Flooring Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Flooring market size is expected to be worth around US$ 621.60 billion by 2030, according to a new report by Vision Research Reports.

The global Flooring market size was valued at US$ 409.03 billion in 2020 and is anticipated to grow at a CAGR of 6.5% during forecast period 2021 to 2030.

Growth Factors

Increasing government spending on infrastructural development is expected to play an important role in augmenting the demand for flooring. The rising need for comfort and privacy owing to noisier surroundings has spurred the demand for insulation across the flooring market as a well-insulated floor creates an improved sound environment. This has resulted in the growing demand for insulation, thereby supporting market growth. Moreover, consumer preferences for aesthetically improved designs, textures, & colors and low-maintenance & easy-to-install floorings are anticipated to ascend the market growth.

The development of hassle-free installation techniques, availability of innovative construction solutions, and the rising demand for environmentally sustainable products are anticipated to fuel the industry growth. The presence of a stringent regulatory framework on the production, usage, implementation, and recycling is also likely to have a positive impact on the market growth.

Increasing investments and continuous R&D in flooring products have led to the introduction of flooring materials with enhanced durability and strength. Moreover, customization options, in terms of color, texture, and finishing, offered by the manufacturers have contributed to higher product demand, thereby augmenting the market growth.

Report Highlights

The non-resilient flooring segment led the market and accounted for more than 61% share of the global revenue in 2020 due to a rise in the number of residential and commercial construction activities across the globe. The segment will retain its leading position throughout the forecast period on account of the high demand for these products due to their excellent water resistance and durability.

The resilient flooring segment is estimated to register the fastest CAGR from 2021 to 2028 due to the high demand for these materials in commercial applications, such as offices, gyms, fitness centers, hospitality buildings, and others. These products are cost-efficient and durable and are the right fit for use in high-traffic residential and commercial areas on account of their ease of maintenance and noise-reduction capabilities. Moreover, resilient floorings are dense, non-absorbent in nature, and comfortable to walk on.

Ceramic and natural stone are popular materials for construction applications. Seamless flooring is applied in the industrial environment, wherein, a large floor area is covered with resins and concrete materials. Maintenance and installation of seamless flooring are less expensive as compared to its counterparts.

The residential application segment led the market and accounted for more than 54% share of the global revenue in 2020. High disposable income levels and rise in the number of single-family houses in developing economies are among the key factors responsible for the segment growth.

Favorable growth of the housing sector in emerging markets including South Africa, Turkey, India, China, and the Middle Eastern countries, on account of the easy availability of home loans, is expected to have a positive impact on the segment growth over the forecast period. In addition, advancements in installation services are likely to propel the industry's growth.

Rising demand for highly durable and cost-efficient flooring for use in high-traffic commercial areas is projected to boost the commercial application segment growth over the forecast period. The development of new products and easy installation techniques are also driving the commercial segment. Expansion of modern offices and workspaces, growing renovation activities in commercial spaces, and rapid industrialization in developing economies are further expected to propel the segment growth.

Asia Pacific dominated the market and accounted for over 42% share of global revenue in 2020 and will maintain its dominant position over the forecast period. This growth is attributed to the increased demand for flooring from emerging economies, such as China and India. The government reforms for the development of the construction sector in India contributed significantly to the regional market growth. Housing for All programs by the government of India is anticipated to support the product demand.

Moreover, changing consumer preferences and demand for product variation and better designs are likely to boost the regional market growth over the forecast period. The demand for flooring in North America is anticipated to increase over the forecast period. The well-established construction industry in the U.S. and Canada coupled with rising demand for single-family houses in the region is likely to provide growth opportunities to the market. Europe is anticipated to register a significant growth rate during the forecast years owing to the presence of prominent manufacturers in the region coupled with technological developments.

Key Players

  • Mohawk Industries, Inc.

  • Tarkett, S.A.

  • AFI Licensing

  • Shaw Industries, Inc.

  • Interface, Inc.

  • Gerflor

  • Mannington Mills, Inc.

  • Polyflor

Market Segmentation

  • Product Outlook 

    • Soft Covering

    • Resilient

    • Non-resilient

    • Seamless

  • Application Outlook 

    • Residential

    • Commercial

    • Industrial

  • Flooring Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • Spain

      • Italy

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

    • Central & South America (CSA)

      • Brazil

      • Argentina

    • Middle East & Africa (MEA)

      • Saudi Arabia

      • UAE

The Flooring market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Flooring market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Flooring market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Flooring market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Flooring market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Flooring capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Flooring by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Flooring market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Flooring market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Flooring market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Flooring industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Flooring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Flooring market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Flooring market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Flooring market. These factors have benefited the growth of the global market for Flooring. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Flooring. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Flooring are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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