Global Fiberglass Flooring Market - 2023-2030

Global Fiberglass Flooring Market - 2023-2030

Global Fiberglass Flooring Market reached US$ 784.6 million in 2022 and is expected to reach US$ 1254.4 million by 2030, growing with a CAGR of 6.1% during the forecast period 2023-2030.

Fiberglass is increasingly used in the construction and infrastructure industries. It's used in applications including roofing and rebar replacement due to its ability to withstand harsh environmental conditions, which further drives the fiberglass flooring market.

Fiberglass flooring is used in the manufacturing of wind turbine blades. Increasing demand for wind turbines with the growth of renewable energy sources, drives the demand for fiberglass flooring. Fiberglass-reinforced plastics are used in various consumer products such as sports equipment and even furniture. The electronics industry's growth influences the demand for fiberglass flooring.

Asia-Pacific region is growing in urbanization and construction such as residential, commercial and industrial projects. Fiberglass flooring is preferred for its durability and resistance to wear and tear, making it a popular choice in these construction projects and further driving regional dominance in the market making it cover more than 44.3% of the globe

The automotive sector is adopting fiberglass flooring to improve fuel efficiency. Fiberglass-reinforced composites are used in automotive parts like bumpers, body panels and interiors. Research and development efforts are directed towards creating advanced manufacturing techniques for fiberglass products and boosting market growth.

For instance, on May 15, 2020, American Biltrite introduced the highly anticipated Sonata Elements Luxury Vinyl Tile Collection, a product initially scheduled for unveiling and showcasing at NeoCon 2020. This innovative collection presents the Sonata Elements Luxury Vinyl Tile, measuring 18” x 36”. It seamlessly merges the hygienic advantages synonymous with LVT with a distinctive textured appearance inspired by modular carpet tiles.

Dynamics

Increasing Demand for Durable and Long-Lasting Flooring

Fiberglass flooring has strong durability and resistance and consumers and industries seek flooring solutions that can withstand heavy foot traffic, impacts and environmental stressors, the durability of fiberglass flooring is positioning it as a preferred choice in the fiberglass flooring market.

The longevity of fiberglass flooring contributes to its cost-effectiveness over the long term. With reduced need for replacement and repairs, businesses and homeowners are attracted to this flooring option. This aligns with the demand for flooring solutions market that offers both durability and low maintenance requirements.

Fiberglass flooring consists of a variety of designs and colors, enabling customers to choose flooring that aligns with their aesthetic preferences. This range of options caters to the evolving tastes of consumers and contributes to the flooring's popularity in the market. Technological advancements in manufacturing are leading to the development of innovative fiberglass flooring solutions, making it more appealing to the market.

Rising Demand for Low Maintenance Flooring Options

Modern lifestyles are characterized by time constraints, making low-maintenance flooring options highly appealing to homeowners, businesses and institutions looking to minimize the effort and time spent on cleaning and upkeep. Fiberglass flooring's durability and minimal maintenance needs translate to reduced long-term costs, as it eliminates the frequent need for repairs, replacements and intensive cleaning.

Industries such as hospitality, healthcare, retail and offices benefit significantly from low-maintenance flooring, as it ensures that businesses can focus on their core operations without constant flooring maintenance disruptions. Sectors with stringent cleanliness requirements, like healthcare and food service, find fiberglass flooring attractive due to its resistance to moisture, stains and chemicals, which simplifies sanitation efforts.

The growing demand for low-maintenance flooring solutions positions fiberglass flooring as a favored option, driving market expansion across residential, commercial and industrial sectors. The need for low-maintenance flooring solutions is a global phenomenon, ensuring that the demand for fiberglass flooring transcends regional boundaries.

Rising Demand for Water and Moisture Resistance Flooring Products

Changing consumer preferences are the need for flooring materials that can withstand damp environments including bathrooms, kitchens and basements. This shift in consumer behavior is leading to a surge in the adoption of fiberglass flooring products, as they offer remarkable resistance to water and moisture, ensuring long-lasting durability and aesthetic appeal.

The construction and real estate sectors are witnessing a notable shift toward incorporating materials that enhance the longevity and resilience of structures. As a result, fiberglass flooring is gaining substantial traction within these sectors due to its exceptional performance in high-humidity environments, reducing the risk of structural deterioration over time. This aligns with the overarching market trend of sustainable and long-term investment in construction.

