Floor Covering Industry Overview
The global floor covering market size was valued at USD 364.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2028.
The market is majorly driven by rising urbanization and the expansion of ultramodern workspaces. Also, the rising demand for wood flooring is expected to be a key trend transforming the global market in terms of growth prospects and market opportunities. Wood flooring has become a key element of floor covering, making it one of the fastest expanding categories in the furniture business. The product demand is projected to be supported by an increase in refurbishment and renovation operations, as well as a rising do-it-yourself trend.
Gather more insights about the market drivers, restrains and growth of the Global Floor Covering Market
In the flooring business, increasing building expansion is also a major driver. Rising investments in Asian infrastructure and industries are expected to boost product demand. Residential construction activity in developed countries like Germany, the U.S., and the U.K., has seen considerable demand for the product. The covid-19 pandemic has also affected the market for floor covering in various regions. As lockdown was imposed, the supply chain was disturbed. The emergence of the COVID-19 epidemic had a minor influence on the worldwide floor covering industry. This impact is mostly due to significant interruptions in raw material transportation as well as a temporary shutdown of the manufacturing industry and end-use sectors, resulting in a drop in demand and sales for floor covering products and materials during this period.
Furthermore, as governments eased lockdown restrictions, E-commerce sales of flooring materials rose as customers turned to online shopping channels to meet their needs. The worldwide market for floor covering will be pushed in the near future by the construction industry's expansion and increased infrastructure investment. Over the projected period, a plethora of future building projects in both developed and developing nations are likely to present profitable prospects for the global floor coatings market players. The exponentially growing urban population is driving up commercial development activities.
According to the data published by World Bank, the urban population is growing at a high rate creating necessities for commercial and residential buildings. Commercial building projects such as commercial complexes, lodging facilities, hospitals, and shopping malls are being triggered by the expanding urban population. Consumers are heavily investing in high-end residential complexes with attractive flooring finishes, which is fueling the growth of the flooring industry. Customized flooring goods are in high demand due to a rapid shift in lifestyle. Key players operating in the market for floor covering are taking key initiatives and are continuing to create products that outperform current materials and meet ever-evolving consumer demand.
The demand for floor covering is seen increasing as it is required to outfit the workplace and residence area. Also increasing demand for insulation is also expected to boost market growth over the forecast period. An increase in office improvement is witnessed as companies are redecorating office areas to include modular systems furniture. Hence, the market for floor covering is estimated to showcase growth over the forecast period. In the current global market, the increasing focus on home decor and better consumer lifestyles are also promoting renovation and remodeling operations.
Consumers are increasingly spending on home furnishings such as rugs, rugs, and other flooring materials that add to the aesthetic appeal of interiors, due to a growing trend of spending on the style and interiors of living spaces. The market will rise owing to aging infrastructure in North America and Western Europe, as well as an increase in regulating and maintenance operations. The demand for atheistically pleasing flooring materials is increasing as the quality of living in emerging nations improves.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports
- Eco Fiber Market: The global eco fiber market size was estimated at USD 43.07 billion in 2022 and is expected to register a growth of 7.6% in the forecast period.
- Stone Paper Market: The global stone paper market size was estimated at USD 831.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030.
Key Companies Profile
Some of the prominent players in the floor covering market include:
- Shaw Industries Group Inc.
- Mohawk Industries Inc.
- Armstrong Flooring
- Gerflor Group
- Forbo Holding
- Mannington Mills Inc.
- TOLI Corporation
- Tarkett Group
- Dixie Group Inc.
- Milliken & Company
Order a free sample PDF of Floor Covering Market Intelligence Study, published by Grand View Research.
This report researches and evaluates the impact of Covid-19 outbreak on the Boat Carpet and Floor Covering industry & recovery after 2nd wave, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Boat Carpet and Floor Covering and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Market OverviewThe Boat Carpet and Floor Covering market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Market segmentationBoat Carpet and Floor Covering market is split by Type and Application.
For the period 2016-2027, the growth among segments provide accurate calculations and forecasts for sales by Type and Application in terms of volume and value.
This analysis can help you expand your business by targeting qualified niche markets.“If You Need, We Can Customize Professional Reports According To Your Requirements.”Get Sample Copy of This Report: https://www.reportsandmarkets.com/sample-request/global-boat-carpet-and-floor-covering-market-3818866?utm_source=soccernurds_medium=24 The key market players for global Boat Carpet and Floor Covering market are: Shaw Industries, Corinthian Marine Carpet, Camsal Carpet, Haima Carpet, Jiangsu Kaili Carpet, Shenzhen Meijili Carpet, HUADE Group, Zhemei Carpets, Mohawk Flooring, Interface, Dinarsu, Tarkett, Dixie Group, and Sparta Carpets Segment by TypePolyurethaneVinylVinyl BlendsSegment by ApplicationInboardOutboardWhy Choose Our Market Research?As one of the world’s largest data provider, our reports in each area are the most authoritative analysts to study the data in the most comprehensive, more innovative perspective, to create new opportunities for customers.We adhere to the concept of customer first, according to the actual business needs of customers, customized services to provide rapid optimization, quality service experience.
Business covering energy, automobile, medicine industry and so on more than 365+ industryGlobal PerspectiveOur expert team has strong understanding of the way businesses take place on global level.
