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By 2027, the flooring market will be worth $542.5 billion, with a 5.7% CAGR.

Published: November 21, 2022

Author: TEXTILE VALUE CHAIN

According to a new market research report, the “Flooring Market Type by Material (Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate)), End-use (Residential, Non-residential), and Region – Global Forecast to 2027″, The flooring market size is estimated to grow from USD 339.3 Billion in 2018 to USD 542.5 Billion by 2027, at a CAGR of 5.7%. The market is projected to witness steady growth in the next few years, due to the rise in renovation & remodeling activities resulting from rapid industrialization and urbanization. Increase in investments in the construction industry, rise in population, and growing focus toward interior decoration are also some of the key factors driving the growth of the flooring market.

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146 Market data Tables
36 Figures
176 Pages and in-depth TOC on “Flooring Market – Global Forecast to 2027″

This report also provides a comprehensive analysis of the companies listed below:
Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), Forbo (Switzerland), Gerflor (France), Interface (US), Beaulieu International (Belgium), TOLI Corporation (Japan), and Milliken & Company (US)

Flooring is crucial for the construction industry. It plays a vital role in enhancing the overall atmosphere of a residential or commercial landscape. Foot traffic plays an important role in the selection of the flooring type. For instance, government offices generally demand solid, highly durable floors due to high human traffic, whereas hospitals would require flooring with anti-slippery functionality.

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The vinyl segment is projected to grow at the highest CAGR during the forecast period.
Vinyl is one of the most versatile materials used in flooring. Its resistance to mold, mildew, and moisture makes it one of the most suitable flooring options for application areas where occasional spills and moisture are the major concerns. Its low cost and easy installation also contribute to its growing popularity in a range of residential and commercial applications. LVT (Luxury Vinyl Tile) is one of the popular forms of vinyl flooring and is gaining popularity as a versatile flooring solution, offering durability along with various design options. It offers cost advantages in terms of price as compared to other premium materials, owing to its minimal maintenance requirements and high durability. These factors contribute toward its increasing application in the corporate, hospitality, healthcare, and other commercial sectors.

The Asia Pacific market for flooring is projected to grow at the highest CAGR from 2018 to 2027.
Asia Pacific is projected to be the fastest-growing market for flooring during the forecast period. The growth in the region can be attributed to the growing construction industry, supportive government policies & plans, and rapid urbanization. China is projected to grow at the highest CAGR in the Asia Pacific flooring market during the forecast period. The Middle Eastern & African market is projected to grow at the second highest CAGR between 2018 and 2027.

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