Resilient Floor Covering - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Resilient Floor Covering - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Resilient Floor Covering Market size in terms of Greater Than-5.5 is expected to grow from USD 2.43 billion in 2024 to USD 3.17 billion by 2029, at a CAGR of greater than 5.5% during the forecast period (2024-2029).

In the coming years, continued growth is expected in the robust floor-covering market. Due to their durability, ease of maintenance, and extensive design possibilities, in both the private and commercial sectors, resilient floor covering is a preferred option. The growth of the market for resilient floor covering is driven by several factors. Firstly, the construction industry has witnessed significant development, and the demand for wood floors is increasing in particular in the developing economies. Rising urbanization, renovation activities, and the growing preference for aesthetically appealing and low-maintenance flooring options have contributed to market expansion. Regarding regional market trends, North America and Europe have traditionally been the key markets for resilient floor coverings, driven by the high demand for flooring materials in residential and commercial construction projects. However, the Asia-Pacific region, including countries like China and India, has witnessed rapid urbanization and infrastructure development, increasing demand for resilient flooring options.

The resilient floor-covering market is experiencing a surge in demand due to the post-COVID-19 home renovation trend. People are looking for durable and easy-to-maintain flooring options, boosting market growth. The increasing focus on hygiene and cleanliness has also led to the preference for resilient floor coverings. The market is expected to increase further over the next few years.

Resilient Floor Covering Market Trends

Vinyl Flooring Segment is Fuelling the Market

It is expected that the vinyl floor covering segment, which accounts for a large part of the resilient flooring market, will continue to perform better than all other product segments. Even though the residential share is comparatively less than the commercial segment of the market, it is slowly experiencing a solid growth rate, especially the luxury vinyl tiles, which are grabbing more customer attention and are expanding the scope of resilient floor coverings in the residential segment globally. Other factors, such as the development of infrastructures in various sectors, like healthcare, education, and industrial automotive, among others, along with the growth of residential construction and homeowners, fuel the market growth.

Rise in Resilient Floor Covering Market in North America

North America's leading position in the floor-covering market significantly impacts the growth and development of the resilient floor-covering segment. Resilient floor coverings include vinyl, linoleum, rubber, and cork. North America has a large and well-established construction industry, including residential and commercial sectors. The region's robust construction activity drives the demand for floor coverings across various applications, such as homes, offices, healthcare facilities, retail spaces, and educational institutions. This substantial market size provides a strong foundation for the growth of resilient floor coverings. Advanced technologies, such as digital printing and embossing, have allowed for greater design flexibility and realistic replication of natural materials in resilient floor coverings.

Resilient Floor Covering Industry Overview

The resilient floor covering market is fragmented, with many players. The report covers major international players active in this market. Regarding market share, American Biltrite Inc., Tarkett SA, Grupo Lamosa, Congoleum Corporation, and Mohawk Industries Inc. are the main players that have been dominating this market for some time now. Nonetheless, the market presence of small to medium-sized businesses is growing as they secure new contracts and enter new markets with technological advances and innovation in their products.

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• The market estimate (ME) sheet in Excel format
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