Global Flooring Market Outlook, 2027

Global Flooring Market Outlook, 2027

The term ‘flooring’ refers to the lower enclosing surface of spaces within residential and non-residential buildings. This may be part of the floor structure, such as the upper surface of a concrete slab, ceramic tile or floor boards, but typically it is a permanent covering of different materials lay over the floor. Flooring can also be used to describe the process of laying flooring material. Various types of flooring are available for different applications, from hardwood, stone and tile, to vinyl, carpet and more. Various factors of flooring such as durability, resistant to scuffs, scratches and stains, water resistance etc., which leads the consumers to use these flooring during the developments and renovation of residential and non-residential buildings. The floor covering industry is depends on various general economic conditions, such as consumer confidence, income and spending, corporate and government spending, interest rate levels, availability of credit and demand for housing. Increasing new construction facilities, surging demand of residential buildings, commercial amenities and healthcare facilities are likely to drive the growth of the market.

According to the report title, “Global Flooring Market Outlook, 2027”, publish by Bonafide research, the market was value at around USD 340 Billion in 2021 and it is anticipated to grow with the CAGR of 6.18% from 2022 to 2027.

Flooring is an indispensable element of new construction and remodeling. There are various types of flooring used in building construction and their selection depends on end-use, aesthetics and choice of user. The two major flooring categories are resilient and non-resilient. Resilient flooring is flooring that has a particular property. When you apply load on a resilient floor, it gives a little and then returns to its standard shape or regains its original position. Non-resilient flooring is precisely the opposite of the resilient. A non-resilient floor has no give. If it’s dented, the dent is permanent. Non-resilient floors are also more likely to flake rather than deform. According to the report, based on material type, market is segmented into resilient, non-resilient and carpets and rugs types. The non-resilient flooring type which includes sub flooring types like ceramic tile, wood, laminate, stone, terrazzo, bamboo etc., is leading the market with more than 60% of value market share.

A floor is a leveled surface which can support the objects, appliances, occupants etc. The flooring material is chosen as per necessity of the user and based on end-use which provides the most productive results for objective, either it may be economically or durability wise. According to the report, based on end-use, market is segmented into residential, commercial and industrial segments. The residential segment is leading the market with more than 63% of value market share.

According to the report, based on region, the flooring market is segmented into five major regions i.e. North America, Europe, Asia-Pacific, South America and Middle East & Africa. The Asia-pacific region is dominating the market with more than 35% value market share. Based on country, china is leading the flooring market with more than 18% market share.

The floor covering industry is highly competitive. Various company faces competition from a number of manufacturers and independent distributors. Maintaining company’s competitive position in market may require substantial investments in company’s product development efforts, manufacturing facilities, distribution network and sales and marketing activities. There are many prominent companies in the flooring market which are driving the market. The companies are Mohawk Industries Inc., Shaw Industries Group, Inc., Tarkett S.A., Milliken & Company and Forbo Holding AG.

Downturns in global economies, including as a result of the COVID-19 pandemic, negatively impact the floor covering industry and various company’s business. A significant or prolonged decline in residential or commercial remodeling or new construction activity could have a material adverse effect on various firms business and results of operations. The lockdown has restricted the construction of housing and building projects and limited fresh purchase of flooring materials. Due to the changing situations and customers approach towards the pandemic situation, the market of flooring is anticipated to bounce back during the forecast period.

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., Toli Corporation, Armstrong Flooring, Inc., Polyflor Limited, Congoleum Corporation

Considered in this report
• Geography: Global
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global flooring market with its value and forecast along with its segments
• Region-wise flooring market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa, Turkey)

Types of Material in the report:
• Resilient
• Non-resilient
• Carpets And Rugs

By End-Use 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, analysing 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 flooring 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.

Keywords: Global, North America, South America, Europe, Middle East, Africa, Asia, Asia-Pacific, China, Japan, India, Australia, South Korea, USA, Canada, Mexico, UK, Italy, France, Germany, Spain, Russia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Turkey, flooring, resilient, non-resilient, carpets and rugs, vinyl, cork, linoleum, rubber, resin, ceramic tile, wood, laminate, stone, terrazzo, bamboo.

This report would help you answer the following questions:
1. What is the market size of global flooring market in 2021?
2. At what rate the global flooring market will grow in forecast period?
3. What are the different types of material use in returnable packaging?
4. Which end-use segment is leading the market?
5. What is the impact of covid-19 on the global Flooring market?