The flooring market was valued at $320,289 million in 2021 and is projected to reach $558,208 million by 2031, registering a CAGR of 5.6% from 2022 to 2031. Flooring material is a building material used to construct floors in residential, commercial, and industrial buildings. It comes in a wide range of materials, colors, and shapes. Flooring is installed during the construction of a new building or during the renovation of an existing structure. It improves the interior of the infrastructure and its functionality.
The availability of different styles of flooring solutions to match any interior and exterior setting of a house extend the desirability of flooring solutions.
The fast growth of the population, combined with the construction of new business centers, such as offices, factories, warehouses, sports complexes, hospitality, and healthcare, has prompted the deployment of compact and efficient decor systems. The restoration business continues to benefit from a strong housing market, which includes rise in home building, sales, and equity. Moreover, rise in expenditure by governments and private construction companies on remodeling and repairing of houses has created demand for indoor flooring products, and hence such factor is anticipated to drive the market growth.
Furthermore, the increased focus on sustainable development is driving the demand for flooring solutions that are relatively eco-friendly. This has encouraged key players to innovate and develop ecofriendly floorings, thereby providing lucrative growth opportunities.
The global flooring market is segmented on the basis of printing type, material, end-user industry, and region. By printing type, the market is bifurcated into digital and traditional. On the basis of material, the market is categorized into wood, stone, ceramic, laminate, and others. Furthermore, by end-user industry, it is categorized into residential and non-residential. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launches, business expansion, product development, and acquisitions to strengthen their market outreach and sustain the stiff competition in the market.
The availability of different styles of flooring solutions to match any interior and exterior setting of a house extend the desirability of flooring solutions.
The fast growth of the population, combined with the construction of new business centers, such as offices, factories, warehouses, sports complexes, hospitality, and healthcare, has prompted the deployment of compact and efficient decor systems. The restoration business continues to benefit from a strong housing market, which includes rise in home building, sales, and equity. Moreover, rise in expenditure by governments and private construction companies on remodeling and repairing of houses has created demand for indoor flooring products, and hence such factor is anticipated to drive the market growth.
Furthermore, the increased focus on sustainable development is driving the demand for flooring solutions that are relatively eco-friendly. This has encouraged key players to innovate and develop ecofriendly floorings, thereby providing lucrative growth opportunities.
The global flooring market is segmented on the basis of printing type, material, end-user industry, and region. By printing type, the market is bifurcated into digital and traditional. On the basis of material, the market is categorized into wood, stone, ceramic, laminate, and others. Furthermore, by end-user industry, it is categorized into residential and non-residential. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launches, business expansion, product development, and acquisitions to strengthen their market outreach and sustain the stiff competition in the market.
COMPETITION ANALYSIS
Key companies profiled in the flooring market report include, Armstrong Flooring, AZEK Company, Beaulieu International Group, Citadel Floors, Ebaco India Pvt. Ltd., ECORE International, Inc., Fiberon, Forbo Flooring, Gerflor, Interface Inc., Iron Woods, Mats Inc., Milliken and Company, Mohawk Industries Inc., Shaw Industries, Tarkett S.A., and Toli Corporation.KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the flooring market analysis from 2021 to 2031 to identify the prevailing flooring market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the flooring market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global flooring market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Printing Type
- Digital
- Traditional
By Material
- Wood
- Stone
- Ceramic
- Laminate
- Others
By End User
- Residential
- Location
- Indoor
- Outdoor
- Non-residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ARMSTRONG FLOORING
- AZEK Company
- Beaulieu International Group
- Citadel Floors
- Ebaco India Pvt. Ltd.
- ECORE International, Inc.
- Fiberon
- FORBO FLOORING
- Interface Inc.
- Iron Woods
- Mats Inc.
- Milliken and Company
- Mohawk Industries, Inc.
- Shaw Industries
- Tarkett S.A.
- Toli Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FLOORING MARKET, BY PRINTING TYPE
CHAPTER 5: FLOORING MARKET, BY MATERIAL
CHAPTER 6: FLOORING MARKET, BY END USER
CHAPTER 7: FLOORING MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Flooring Market," the flooring market size was valued at $320.3 billion in 2021, and is estimated to reach $558.2 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.Flooring market includes various types of printed flooring solutions. According to the printing type, the market is bifurcated into digital and traditional. Among these, the traditional segment accounted for the highest market share in 2021, owing to various small-scale businesses involved in traditional printing. Furthermore, on the basis of material, the ceramic segment accounted for the highest market share in 2021, owing to its easy availability, inexpensiveness, and low maintenance. In addition, the market is analyzed among the residential and non-residential building end users. Among them, non-residential segment is expected to grow at a higher CAGR during the forecast period. Furthermore, the market is mainly driven by rise in construction activities due to rapid urbanization and population growth, especially in Asia-Pacific and LAMEA. However, strict government policies of major countries across the world are expected to restrain the flooring market growth.
In 2021, Asia-Pacific held the major flooring market share in terms of revenue. Moreover, the market in LAMEA is expected to grow with a high CAGR, owing to growth in rise urbanization in LAMEA.
Furthermore, rise in public-private partnerships across the world is anticipated to fuel the growth in number of non-residential buildings (PPPs). Moreover, increased awareness among public in general regarding environmental protection has fueled the demand for sustainable products. Thus, key market players are introducing products that are relatively more eco-friendly and sustainable.
Key manufacturers in the market are adopting various strategies to sustain the competition in the market. For instance, in November 2021, Lord Parquet, a flooring manufacturer, unveiled a 100% recyclable flooring solution. This offering incorporates a non-PVC core made of 100% degradable polyethylene.
However, during the pandemic lockdown, various manufacturers in the flooring market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of flooring manufacturing companies. In addition, lack of manpower and raw materials constrained the supply of raw materials for flooring and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the flooring market forecast report include, Armstrong Flooring, AZEK Company, Beaulieu International Group, Citadel Floors, Ebaco India Pvt. Ltd., ECORE International, Inc., Fiberon, Forbo Flooring, Gerflor, Interface Inc., Iron Woods, Mats Inc., Milliken and Company, Mohawk Industries Inc., Shaw Industries, Tarkett S.A., and Toli Corporation.
Key Finding of the Study
The report provides an extensive analysis of the current and emerging flooring market trends and dynamics.
Depending on printing type, the traditional segment dominated the flooring market, in terms of revenue in 2021. Whereas, digital segment is projected to grow at a significant CAGR during the forecast period.
On the basis of material, ceramic accounted for the highest market share in 2021 in terms of revenue.
By end-user industry, non-residential segment is expected to grow at a higher CAGR during the forecast period.
LAMEA is projected to register the highest growth rate in the coming years.
The key players within the flooring market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the flooring industry.
The report provides an extensive analysis of the current trends and emerging opportunities in the market.
In-depth flooring market analysis is conducted by constructing estimations for the key segments between 2021 and 2031.
Companies Mentioned
- Armstrong Flooring
- Azek Company
- Beaulieu International Group
- Citadel Floors
- Ebaco India Pvt. Ltd.
- Ecore International, Inc.
- Fiberon,
- Forbo Flooring
- Interface Inc.
- Iron Woods
- Mats Inc.
- Milliken and Company
- Mohawk Industries, Inc.
- Shaw Industries
- Tarkett S.A.
- Toli Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 229 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 320289 million |
| Forecasted Market Value ( USD | $ 558208 million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
