The United States floor covering sales strengthened due to rising consumer confidence and a sharper increase in single-family home construction. Square foot sales increased, however, did not keep pace, due to a decline in multi-family housing started slowdown in the commercial markets. A key propellant for the expansion of the market is marked growth in the building and construction industries. The main challenge faced by the industry is the volatility in the prices of raw materials. Builder purchase gains may continue to gain profit, as millennials begin to form households. Home floor coverings spending benefited from a double-digit increase in residential improvement construction spending. The builder market makes profits and offers opportunities for the floor covering industry. Home furnishings and floor covering manufacturers are also adopting digital printing technology to cut down on operational expenditures. This technology lowers sampling process time and water consumption. It is also considered to be an eco-friendly alternative to traditional home furnishings and floor coverings.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the home furnishings and floor coverings manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally including the United States. Furthermore, the COVID-19 pandemic has caused countries including the United States to enact travel restrictions and social distancing measures, disrupting major economic and financial markets. Demand from downstream markets in pandemic induced decline in 2020, due to a decrease in corporate profit and private spending on home improvements for the year however, the market is expected to gain momentum in long term.
Key Market Trends
Growing Urbanization is Driving the Market
The rise in urbanization has created a considerable increase in the rate of construction activities, consequently increasing the scope of the flooring market. The rapid infrastructural developments have increased the demand for flooring products remarkably, hence boosting the overall market. Rapid urbanization has generated a wave of renovation and remodeling activities, increasing demand in the flooring industry. Along with growing investments in the construction industry, the rise in infrastructure to keep up with lifestyle changes contributes to increased demands. Product innovation and customization are just a few parameters that drive market growth. Proliferating residential and commercial construction operations in the country along with rising urbanization and industrialization are major drivers for flooring market growth. The country is also witnessing an increasing demand for online shopping which is expected to help the floor coverings market grow further.
Vinyl Flooring Segment is Growing Rapidly
Vinyl flooring is cost-effective in nature and exhibits various features, such as durability, flexible handling, and design possibilities, which make it suitable to be used in hospitals, schools, offices, and houses. The vinyl flooring market is driven by the accelerating urbanization and industrialization, rising disposable incomes, and the growing interest of consumers towards home décor. The industry is further accelerated by the several advantages that vinyl flooring offers, such as cost-effectiveness, easy installation and maintenance, and moisture resistance. The future of the vinyl flooring market in the United States looks promising with opportunities in residential and non-residential applications. The major drivers for this market are growth in residential construction and renovation activities.
Competitive Landscape
The report covers major international players operating in the United States floor covering market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
Reasons to Purchase this report:
This product will be delivered within 2 business days.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the home furnishings and floor coverings manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally including the United States. Furthermore, the COVID-19 pandemic has caused countries including the United States to enact travel restrictions and social distancing measures, disrupting major economic and financial markets. Demand from downstream markets in pandemic induced decline in 2020, due to a decrease in corporate profit and private spending on home improvements for the year however, the market is expected to gain momentum in long term.
Key Market Trends
Growing Urbanization is Driving the Market
The rise in urbanization has created a considerable increase in the rate of construction activities, consequently increasing the scope of the flooring market. The rapid infrastructural developments have increased the demand for flooring products remarkably, hence boosting the overall market. Rapid urbanization has generated a wave of renovation and remodeling activities, increasing demand in the flooring industry. Along with growing investments in the construction industry, the rise in infrastructure to keep up with lifestyle changes contributes to increased demands. Product innovation and customization are just a few parameters that drive market growth. Proliferating residential and commercial construction operations in the country along with rising urbanization and industrialization are major drivers for flooring market growth. The country is also witnessing an increasing demand for online shopping which is expected to help the floor coverings market grow further.
Vinyl Flooring Segment is Growing Rapidly
Vinyl flooring is cost-effective in nature and exhibits various features, such as durability, flexible handling, and design possibilities, which make it suitable to be used in hospitals, schools, offices, and houses. The vinyl flooring market is driven by the accelerating urbanization and industrialization, rising disposable incomes, and the growing interest of consumers towards home décor. The industry is further accelerated by the several advantages that vinyl flooring offers, such as cost-effectiveness, easy installation and maintenance, and moisture resistance. The future of the vinyl flooring market in the United States looks promising with opportunities in residential and non-residential applications. The major drivers for this market are growth in residential construction and renovation activities.
Competitive Landscape
The report covers major international players operating in the United States floor covering market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET INSIGHTS AND DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Mohawk Industries, Inc.
- Shaw Industries Group, Inc
- Armstrong Flooring
- Interface, Inc.
- Milliken & Company
- Mannington Mills
- The Dixie Group
- Engineered Floors
- Congoleum Corporation
- CBC Flooring
Methodology
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