Europe Indoor Flooring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Ceramic Tiles, Carpet, Vinyl Linoleum and Rubber, Wood and Laminate, and Others); End-user (Residential, and Non-Residential)

Europe Indoor Flooring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Ceramic Tiles, Carpet, Vinyl Linoleum and Rubber, Wood and Laminate, and Others); End-user (Residential, and Non-Residential)

The Europe indoor flooring market is expected to grow from US$ 33.14 billion in 2021 to US$ 44.74 billion by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. R&D facilities, laboratories, biotechnology labs, and clean rooms, which are among high-capital ventures, might face severe consequences of downtime caused by flooring or floor coating. In such cases, fast-cure floor coatings are used to avoid downtime or keep it to a minimum. The recently developed carpet, vinyl, linoleum, and rubber coatings are being applied on the interior as well as exterior surfaces. With ever-increasing time pressure on contractors to return the floor to service as early as possible, the development of fast-cure floor coatings is emerging as a boon for building contractors and personnel involved in indoor flooring applications. The use of fast-cure indoor flooring systems can also help contractors save on labor costs due to the quick application in the confined time frame. Further, the short curing time is associated with minimizing labor hours.

The Europe indoor flooring market is segmented into type, end user, and country. Based on type, the Europe indoor flooring market is segmented into ceramic tiles, carpet, vinyl linoleum & rubber, wood & laminate, and others. In 2021, the carpet segment accounted for the largest market share. The growth of these segments is attributed to extensively use flooring decor. However, the vinyl linoleum & rubber segment is estimated to register the highest CAGR during the forecast period.

Due to the COVID-19 outbreak, Russia, the UK, France, Italy, Spain, and Germany are some of the worst-affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and 2021. According to world meter till 24th March 2021 there were 2,732,130, 4,319,128, 4,424,087, cases have been registered in Germany, UK, and France. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of COVID-19 among its citizens. European countries represent a major market for indoor flooring adoption due to the good wages of people. Since several European countries are in the phase of lockdowns, the installation of indoor floors got hampered. COVID-19 first manifested itself in Europe as a “supply-side” shock, as Chinese producers cut their exports dramatically. China is the world's largest provider of capital products, responsible for a considerable portion of Europe's car industry electronics imports as well as the bulk of primary elements of the clean energy industry, such as photovoltaic panels. This impact is expected to continue in the coming weeks, undermining Greenfield development programmers in the works, and will escalate through many European countries as non-strategic businesses are shut down. This business climate, in our opinion, may bring uncertainty, but it may also bring rewards, such as new investments entering the market, an ability to produce alpha, or potentially higher entry rates in a market that has seen a rise in average valuations in the recent past, as has been the case with other asset groups.

The overall Europe indoor flooring market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe indoor flooring market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe indoor flooring market . Some of the activities undertaken by the companies, which have promoted market growth, are mergers and acquisitions and market initiatives. The companies include Forbo International SA; Tarkett; Beaulieu International Group; Interface, Inc.; Toli Corporation; Mohawk Industries, Inc.; and Shaw Industries Group, Inc.

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