Brazil Floor Covering - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Brazil Floor Covering - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Brazil Floor Covering Market is projected to reach USD 69.35 Million in the current year and is poised to achieve a CAGR of 14% for the forecast period.

COVID-19 has an impact on the floor covering market in the Brazil, as it did on all other markets. This impact was mostly due to significant interruptions in raw material transportation as well as a temporary shutdown of the manufacturing industry and end-use sectors, resulting in a drop in demand and sales for floor covering products and materials during the period. Due to the lockdown, many construction projects where suspended, while others postponed. Due to the pandemic outbreak, offices, restaurants, and hotels were closed, leading to a negative impact on the Brazil floor covering market.

Brazil is the most prominent market in Latin America for the production of floor cover and ceramic tiles. The Brazilian coatings industry has its roots in brick and block factories, and has grown with the production of floors and tiles. New companies have entered the market, providing consumers with more options and improving the quality of coatings and renovations. The country is renowned for its floor covering production and consumption, and is one of the biggest producers and consumers of ceramic tiles and a leader in the Latin American region. The floor covering market in Brazil is undergoing rapid transformation and is a leader in international markets, with the ceramic sector projected to expand by more than 820 million square meters.

Rise in the construction projects in residential and commerical sector is driving the market growth. Urbanization, population growth, industrialization, and disposable income are driving the floor covering market in Brazil.The demand for floor covering is seen increasing as it is required to outfit the workplace and residence area. Also increasing demand for insulation is also expected to boost market growth over the forecast period. An increase in office improvement is witnessed as companies are redecorating office areas to include modular systems furniture.

Brazil Floor Covering Market Trends

The Increasing Population in Brazil is Driving the Flooring Covering Market

The floor covering market in Brazil is expected to grow due to a large number of consumers who are looking for quality products. The growth of the population and the increase of nuclear families will lead to the growth of the floor covering market over the forecasted period. The urbanization and growth of the urban population, as well as the industrialization and consumer's disposable income, have contributed to the healthy development of the market. The rising demand of floor coverings in Brazil due to an increase of the population has led to the need to upgrade the standard of living to higher capacities. Therefore, the demand of flooring products is increasing. Floor coverings, such as vinyl floor coverings, laminate floor coverings, wood floor coverings, and tiles floor coverings are needed for many places such as living rooms, bedroom, kitchen, and bathrooms in new home projects or restorations in the metropolitan areas. Commercial activities are concentrated in the urban areas. Therefore, the flooring market in Brazil will grow in the near future.

Rise in Residential and Commercial Construction is Driving the Market

As residential and commercial construction, remodeling and renovation operations increase, floor covering product demand is predicted to rise. Many people currently use renovation and remodeling processes for interior design and modifying the look and structure of buildings. Demand for remodeling and renovation will rise as consumer expenditure on interior design rises. The usage of these products for remodeling and reconstruction is growing due to their long-lasting and cost-effective qualities that keep structures up to date. Brazil's tourist business has expanded significantly, which has increased the number of projects for commercial building in the hotel industry. Brazilian renowned tourist locations are being constructed with hotels, resorts, and other lodging options in mind for both local and foreign visitors. For example, the Fasano at Itaim Bibi, in São Paulo, Anantara Mamucabo Bahia Resort which is set to open in 2025. In addition, greater government expenditure to enhance public leisure facilities, hospitals, schools, and transportation networks will fuel demand for these items. For instance, the Brazilian government plans to invest R$278 billion in popular housing and urbanization works by 2025. This amount will allow the contracting of up to 2.5 million housing units with very reduced interest rates, allowing vulnerable populations to finally own their homes. As a consequence, these factors will help drive market growth over the projection period.

Brazil Floor Covering Industry Overview

The report covers major international players operating in the Brazil floor covering market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support