Flooring Market size to record USD 84.98 bn growth from 2024-2028, Increasing demand for waterproof flooring is one of the key market trends, Technavio

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Mar 27, 2024, 18:39 ET

NEW YORK, March 27, 2024 /PRNewswire/ -- The global flooring market size is estimated to grow by USD 84.98 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 5.9% during the forecast period. The global flooring market encompasses various sectors, including construction, residential and commercial buildings, infrastructure projects, and transportation systems. Flooring materials like vinyl, linoleum, and rubber are popular due to their durability and long lifespan. Urbanization in emerging economies drives demand, with the middle class prioritizing renovation and modernization. Consumer awareness, tourism, and hospitality industries also impact profitability and competitiveness for flooring companies. Waste disposal, installation, renovation, and demolition are key considerations, along with adhesives and resilient flooring materials.

Technavio has announced its latest market research report titled Global Flooring Market 2024-2028

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Innovation Sparks Market Growth:

The Global flooring market encompasses the construction of residential, commercial, and industrial buildings, as well as infrastructure projects such as transportation systems, airports, and public spaces. Flooring materials, including resilient options like vinyl, linoleum, and rubber, play a crucial role in this industry's profitability and competitiveness. Urbanization, driven by emerging economies and the middle class, fuels the demand for new flooring installations and renovations in both residential and non-residential sectors. Infrastructure development and modernization projects also contribute significantly to the market's growth. Consumer awareness, driven by the tourism and hospitality industries, emphasizes durability, long lifespan, and low maintenance for flooring materials. Manufacturers and suppliers must address waste disposal and installation, renovation, demolition, and adhesive challenges to remain competitive. Resilient flooring materials, such as vinyl, linoleum, and rubber, offer advantages like foot traffic resistance, scratch and stain resistance, and dent resistance. Their long lifespan and adaptability to various end use industries make them a popular choice for the flooring industry.

Addressing Challenges:

In emerging economies, urbanization and industrialization fuel the demand for flooring solutions in the non-residential market. The middle class's increasing disposable income drives renovation and modernization projects, leading manufacturers and suppliers to offer durable, long-lasting flooring materials like vinyl, linoleum, and rubber. Consumer awareness regarding foot traffic, scratches, stains, and dents necessitates low-maintenance, replacement-resistant options. The tourism and hospitality industries require high-traffic, resilient flooring materials for enduring durability. Waste disposal and installation/demolition processes necessitate adhesives that ensure efficient and effective flooring installations. Manufacturers and suppliers cater to the needs of commercial buildings, offices, hotels, hospitals, and government and private investments in infrastructure development. Urbanization and industrialization contribute to the growth of the non-residential flooring market, with a focus on long-lifespan, resilient flooring materials for various end use industries.

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Analyst Review

Market Overview

In the Flooring Market, various types of floors are available for construction projects. Commercial and residential buildings require different flooring materials based on their specific needs. Flooring materials include composite materials, concrete, infastructures, and various types of tiles. Flooring can be made from urbanizate rubbers, durable and recyclable materials. Floors can be made from a variety of materials such as wood, marble, and ceramic. Flooring installation is a crucial process that requires precision and expertise. Professionals use specialized tools and techniques to ensure a long-lasting and aesthetically pleasing result. Flooring maintenance is essential to preserve the floor's condition and longevity. Regular cleaning and repairs can prevent costly replacements in the future. The Flooring Market offers a wide range of options to fit any project's budget and requirements.

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Key Companies:

Flooring Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Flooring Market report includes information on the product launches, sustainability, and prospects of leading vendors including Armstrong World Industries Inc., Beaulieu International Group, Belysse Group nv, CLASSEN Group, Forbo Management SA, Gerflor Group, Interface Inc., ITOCHU Corp., James Halstead plc, Kahrs, Kajaria Ceramics Ltd., Karndean, Kingspan Group Plc, Kronospan Ltd., LX Holdings Corp., M. KAINDL GMBH, Mannington Mills Inc., Milliken and Co., Mohawk Industries Inc., Nature Flooring, Orient Bell Ltd., PORCELANOSA Grupo AIE, RPM International Inc., Shaw Industries Group Inc., TOLI Corp., Tarkett, The Dixie Group Inc., Responsive Industries Ltd., Congoleum Corp.

Key Topics Covered:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape

End-user

Residential
Non-residential

Type

Non-resilient Flooring
Resilient Flooring
Soft Cover Flooring

Geography

APAC
North America
Europe
Middle East And Africa
South America

8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Website: www.technavio.com/

SOURCE Technavio