Commercial and industrial sectors are recognizing the value proposition offered by such flooring solutions. Facilities such as hospitals, laboratories and food processing units require flooring that can withstand spills and maintain hygiene standards. Fiberglass flooring is emerging as a go-to choice, further augmenting its market growth. Manufacturers within the fiberglass flooring market are responding to this rising demand.

For instance, in July 2020, Gerflor Flooring introduced a novel addition to its vinyl flooring collection. This innovative product not only offers stylish flooring but also takes a proactive stance against bacteria and viruses by incorporating antiviral properties.

Growing Consumer Awareness of the Benefits of Fiberglass Flooring

Consumers prioritize quality and longevity when choosing flooring solutions. The awareness of fiberglass flooring's exceptional durability and resilience is positioning it as a desirable option in the market for those seeking long-lasting flooring choices. Consumers are increasingly aware that fiberglass flooring offers durability and contributes to its popularity in the market.

Environmental consciousness rises and consumers are seeking sustainable and eco-friendly flooring options. The awareness that fiberglass flooring can be an environmentally responsible choice, particularly in terms of its longevity and potential for reduced replacements, is driving its adoption in the fiberglass flooring market.

The prevalence of social media and online platforms allows consumers to access information about different flooring options, including fiberglass flooring. Online discussions, reviews and information-sharing platforms contribute to raising awareness about the benefits of fiberglass flooring, thus impacting the market positively.

High Cost of Fiberglass Flooring

The expense associated with fiberglass flooring makes it less affordable for a significant portion of potential customers. Cost-sensitive consumers seek more budget-friendly flooring options, the high price of fiberglass flooring can discourage their adoption in the market. Consumers opt for less expensive flooring materials that provide a similar level of functionality, they lack the specific attributes of fiberglass flooring and hinder the fiberglass flooring market growth.

Cost is a crucial factor within the competitive flooring market. The cost of fiberglass flooring exceeds that of alternative materials, it can be challenging to attract customers who prioritize a lower upfront investment and limit the market share. In addition to material costs, the installation of fiberglass flooring requires equipment, contributing to higher overall expenses. This added cost factor can deter potential customers from considering fiberglass flooring in the market.

Limited Authenticity of Fiberglass Flooring

The authenticity of fiberglass flooring is unclear and potential customers are hesitant to invest in a product that they perceive as lacking genuine quality. This uncertainty can impact the market's growth. The limited authenticity of fiberglass flooring deters customers who prioritize the use of natural materials in their living or working spaces, affecting the market demand.

Consumers are skeptical about the authenticity claims made by manufacturers and retailers regarding fiberglass flooring, they seek alternative materials that offer a clearer sense of authenticity and hinder the market's growth. Fiberglass flooring doesn't align with the authenticity preferences of specific markets and design styles, it can limit its acceptance and market demand.

Segment Analysis

The global fiberglass flooring market is segmented based on type, product, application and region.

Residential and Commercial Applications, Cost-Effectiveness and Environmental Considerations

The luxury vinyl tiles (LVT) segment is dominating the global fiberglass flooring market due to its combination of aesthetics, durability and ease of installation. Homeowners, as well as commercial property owners, were opting for LVT due to its ability to mimic the look of natural materials like wood and stone while offering better resistance to moisture and wear.

Luxury vinyl tiles offer a cost-effective alternative to natural materials like hardwood or stone, without compromising on visual appeal. This affordability is contributing to their growing popularity. Some manufacturers are focusing on producing eco-friendly luxury vinyl tiles, considering factors such as recyclability and the use of sustainable materials. This was a response to the increasing demand for environmentally conscious products.

For instance, on May 21, 2020, Interface launched a groundbreaking development. The company's luxury vinyl tile offerings integrate an impressive 39% pre-consumer recycled content. This transformative decision by Interface signifies a substantial extension of recycled content incorporation throughout its diverse product lineup.

Geographical Penetration

Urbanization Growth, Population and Housing Boom and Favorable Manufacturing Conditions

Asia-Pacific region is dominating the global fiberglass flooring market. Asia-Pacific region is growing rapidly in urbanization and increasing construction development. Rising demand for various types of flooring materials, including fiberglass-based products.

