Global "Soft
Covering Flooring Market" 2020 Industry
research report covers the industry overview with Marketplace Size, Share,
Development, futuristic cost, earnings, demand and distribution data. Its vast
repository offers an analytical summary of the marketplace that can help to the
new and existing player to take a significant decision.
In this report, we
thoroughly examine and analyse the Global market for Soft Covering Flooring so
that market participants can improve their business strategy and ensure
long-term success. This report provides players with useful information and
suggests result-based ideas to give them a competitive advantage in the global Soft
Covering Flooring industry. It will show how other players compete in the
global Soft Covering Flooring Market and explain the strategies you use to
differentiate yourself from other participants.
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Industry Insights
The global soft covering
flooring market size was valued at USD 110.09 billion in 2013 and is
anticipated to exceed USD 152.5 billion by 2020, with a CAGR of about 5.2%.
Better choices available for residential floor replacements and increasing home
improvement needs are anticipated to fuel market growth over the forecast period.
Soft covering floors provide distinctive benefits such as noise-reduction,
dust-binding characteristics, comfort and insulation together with attractive
aesthetics. Besides, enhancing the visual appeal in offices and at homes and
covering floors, carpets tiles and rugs offer a protecting layer to floors. In
cold countries, these products are used widely to prevent the floor from
getting too cold.
U.S and other developed
countries witness a huge demand for rugs and carpets. However, with rising
number of consumers willing to spend on floor coverings to improve the
aesthetic appeal at home and in offices, the demand for rugs and carpet tiles
is anticipated to diminish Soft covering floors consist of rugs & carpets
and broadloom which provide good insulation and have an appeal of a luxurious
exterior. Nevertheless, resilient floors including vinyl tiles are gaining
momentum in present times in residential as well as commercial applications.
This may impede market growth and deter market demand.
Growth opportunities for
new entrants in the soft covering flooring market majorly can be anticipated in
the manufacturing technology and research & development domains. In
addition, growing awareness regarding the advantages of spending on
eco-friendly materials in floor covering manufacturing can be beneficial by
utilizing easy availability of key suppliers in the industry.
Major sales and
distribution channels include online shopping, furniture stores, departmental
stores and catalogs that maintain rug and carpets. Additionally, bi box
discount stores and home centers are important channels for a wide range of
products from mid-priced to promotional rugs.
One of the key issues in
present times is the waste disposal problem. Although the industry is growing
at a steady rate, huge amount of waste id created due to used rugs, broadlooms
and rugs. Improper and lacking waste-disposal solutions are anticipated to draw
the attention of regulatory bodies and environmentalists.
Application Insights
The replacement and residential
new construction segment contributed to nearly 70% of the total revenue in
2013. Robust construction activity in developing countries has been on a rise
in the past few years and this has propelled demand for construction materials
including wall coverings and flooring. Demand for non-residential segment is
expected to be impacted by commercial, institutional, and office, construction.
Growing interest of consumers and shifting preference towards rugs and carpets
for home décor to maintain better homes coupled with increasing investments in
commercial real estate has boosted market demand for flooring solutions.
Services in hospitality and expanding tourism market are expected to drive the
soft covering flooring industry over the forecast period.
Regional Insights
North America soft covering
flooring market emerged as the market leader in 2013, in terms of revenue and
accounted for 35% of the market, followed by Asia Pacific. Manufacturers have
been continuously focusing on the development of sustainable and environment
friendly carpets in the region thereby resulting in market growth owing to
demand for such flooring solutions, particularly in Europe and the U.S.
Emerging economies such as
China and India are anticipated to grow at a rapid pace over the next six
years. This growth can be ascribed to the increased expenditure in home
improvement and renovation in the region coupled with capital investments which
have favorably influenced regional market growth.
Competitive Insights
Key market players in the
soft covering flooring industry include AstroTurf LLC, Abbey Carpet Company
Inc, Bentley Mills Inc, Beaulieu Group LLC, Cargill Inc, Engineered Floors LLC,
Dixie Group Inc, Mannington Mills Inc, Mohawk Industries Inc, Milliken &
Company, Trinseo SA and Royalty Carpet Mills Inc.
In order to expand globally
and enter new markets, companies are increasingly concentrating on mergers and
acquisitions. As an instance: The Tarkett acquired Desso; Floors N More LLC
acquiring ALJ Regional Holdings; and the purchase of Atlas Carpet MillsbyDixie
Group.
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