maintenance, the industry
growth is expected to be favorable over the years ahead. However, a major
factor influencing the industry growth is awareness among consumers & their
willingness to use the product. Flooring solutions are perceived as complex
from the installation point of view.
Additionally, they are
generally viewed as luxurious and expensive. These consumer perceptions might
act as a key challenge to the industry. Rising concerns regarding environmental
impacts of the flooring material is likely to have a significant effect on the
textile flooring industry. For instance, carpets that are treated with harmful
chemicals in order to repel soil and moisture to prevent moths are likely to
cause health problems.
Application Insights
Residential, industrial and
commercial are the major application segments of the market. Due to the
increasing demand in construction industry as well as increased product demand
for housing projects, so as to improve homes and their renovation, the
residential sector is likely to witness significant growth in the next couple
of years. Improved standard of living and rising disposable income of consumers
are expected to foster the development of floorings market over the coming
years. Flooring materials are utilized for various commercial sub-applications
that include hospitality and leisure, healthcare, corporate, retail, education,
and sports. The industrial application segment includes manufacturing plants,
automotive, refineries, aviation hangars, etc.
Regional Insights
Asia Pacific is likely to
depict significant market growth, owing to the development of the real estate
industry and infrastructure. Moreover, the region is also expected to witness
an increase in product demand for residential & non-residential building
spaces, as a result of urbanization and population growth. The region accounted
for a total market share of over 40% in 2013. After Asia Pacific, Europe is
expected to witness significant growth in the future, due to the availability
of advanced construction solutions and techniques for easy installation.
Competitive Insights
The suppliers of raw
material, manufacturers and distributors act as key elements of the market
value chain. The key players in the industry include Mohawk Industries,
Manningtion Mills, Inc, Armstrong Flooring, Inc., Shaw Industries Group, Inc.,
and Gerflor. Currently, the market depicts intense competition as key players
are focusing on product innovation and use of advanced technologies so as to
offer value added brands in the global industry.
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