Flooring Market by Material (Non-Resilient Flooring, Resilient Flooring, Soft Floor Covering or Carpets & Rugs), End Use (Commercial, Industrial, Residential) - Global Forecast 2024-2030

Flooring Market by Material (Non-Resilient Flooring, Resilient Flooring, Soft Floor Covering or Carpets & Rugs), End Use (Commercial, Industrial, Residential) - Global Forecast 2024-2030

The Flooring Market size was estimated at USD 434.80 billion in 2023 and expected to reach USD 461.28 billion in 2024, at a CAGR 6.37% to reach USD 670.36 billion by 2030.

Flooring refers to covering a floor or installing such a cover, providing both aesthetic and practical benefits. Flooring significantly contributes to an interior space's overall look and feel, influencing the ambiance and decor. Rapid urbanization, increased home renovation projects, and rising commercial construction investment have driven the flooring market in past years. Additionally, a growing emphasis on interior design and aesthetics in residential and commercial buildings supports the expansion of the flooring market. However, the high cost of premium materials can deter customers, especially in price-sensitive markets. In addition, installation challenges and the need for skilled labor can limit the penetration of flooring products worldwide. Nevertheless, the introduction of advanced, durable, and cost-effective materials and increased adoption of luxury vinyl tile (LVT) due to its realistic designs and ease of maintenance is expected to augment the adoption of flooring in the coming years.

Regional Insights

The Americas represents a robust demand for eco-friendly and sustainable flooring solutions, primarily due to increasing environmental consciousness among consumers and stringent regulatory standards. Moreover, increased commercial real estate investment has increased demand for high-quality, durable flooring. The Asia Pacific region is witnessing rapid urbanization and a booming construction sector, propelling the demand for flooring products. The adoption of luxury flooring within the burgeoning middle-class population and the availability of diverse flooring materials is expanding the usage of flooring products in the Asia-Pacific region. In European Union countries, a strong preference for energy-efficient and sustainable materials and increasing renovation activities in older residential and commercial buildings drive the demand for modern flooring solutions. GCC countries are seeing significant investment in new development, with huge investment in infrastructural development, creating positive prospects for the flooring market in the coming years.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Flooring Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing Population and Rapid Urbanization & Industrialization
    • Rise in the Renovation and Remodeling Activities
    • Increasing Popularity of the Vinyl Flooring and Ceramic Tiles
    • Market Restraints
      • Fluctuating Raw Material Prices of Flooring
      • Market Opportunities
        • Increasing Advancements and Innovations in Flooring Materials and Coverings
        • Emerging Adoption of Environmentally Sustainable Flooring
        • Market Challenges
          • Environmental Concerns Associated with Flooring
          • Market Segmentation Analysis
            • Material: Potential for resilient flooring across residential sectors
            • End Use: Significant investments for flooring solutions among commercial sectors
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Flooring Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Flooring Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • ITOCHU Announces Development of Eco-friendly Flooring and Launch of Flooring Material Recycling Business
              
              ITOCHU Corporation introduced DESSO, an innovative, eco-friendly flooring solution from the European producer Tarkett S.A. This initiative aligns perfectly with the rising necessity for sustainable practices, especially given the significant plastic consumption in the construction sector. Tarkett's legacy of sustainability is evident in DESSO's design, which allows for the fiber surface to be detached and recycled, dramatically reducing waste.
              
              Shaw Announces Partnership with Classen Group
              
              Shaw Industries Group, Inc. formed a strategic alliance with German-based Classen Group, renowned for producing innovative, PVC-free flooring solutions. This collaboration designates Shaw as the exclusive North American distributor for Classen's new commercial flooring offerings. Together, Shaw and Classen are set to redefine the hard surface flooring market, emphasizing sustainability and design excellence.
              
              B.I.G. Acquires Australian B2B Flooring Wholesaler Signature Floors, Strengthening its Position in the Australian and New Zealand Market
              
              Belgian International Group (B.I.G.) announced its strategic acquisition of the full suite of operations of Signature Floors, an esteemed business-to-business flooring wholesaler in Australia. This acquisition is poised to bolster the expansion prospects of both entities within the soft, resilient, and hard flooring sectors across the Australian and New Zealand markets.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Flooring Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Flooring Market, highlighting leading vendors and their innovative profiles. These include Abet Laminati S.p.A., Adore Floors Inc., AHF, LLC, American Biltrite Inc., Barlinek S.A., Bauwerk Group AG, Beaulieu International Group, Congoleum Corporation, Daejin Co., Ltd., Daiken Corporation, Forbo Holding AG, Gerflor Group, Goodfellow Inc., Greenlam Industries Ltd., Impermo-Stultjens NV, Interface, Inc., Jiangsu Taide Decoration Materials Co., Ltd., Kronospan Limited, Kährs Holding AB, LX Hausys, Ltd., Mannington Mills, Inc., Mercier Wood Flooring, Milliken & Company, Mohawk Industries, Inc., Raskin Industries LLC, Responsive Industries Limited, Shaw Industries Group, Inc., Swiss Krono Group, Tarkett S.A., Toli Corporation, Trelleborg AB, Victoria PLC, Wellmade Floor Coverings International, Inc., and Zhejiang Hailide New Material Co., Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Flooring Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Material
              • Non-Resilient Flooring
                • Bamboo
                • Ceramic Tiles
                • Laminate
                • Stone
                • Terrazzo
                • Wood
                • Resilient Flooring
                  • Cork
                  • Linoleum
                  • Resin
                  • Rubber
                  • Vinyl
                  • Soft Floor Covering or Carpets & Rugs
                  • End Use
                    • Commercial
                    • Industrial
                    • Residential
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year