The populated countries within Asia-Pacific including China and India, are witnessing substantial growth in residential housing projects. Fiberglass flooring is a preferred choice for these projects. The growth of industries and commercial sectors is driving the demand for high-quality flooring solutions. Fiberglass flooring is popular in industrial and commercial spaces.

Asia-Pacific consists of many manufacturing facilities, including those producing fiberglass-based products. Proximity to production facilities is contributing to the availability and cost-effectiveness of fiberglass flooring options in the region. As sustainability awareness grows, fiberglass flooring is designed to be sustainable and environmentally conscious, driving the market in the region.

COVID-19 Impact Analysis

The pandemic disrupted global supply chains, affecting the availability of raw materials and manufacturing processes. These disruptions led to production delays and shortages in the fiberglass flooring market, impacting its ability to meet market demand. Economic uncertainties caused by the pandemic led to reduced consumer spending and delayed renovation projects.

Economic uncertainties caused by the pandemic led to reduced consumer spending and delayed renovation projects. Consumers postponed home improvement plans, affecting the overall demand for fiberglass flooring in the market. Consumer priorities shifted towards essential needs during the pandemic, which has led to decreased interest in non-essential purchases like flooring.

However, with lockdowns and restrictions in place, consumers turned to home improvement projects. This led to increased demand for durable and long-lasting flooring options like fiberglass flooring. Fiberglass flooring's resistance to moisture and easy-to-clean properties aligned with heightened health and safety concerns during the pandemic. Its ability to be sanitized and maintained played a positive role in its adoption in various market segments.

Flooring manufacturers and retailers who had a solid online presence were better positioned to reach customers. This digital transformation facilitated access to fiberglass flooring, expanding its reach in the market. Homeowners undertaking renovations sought materials that were easy to install and maintain, which has made it an appealing choice for residential projects, contributing to its market demand.

Russia-Ukraine War Impact Analysis

Geopolitical tensions and conflicts can disrupt supply chains, affecting the availability of raw materials, manufacturing processes and transportation routes critical to producing and distributing fiberglass flooring. The conflict can create economic uncertainties that reverberate globally. These uncertainties lead to reduced consumer spending investments in construction and renovation that involve fiberglass flooring, impacting the market's growth.

The conflict can result in trade tensions, tariffs and export-import restrictions between involved countries and their trading partners. These restrictions can hinder the movement of fiberglass flooring across borders and create obstacles to international trade within the fiberglass flooring market.

By Type
• Luxury Vinyl Tiles
• Vinyl Composite Tiles
• Vinyl Sheets
• Hybrid Vinyl Flooring
• Vinyl Planks

By Product
• Glue-Down
• Click-Lock
• Loose-Lay

By Application
• Residential
• Commercial
• Industrial

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In February 2021, Armstrong Flooring Inc. introduced a pair of sophisticated flooring collections: Exchange and Theorem. These two new product lines share a common feature—a 2.5mm arrangement coupled with a 20 mil wear layer. They also incorporate the cutting-edge Diamond 10 Technology, a revolutionary advancement that sets new standards in resisting scuffs and scratches within their category.
• In March 2020, TOLI entered into a joint venture contract with a corporate group of manufacturers in Taiwan and China. This collaboration aimed to manufacture and distribute vinyl floor tiles in China.
• On November 27, 2019, Manning Mills acquired Phenix Flooring, Pharr Fibres and Yarnn from Pharr U.S.A. This strategic acquisition marked Manning Mills' entry into the residential carpet segment, to harness the synergies between these companies to deliver top-quality products that combine cutting-edge technology and aesthetics.

Competitive Landscape

The major global players in the fiberglass flooring market include Interface Inc., TOLI Floor Corporation, IVC Group, Mannington Mills, Shaw Floors, NOX Corporation, Milliken, Armstrong World Industries, Gerflor and Tarkett.

Why Purchase the Report?
• To visualize the global fiberglass flooring market segmentation based on type, properties, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of fiberglass flooring market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global fiberglass flooring market report would provide approximately 61 tables, 59 figures and 186 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies