Flooring Market Size Worth $621.54 Billion By 2028 | CAGR 6.1%: Grand View Research, Inc.

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Mar 02, 2021, 03:35 ET

SAN FRANCISCO, March 2, 2021 /PRNewswire/ -- The global flooring market size is expected to reach USD 621.54 billion by 2028 registering a CAGR of 6.1%, according to a new report by Grand View Research Inc. Rising urbanization and expansion of ultramodern workspaces and offices coupled with evolving consumer lifestyle are expected to drive the market growth.

Key suggestions from the report:

The resilient product segment is expected to ascend at the fastest CAGR of 6.8% from 2021 to 2028 on account of the wide acceptance of performance floorings including rubber, vinyl, carpet, linoleum, cork, and others
In 2020, the residential application segment dominated the market with a share of 54.3% and is likely to expand further at a steady CAGR from 2021 to 2028
The segment growth is attributed to the rising residential building construction activities across the globe
On the other hand, the industrial application segment is expected to record the maximum growth rate during the forecast period
Asia Pacific is estimated to be the largest regional market by 2028; however, MEA is projected to register the fastest CAGR over the forecast period
Prominent players in the market are focusing on the acquisitions of smaller companies to enhance their product portfolio and strengthen their presence in the global market

Read 143 page research report with ToC on "Flooring Market Size, Share & Trends Analysis Report By Product (Soft Coverings, Non-resilient, Resilient, Seamless), By Application (Residential, Industrial, Commercial), By Region (MEA, APAC), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/flooring-market-analysis

The rapidly growing global construction industry and the resultant demand for insulation are expected to boost the market growth. The increased availability of innovative construction solutions with attributes, such as low maintenance and high durability, is anticipated to have a positive impact on the market.

The development of innovative floor covering solutions and changing consumer trends in construction solutions and floor designs have been critical in the industry development over the last few years. A high degree of integration is observed between the prominent players to achieve optimum business growth in the market. Mergers & acquisitions and joint ventures are undertaken by companies to extend their business portfolio and geographical reach.

Grand View Research has segmented the global flooring market on the basis of product, application, and region:

Flooring Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

Soft Covering
Resilient
Non-resilient
Seamless

Flooring Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

Residential
Commercial
Industrial

Flooring Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
Spain
Italy
Russia

Asia Pacific

China
Japan
India
Australia

Central & South America (CSA)

Brazil
Argentina

Middle East & Africa (MEA)

Saudi Arabia
UAE

List of Key Players of Flooring Market

Mohawk Industries, Inc.
Tarkett, S.A.
AFI Licensing
Shaw Industries, Inc.
Interface, Inc.
Gerflor
Mannington Mills, Inc.
Polyflor

Find more research reports on Advanced Interior Materials Industry, by Grand View Research:

Soft Covering Flooring Market – The global soft covering flooring market size was estimated at USD 81.87 billion in 2017 and expected to register a CAGR of 3.2% from 2018 to 2025.
Non-resilient Flooring Market – The global non-resilient flooring market size was estimated at USD 192.25 billion in 2014 and is expected to grow at a CAGR of 4.7% from 2015 to 2020.
Commercial Flooring Market – The global commercial flooring market size was valued at USD 27.06 billion in 2016. Product innovation and hassle-free installation technologies in the floor covering sector are expected to expand the industry size over the next eight years.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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