South and Central America 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 South and Central America indoor flooring market is expected to grow from US$ 9.58 billion in 2021 to US$ 11.63 billion by 2028; it is estimated to grow at a CAGR of 2.8% from 2021 to 2028. Floor coating systems used in indoor and outdoor sports arenas need the right combination of properties such as excellent point elasticity, skid resistance, surface elasticity, and rebound properties. They should also be highly durable while displaying excellent optical characteristics and compatibility with commonly used coloring materials and additives. High-performance polyurethane floor coatings impart excellent elasticity and good grip to surfaces while allowing players to be agile and move skillfully on the court, which makes it a preferred material for coating floors in indoor sports halls; tennis, volleyball, and basketball courts; and wrestling and gymnastic halls. The rising expenditure by government and private construction companies in building sports complexes and arenas has led to the development of numerous sports facilities in urban and suburban areas, which are likely to generate a high demand for specialized high-performance indoor flooring materials in the coming years.
The South and Central America indoor flooring market is segmented into type, end user, and country. Based on type, the South and Central America 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.
In SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to directly impact the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The sharp decline in the flooring industries' sales due to lockdown measures is expected to directly impact the growth of the South and Central America indoor flooring market. Moreover, the decline in business activities and product sales is expected to directly affect the growth rate of the market till mid-2021.
The overall South and Central America 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 South and Central America 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 South and Central America indoor flooring market. Some of the activities undertaken by the companies, which have promoted market growth, are mergers and acquisitions. The companies include Forbo International SA; Beaulieu International Group; Interface, Inc.; Toli Corporation; Mohawk Industries, Inc.; and Shaw Industries Group, Inc.
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