US Flooring

US Flooring

Through 2027, US demand for flooring products is forecast to rise 2.5% per year to 30.6 billion square feet, valued at $54.3 billion. Going forward, market advances will be supported by:

• continuing consumer interest in home improvement projects – such as kitchen and bathroom remodeling – that frequently entail the replacement of older or worn flooring
• heightened end user interest in replacing flooring before the end of its useful life with materials that offer better aesthetic or performance properties, such as luxury vinyl tile (LVT)
• rising commercial building construction, boosting demand for vinyl, ceramic, and carpet tile products

LVT to Become Most Popular Product in US, Ending Carpet’s Decades-Long Dominance

In 2024, LVT is projected to surpass carpeting as the most popular flooring product in the US. Over the last decade, growth in luxury vinyl tile has been explosive; it ranks among the fastest-growing flooring products ever introduced to the US. Volume demand for LVT rose 28% per year from 2012 to 2022, increasing in share from 4% to 31% of the total market. Demand has been, and will continue to be, supported by the product’s favorable performance properties relative to carpet – easy installation, superior aesthetics, and improved durability.

Residential Remodeling Continues to Drive US Flooring Market

The residential remodeling market accounted for 53% of total US flooring demand in 2022, making it the largest market segment of the industry. Although gains will not be as robust as they were during the 2017-2022 period – when home renovation projects surged in 2020 and 2021 as a result of the pandemic – they will be sizable. Demand will continue to be supported by the country’s large stock of older homes, many of which have large expanses of installed carpeting; the owners of many such residences will opt to replace their flooring, and frequently do so with hard surface products. Those that look like wood or natural stone will particularly benefit, as they fit modern design trends.

Rising Motor Vehicle Production Aids Demand for Carpets

Although carpet demand will decline due to a shift away from wall-to-wall tufted carpeting, greater losses will be offset by improving motor vehicle production, which had declined markedly during the pandemic. Motor vehicle production declined in 2020 due to a combination of supply chain issues – most notably a semiconductor shortage – and high interest rates, and has been slow to recover despite healthy consumer demand. With most supply chain issues having either resolved themselves or eased significantly, motor vehicle production is poised to grow at a rate more in line with pre-pandemic periods. As such, demand for needlepunch carpeting – which accounts for most transportation demand – will improve significantly.

Study Description

This Freedonia industry study analyzes the $43 billion US flooring industry. It presents historical demand data (2012, 2017, and 2022) and forecasts (2027 and 2032) by product (resilient, nonresilient, carpets and rugs) and market (residential, nonresidential, transportation. Annual historical data and forecasts are also provided from 2019 to 2026. The study also evaluates company market share and competitive analysis on industry competitors including AHF Products, Shaw, Dixie Group, Engineered Floors, Mannington Mills, Interface, Mohawk Industries, and Tarkett.