Flooring Market by Material (Resilient, Non-Resilient (Ceramic tiles, Wood, Laminate, Stone), Soft-floor covering), End-use Industry (Residential, Non-residential), & Region (North America, Europe , APAC, MEA, South America) - Forecast to 2028

Growing Investments in Construction Industry

The flooring market is projected to grow from USD 331.9 billion in 2023 to USD 510.7 billion by 2028, at a CAGR of 9.0% during the forecast period. The growing population, rising per capita income, rapid industrialization, and infrastructural development have led to the growth of the construction industry, thereby driving the demand for flooring market.

By Material, Resilient flooring material accounted for the highest CAGR during the forecast period

Out of the three flooring material types (Carpets & rugs, Resilient and Non-resilient), resilient flooring is the fastest growing segment during the forecast period. Resilient flooring includes: Vinyl flooring and Others (cork, linoleum, rubber, and resin) flooring. Resilient flooring material is designed to be durable, flexible, and resistant to wear and tear. In resilient material type flooring, vinyl flooring holds the largest market share and is also the fastest growing. Vinyl flooring is popular due to its versatility, low cost, and ease of maintenance. Resilient flooring is growing in popularity due to its durability, easy maintenance, wide range of design options, cost-effectiveness, comfort, safety, and advancements in manufacturing technology.

By End-Use Industry, Non-residential accounted for the highest CAGR during the forecast period

Out of the two end-use industries (residential, and non-residential), non-residential is the fastest growing segment during the forecast period. The non-residential flooring market is experiencing growth due to various factors. These include economic development and infrastructure investments, which create a demand for flooring solutions in commercial buildings. Technological advancements have also led to the development of innovative and sustainable flooring materials. The non-residential sector's focus on design and aesthetics drives the need for a diverse range of flooring options. Additionally, safety, sustainability, and indoor air quality considerations contribute to the market's expansion.

Asia Pacific is projected to account for the highest CAGR in the flooring market during the forecast period

The Asia Pacific flooring market is witnessing growth propelled by factors such as rapid urbanization, robust economic growth, a construction boom, the rising middle class, growing emphasis on design and aesthetics, technological advancements, and government initiatives. These elements drive the demand for flooring materials as urban areas expand, consumer purchasing power rises, and infrastructure projects flourish. The region's focus on quality, aesthetics, and sustainability plays a significant role in driving the growth of the flooring market in Asia Pacific.

• By Company: Tier 1 - 40%, Tier 2 - 25%, Tier 3 - 35%
• By Designation: C-Level - 35%, Director Level - 30%, Others - 35%
• By Region: North America - 25%, Asia Pacific - 45%, Europe - 20%, South America - 5% and Middle East & Africa - 5%

Companies Covered: Mohawk Industries, Inc. (US), Tarkett (France), Forbo (Switzerland), Shaw Industries Group Inc. (Georgia), Interface, Inc. (US), and others are covered in the flooring market.

Research Coverage

The market study covers the flooring market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on end-use, material, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the flooring market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall flooring market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.

The report provides insights on the following pointers:

• Analysis of key drivers (increasing population & urbanization, growing investments in construction industry, rising number of renovation activities, and increasing industrialization), restraints (volatile raw material prices), opportunities (Rapidly progressing organized retail sector), and challenges (extremely competitive market) influencing the growth of the flooring market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the flooring market
• Market Development: Comprehensive information about lucrative markets
• The report analyses the flooring market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the flooring market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Mohawk Industries, Inc. (US), Tarkett (France), Forbo (Switzerland), Shaw Industries Group Inc. (Georgia), Interface, Inc. (US), and among others in the flooring market. The report also helps stakeholders understand the pulse of the flooring market and provides them with information on key market drivers, restraints, challenges, and opportunities.