Published on: December 10, 2019
The flooring market size is forecast to increase by USD 84.98 billion at a CAGR of 5.9% between 2023 and 2028. Market growth is driven by the rapid expansion of the global construction sector, evolving flooring needs in key industries, and the increasing demand for environmentally friendly and sustainable flooring solutions. The construction sector's growth, especially in developing regions, fuels the demand for innovative flooring options that meet both aesthetic and sustainability requirements. Industries such as healthcare, hospitality, and retail are seeking durable, easy-to-maintain flooring solutions that also align with their environmental goals.
Rapid urbanization and population growth are driving construction in many parts of the world, thereby raising demand for flooring as well. Residential buildings, commercial buildings, and industrial structures are driving the demand for innovative flooring solutions. Flooring types include materials such as ceramic, wood, laminate, carpet, and natural stone, and end-user buildings include apartments, small houses, offices, retail stores, and more.
Several trends are shaping the flooring market, including the rising popularity of eco-friendly solutions such as cork, bamboo, and natural linoleum. Digital printing allows for highly customizable designs and patterns, particularly in vinyl flooring. Resilient flooring materials like vinyl and linoleum are popular due to their durability and waterproofing properties. Innovations in flooring products, such as scratch-resistant tiles and waterproof laminates, are catering to evolving consumer preferences.
The flooring industry faces challenges related to waste disposal, greenhouse gas emissions, and the carbon footprint associated with manufacturing processes. There are many opportunities in the flooring market, however, particularly in segments such as affordable housing and smart city construction. The integration of innovative products such as virtual assistants and winter collection flooring also presents avenues for growth and differentiation.
Explore Technavio’s Reports on the Flooring Market
Technavio’s market research on this industry provides a detailed analysis of the market landscape, providing data on product types, regional markets, sales channels, and more.
Our flooring market segmentation covers topics such as:
APAC is projected to account for 48% of the global market’s growth by 2028. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC dominates the market due to robust residential and commercial construction. China, India, and Japan are key contributors. Though China's economic slowdown affects construction, other Southeast Asian countries show potential for growth. Non-resilient flooring like wood, stone, and ceramic drive the market, offering durability and climate suitability. Technology advancements and awareness of alternatives like laminates and LVT are growing. Performance sectors like education and healthcare contribute to market growth.
Technavio's flooring industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our flooring market reports include:
Learn more about the flooring industry: Explore Reports
In order to provide you with a comprehensive view of the flooring industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
1.How do I identify key trends in the flooring market?
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
2.How do I decide which segments of the flooring market to focus on?
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
3.Who are the major players in the flooring market?
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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