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

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

The Japan Floor Covering Market size is estimated at USD 189 million in 2024, and is expected to reach USD 241.19 million by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The market for floor covering is transforming in Japan, with the rising requirements for esthetic interiors in both the residential and commercial segments. The steadily performing construction sector in the country is helping the market to grow in a standard manner. The market is projected to record even more revenues in the future, coupled with the diversifying portfolios offered by most players. The floor covering customizable materials are gaining more significance. The residential customers are looking for customization in the colors and designs. In contrast, the scope for customization in dimensions, along with the colors and designs, is gaining more momentum in the commercial segment of the market. The focus of market players on the vast distribution network is helping them and the products to reach significant construction projects domestically and internationally. Furthermore, it has been supporting the growth for the past few years. The growing redevelopments and new construction projects will help the market to grow at a faster pace.

The present scenario of the Japan floor covering market post-COVID shows signs of recovery and growth. With the easing of restrictions and resumption of construction activities, there is an increasing demand for base covering as people spend more time at home and invest in home improvement projects.

Japan Floor Covering Market Trends

Increase in Demand for Private Households is Driving the Market

Growth in the housing market, such as an increase in new home construction or renovation activities, can drive the demand for floor coverings. As more private households are established, or existing ones undergo renovations, the need for flooring materials also rises. Shifts in lifestyle patterns can impact consumer preferences for floor coverings. There has been a growing interest in interior design, home aesthetics, and creating comfortable living spaces in Japan in recent years. As individuals seek to personalize their homes, there may be an increased demand for floor coverings that align with their style preferences.

Japan has an aging population, and older individuals often prioritize safety and accessibility in their homes. This demographic may drive the demand for floor coverings that are slip-resistant, easy to clean, and provide comfort underfoot. Urban areas in Japan tend to have higher population densities and smaller living spaces. As a result, there is a demand for space-saving and multifunctional solutions. This may influence the choice of floor coverings, such as modular flooring systems or innovative designs that maximize the utility of limited living spaces.

Redevelopment Projects in Tokyo are Contributing a Major Share to the Market

There has been a lot of construction activity in Tokyo in the past few years, which is not limited to new constructions, as there are several redevelopments and renovation projects. Redevelopment projects in Tokyo have significantly impacted the floor-covering market in Japan. As a vibrant and populous city, Tokyo experiences a continuous need for urban renewal and redevelopment. Redevelopment projects in Tokyo involve constructing or renovating residential, commercial, and mixed-use buildings. These projects surge demand for floor coverings as new spaces require flooring installations. The larger the scale of the redevelopment project, the greater the demand for floor coverings.

Redevelopment projects often prioritize modern and innovative flooring solutions to meet the evolving preferences of residents and businesses. Developers and architects opt for contemporary options such as vinyl flooring, laminate flooring, and carpet tiles that offer durability, versatility, and aesthetic appeal. Redevelopment projects provide opportunities for customization and design flexibility in floor coverings. Developers and property owners can choose from a wide range of flooring materials, colors, patterns, and textures to match the overall design concept and meet the project's specific requirements.

Japan Floor Covering Industry Overview

The report covers prominent players operating in the floor covering the market in Japan, along with their product portfolio, key financials, and developments. The market is transforming with many technological advancements through product innovation. Major players are focusing on different strategies to expand their footprint and mergers and acquisitions, helping them enhance their product portfolio while extending their geographical presence worldwide. Some key players operating in the market are TOLI Corporation, Sincol Co Ltd, TOYOTEX, DAIKEN Corporation, and Hisamatsu Seito Co Ltd, among others.

Additional Benefits:

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