Flooring Market Report and Forecast 2023-2028

According to the report, the global flooring market is projected to grow at a CAGR of 5.6% between 2023 and 2028. Aided by the proliferation of innovative design trends and the escalating demand for sustainable construction materials, the market is expected to grow significantly by 2028.

Flooring, an indispensable segment of interior architecture, is fundamental not just for its functional utility but also as a key determinant of aesthetic appeal. While ancient civilisations were content with bare or earthen floors, modern requirements have birthed a medley of flooring options ranging from hardwood and laminates to ceramics, vinyl, and a host of resilient flooring alternatives.

A driving force behind the escalating the flooring market growth is the relentless urbanisation globally and the consequent upswing in construction activities across residential, commercial, and industrial sectors. As contemporary structures move towards marrying form with functionality, flooring solutions are increasingly veering towards designs that are both aesthetically pleasing and durably efficient.

The environment-centric paradigm shift in the construction industry is generating a significant flooring market demand. The emergent focus on sustainable and eco-friendly materials has spurred innovation in green flooring options. Materials like bamboo, cork, and reclaimed hardwood have witnessed heightened interest, aligning with the global emphasis on sustainability.

Emerging technology also has a significant role in reshaping the flooring industry. The introduction of digital printing technology in ceramics, for instance, has enabled the creation of tiles that emulate the aesthetics of natural stone or wood, at a fraction of the cost and with enhanced durability. Likewise, the advent of luxury vinyl tiles (LVT) and stone plastic composites (SPC) stands testament to the industry's commitment to blending beauty with resilience.

The healthcare and industrial sectors provide unique opportunities for the flooring market growth. The increasing demand for hygienic, easy-to-clean, and durable flooring solutions in hospitals, clinics, and manufacturing units has catalysed the growth of seamless resin floors and antimicrobial floorings.

Region-specific trends also sculpt the global flooring narrative. The booming economies of the Asia Pacific, for instance, with their burgeoning middle class and their increasing spending power, have emerged as significant growth frontiers for the flooring industry. The tilt towards luxury housing and premium commercial spaces in these regions fuels the demand for high-end, durable, and aesthetically appealing flooring solutions.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

Resilient

• Vinyl
• Linoleum
• Rubber
• Others

Non-Resilient

• Ceramic
• Laminated
• Carpet
• Others

Market Breakup by Application

• Residential
• Commercial
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global flooring market. Some of the major players explored in the report are as follows:

• Mohawk Industries Inc.
• Shaw Industries Group, Inc.
• Tarkett Group
• Armstrong Flooring, Inc.
• Gerflor Group
• Others

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.