Published Thu, Jan 7th 2016
Flooring Market was valued at US$ 214.29 Bn in 2014 and is anticipated to reach US$ 391.38 Bn in 2023, expanding at a CAGR of 7.0% between 2015 and 2023.
Transparency Market Research publishes a new research report titled “Flooring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to the report, the global flooring market is projected to witness a healthy CAGR of 7.0% from 2015 to 2023, growing from a value of US$214.2 bn in 2014 to US$391.3 bn by 2023. While the rapid development in infrastructure in emerging economies and rise in construction activities has driven the global flooring market, the fluctuating prices of raw material is anticipated to hinder the growth of the overall market.
By product, the flooring market is segmented into tiles, wood flooring, carpets and rugs, vinyl and rubber flooring, and others such as laminate flooring. The carpets and rugs segment witnessed the highest demand in 2014, with the demand mainly emerging from cold regions. Economic recovery in regions such as North America has also resulted in the rising demand for carpets and rugs in various residential and commercial spaces. Tiles also form a significant category thanks to the rapid infrastructural development in emerging economies.
The key application areas of the flooring market include commercial, residential, automotive, and industrial. In 2014, the residential sector held the largest share in the overall flooring market, mainly owing to the rising construction of residential spaces in developing countries such as Brazil, India, Indonesia, Costa Rica, and Malaysia. The commercial as well as industrial application segments are also anticipated to witness strong growth in developing countries thanks to economic growth and robust investments.
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The global flooring market is segmented on the basis of geography into Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. In 2014, Asia Pacific emerged as the leader in the global market, mainly owing to rapid and large-scale commercialization in emerging economies and rise in construction and building activities in the region. The flooring market in Asia Pacific is also driven by strong infrastructural development in the industrial, commercial, and healthcare sectors of countries such as India and China. Rise in per capita income, increase in corporate earnings, and growth of the GDP are other factors that boost the demand for flooring materials in this region.
The report identifies and evaluates the performance of the top companies competing in the global flooring market. The leading players featured in the report are Avant Holding GmbH, Tarkett Group, Boral Limited, Mohawk Industries, Inc., Mannington Mills, Inc., Armstrong World Industries, Inc., Gerflor Group, and Shaw Industries Group, Inc. These players are reviewed in the research report based on attributes such as company and financial overview, product portfolio, recent developments, and business strategies.
Flooring Market: Product Segment Analysis
Flooring Market: Application Analysis
Flooring Market: Regional Analysis
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers.
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