This market research report presents a detailed segmentation of the global flooring market by type (soft covering, tiles, wooden, and others). It provides a market share analysis and projections of the key regions, including the Americas, APAC, Europe, and ROW. The key vendors analyzed in this report are Armstrong, Gerflor, Mannington Mills, Mohawk, and Tarkett.
Technavio has released its new market research report, global flooring market, which is expected to grow at a CAGR of around 6% between 2016 and 2020. The growing construction sector is the primary growth driver for this market. The demand for efficient and aesthetically appealing products is growing globally, boosting the demand for new flooring options. The Americas is the largest market for flooring, accounting for 40% of the total make share. The flooring market in the Americas is primarily driven by the rise in investment in the residential construction sector and the growing demand from the remodelling and new constructions sector.
“Increase in the choice of floorings has led to customization of flooring in terms of color and texture. The market is witnessing a huge range of flooring options with different material mixes. For instance, tile infused with glass is shiny and is used for walls, while a tile infused with metal is used for all wear and tear conditions. Now-a-days, manufacturers are using recycled materials for flooring and maple floorings to have a positive impact on the environment,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
The soft covering segment dominates the market, accounting for a market share of around 48%. The ease of their installation and their varied nature are the key drivers for their popularity in both the commercial and residential sectors. Moreover, as they help in noise absorption, they are a practical choice in apartments, aiding in restricting the travel of sound between floors.
The leading vendors in the global flooring market include Armstrong, Gerflor, Mannington Mills, Mohawk, and Tarkett. This market is highly fragmented with the presence of well-established and unorganized players in various segments of flooring. Flooring manufacturers are investing in new product development, which in turn is leading to intense competition among the vendors. In terms of marketing, large vendors are focusing on creating a brand identity and manufacturing products affordable by all classes.
A more detailed analysis is available in the Technavio report, Global Flooring Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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