Flooring Market Is Estimated To Reach USD 343.6 Billion By 2024

Global Flooring Market: Key Highlights

According to the new market research report “Flooring Market by Type (iles Flooring, Wood and Laminate Flooring, Mosaic Flooring, Stone Flooring, Carpet Flooring, Others), by Application (Residential, Commercial, Industrial, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2019 to 2024)”, the global flooring market is estimated to reach USD 343.6 Billion by 2024 at a CAGR of around 5.2% during the review period.
Flooring is considered as an important part of infrastructure and it can be termed as the covering over the floor, which provides cleaner, smoother, and durable surface
Availability of different types of flooring materials coupled with provision of customization for designs, colors and dimensions provides customers with wide range of options which may boost the demand for flooring market
Common flooring materials are vinyl sheet & tiles, carpets & rugs, laminates, natural stone, wood, ceramic tiles, and rubber

Flooring Market

Global Flooring Market: Key Market Dynamics

Growing construction activities owing to rising industrialization, urbanization and ongoing infrastructure projects has expected to drive the demand for flooring market during forecasted period
Emergence of new materials for flooring which emits low VOC (Volatile Organic Compound) is expected to pose new opportunities for the product market
Fluctuation in raw material prices and volatility in its availability may hinder the growth of flooring market

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Global Flooring Market: Regional Overview

North America

The flooring market in the North America region is projected to witness high demand due to the higher renovation activities and new infrastructure building. This has attributed by the growing construction activities coupled with rising demand for sustainable and advanced construction practices are anticipated to drive the product demand. According to U.S. Census Bureau, the total spending on construction activities was USD 1,356,409 million in 2019.

Asia-Pacific

Asia-Pacific region is expected to dominate the flooring market during the forecasted period owing to the ongoing construction activities coupled with rising infrastructure activities, urbanization and industrialization. For instance, China has approved 26 infrastructure projects with a total expected investment of USD 142 billion in 2019.

Global Flooring Market: Key Players Overview

Mohawk Group

Mohawk Group is one of the largest floors covering manufacture and is commercial flooring division of Mohawk industries. The company operates through carpets, rugs, ceramic tiles, wood, laminate, stone, and resilient flooring business segments. In June 2018, the group launched a new product called Pivot Point Red List-free which will enhance resilient tile (ERT).

Tarkett S.A.:

Tarkett S.A. has operated through 33 industrial sites and 25 research laboratories. The company has wide product portfolio namely Vinyl, Laminate, wood, tracks, carpets, artificial truf, rubber & accessories, and linoleum. In January 2018, the company expended it its luxury vinyl tiles production capacity in North America and Europe. This will help to increase the production capacity in the region.

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