Indoor Flooring Market to Reach $226.3 Billion, Globally, by 2031 at 5.4% CAGR: Allied Market Research

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Jul 05, 2022, 09:10 ET

Increase in urban population, consumer preferences for aesthetically better designs, textures, and colors, as well as low-maintenance and easy-to-install floorings drive the growth of the global indoor flooring market.

PORTLAND, Ore., July 5, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Indoor Flooring Market By Type (Ceramic Tiles, Carpet, Vinyl, Linoleum & Rubber, Wood & Laminate, Others), By Construction Type (New Construction, Renovation), By End-User (Residential, Commercial & Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report published by Allied Market Research, the global indoor flooring industry generated $133.3 billion in 2021, and is projected to reach $226.3 billion by 2031, witnessing a CAGR of 5.4% from 2022 to 2031.

Prime determinants of growth

Increase in urban population, consumer preferences for aesthetically better designs, textures, and colors, and low-maintenance, and easy-to-install floorings drive the growth of the global indoor flooring market. In addition, increase in urban population increases the commercial construction activity, which, in turn, provides lucrative opportunities for the growth.

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COVID-19 scenario:

The outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global indoor flooring market, as the pandemic halted production of many products in the indoor flooring market with lockdown restrictions in place.
The demand for indoor flooring decreased significantly from the construction sector, owing to temporary closure of all construction projects.
Supply chain disruptions, unavailability of raw materials, and low labor force were major challenges faced by manufacturers.

The new construction segment to maintain its leadership status throughout the forecast period

Based on construction type, the new construction segment held the highest market share in 2021, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 5.5% from 2022 to 2031, due to various factors such as flexibility, in terms of design, color, and texture offered by these tiles. The report also analyzes the renovation segment.

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The residential segment to maintain its leadership status throughout the forecast period

Based on end user, the residential segment held the largest market share in 2021, holding around three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 5.6% from 2022 to 2031. This is due to increasing global population and rising demand for residential houses. The research also discusses the segments such as commercial and industrial.

Asia-Pacific to maintain its leadership status throughout the forecast period

Based on region, Asia-Pacific is contributed to the highest share in terms of revenue in 2021, holding nearly half of the total market share, and is estimated to continue its dominant share by 2031. Moreover, this region is projected to manifest the fastest CAGR of 6.0% during the forecast period, due to rapid development of the construction industry and easy availability of raw materials. The research also analyzes regions including North America, Europe, and LAMEA.

Leading players:

Armstrong Flooring, Inc.
Beaulieu International Group
Ecore International
Forbo International SA
Interface, Inc.
Mats Inc.
Mohawk Industries, Inc.
Shaw Industries Group, Inc.
Tarkett
Toli Corporation

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Similar Reports We Have:

Industrial Flooring Market - global industrial flooring market size was valued at $7.9 billion in 2021, and is projected to reach $13.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031

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Outdoor flooring Market - global outdoor flooring market size was valued at $16,557.7 million in 2019, and is projected to reach $22,070.0 million by 2027, registering a CAGR of 5.6% from 2020 to 2027.

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