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

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

The Non-Resilient Floor Covering Market size is estimated at USD 41.52 billion in 2024, and is expected to reach USD 61.47 billion by 2029, growing at a CAGR of 8.17% during the forecast period (2024-2029).

Covid-19 greatly impacted the market as all the construction and development plans for all building types were stopped. But after the market was opened and all the restrictions were lifted, the non-resilient floor-covering market again gained pace. Non-resilient floor cover products do not flex under pressure. They are made of organic hard surfaces flooring materials, such as ceramic and porcelain tiles, solid and engineered hardwood, laminates, natural stone, slate, and bricks. The market is poised for high growth in the future years due to an upward movement in the new home and commercial construction activities in developing economies. Increased property resale stimulated homeowner remodeling, home improvement projects, and the worldwide rise in residential property prices. The ceramic and stone product suppliers increased their dependence on online retail channels. The technological advancements in mining resulted in reduced prices of natural and manufactured stones, which is, in turn, fuelling the growth of the industry.

Several factors, such as water resistance, ease of cleaning, enhanced comfort, and durability of floors, are also driving the demand for non-resilient flooring products. The ceramic tiles segment is expected to expand rapidly over the forecast period, owing to the various benefits of ceramic tiles.

Non-Resilient Floor Covering Market Trends

Ceramic Tile Segment Drives the Market

Ceramic tiles are extensively used in new residential and home improvement activities. Furthermore, ceramic tiles are used in commercial applications like malls, shopping centers, and work and office spaces. Ceramic flooring is the main driver of the resilient floor covering market. In the Asia-Pacific region, there is an increase in the demand for ceramic flooring products from developed countries, such as the United States, Mexico, China, and Italy. The ability of ceramic flooring products to replicate wood and stone finishes is fueling the demand. The vendors are leveraging the advancements in digital printing technology to provide ceramic tiles with a wide range of design aesthetics.

Asia Pacific is the Fastest Growing Region

The expanding construction sector in the Asia Pacific region drives the market. The region saw supportive government policies and regulations to boost the infrastructure and residential construction market. The country offers opportunities for construction companies, along with various subsidies and exemptions, to help the company establish itself. Furthermore, flooring in the last few years gained popularity in the Asian markets.

Non-Resilient Floor Covering Industry Overview

The report covers major international players operating in the non-resilient floor-covering market. The market is fragmented, with major players capturing a larger market share. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. Major players include China Ceramics Co. Ltd, Mohawk Industries Inc., Kajaria Ceramic, Shaw Industries, Inc., and Dal Tiles.

Additional Benefits:

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