Asia-Pacific Flooring Market Outlook, 2027

Asia-Pacific Flooring Market Outlook, 2027

The Asia-Pacific region is one of the leading flooring regions, producing a variety of tile and flooring marbles. Coatings, marbles, and other products made in Asia-Pacific years ago had brick and block industries. The industry is increasing with the fabrication of floors and tiles, and new firms have entered the market, providing consumers with more alternatives and improving the area of coatings and renovations. As evidenced by the region’s total production and consumption of flooring, China is a leader in the flooring market in Asia-Pacific and is well-known throughout the world. It is a leading producer and user of ceramic tiles in the Asia-Pacific area. An increase in investment in affordable housing development is expected to drive the building industry. Governments in nations such as Indonesia and India aggressively provide land and construction cost subsidies while also reducing red tape in planning and approval processes. These measures are having a favorable impact on the Asia-Pacific construction market as a whole. The penetration of international brands, aided by advantageous trade rules, has contributed to the expansion of the Asia-Pacific commercial sector. The subsequent increase in the development of office buildings, shopping malls, lodging facilities, and other utility spaces throughout the region is expected to drive demand for ceramic tile flooring materials.

According to the Outlook, ""Asia-Pacific Flooring Market Outlook, 2027,"" published by Bonafide Research, the flooring market is anticipated to grow at a 7.16% CAGR in terms of value during this forecasted period. Growing investment by major market players in the research and development of flooring has impacted the market's growth. Different types of flooring markets have gained market share in every region, including Asia-Pacific. The majority of companies manufacture these products for residential use, both non-resilient and resilient. Resilient housing is in demand and construction has surged. They want both the exterior and interior to be designed. This has resulted in increased demand and market growth. Carpets, rugs, and non-resilient materials are also in high demand. is expected to grow rapidly because there is a continuous increase in construction of buildings, malls, and corporate institutions. As a result, market growth will increase.

The tile and flooring industry has expanded significantly around the world, particularly in Asia's fast-growing Pacific economies. In the coming years, infrastructure and capital projects are likely to see a significant increase in investment. Moreover, due to market replacement needs, the residential sector may maintain its dominance in the application sectors over the forecast period. The demand for long-lasting, low-maintenance, cost-effective, and visually appealing items has prompted industry innovation for products that are expected to provide comfort and good value. Due to increasing demand from corporations wishing to relocate and expand their office spaces, Tokyo's office building market is witnessing unexpectedly consistent inflation. In past years, new office buildings had a total floor space of around 1.09 million square meters. The office vacancy rate is still at an all-time low, and most of the recently constructed building's office spaces are already booked up.

Carpets and rugs are popular because of their aesthetic and technical qualities. It's an addition to floor coverings that adds to the overall beauty of a house or office's decor. Rugs and carpets protect floors by adding a layer of padding. Rugs and carpets are a godsend for people who live in cold climates because they keep the floors warm. In developed economies, demand for carpets and rugs is higher. Residential, commercial, and industrial applications are the most common uses for carpets and rugs. The development of the carpets and rugs market will be affected by an increase in the number of remodeling and remodeling operations, as well as increased urbanization and globalization. Furthermore, increased consumer interest in interior design, as well as the expansion of the transportation and construction industries, is all factors to consider.

COVID-19 Impact
The flooring market and real estate business were severely impacted by COVID-19. There were a lot of restrictions on the movement of materials, resulting in a shortage of raw materials. The lockdown rules and regulations limited the activities of contractors and builders. In this region, many countries were affected, like China, India, Japan, and other countries. These have decreased the consumption of finishing materials in the same time span. Due to this, demand for resilient flooring products has been reduced in the residential and non-residential sectors. The COVID-19 pandemic has had a significant impact on resilient flooring retail and distribution. E-commerce sales of resilient flooring products increased in the first quarter of COVID-19 as consumers shifted their focus to online retail channels to meet their needs.

Major Companies present in the market:
Mohawk Industries Inc., Shaw Industries Group, Inc., Tarkett S.A., Milliken & Company, Forbo Holding AG, Beaulieu International Group, Interface, Inc., Amtico International Limited, Gerflor Group, James Halstead Plc, Swiss Krono Group, Victoria Plc, Oriental Weavers Group, Toli Corporation, Armstrong Flooring, Inc., Kajaria Ceramics Limited

Considered in this report
• Geography: Asia-pacific
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecasted year: 2027

Aspects covered in this report
• Asia-pacific Flooring Market with its value and forecast along with its segments
• Country wise Flooring market analysis
• Application wise flooring market distribution
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• China
• Japan
• India
• Australia
• South Korea

By material flooring material type in the report:
• Resilient Flooring
• Non-resilient flooring
• Carpet and Rugs

End use of flooring in the report:
• Residential
• Commercial
• Industrial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to solar panel coating industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.