Future Market Insights has released a new market research study on the textile flooring market, which contains worldwide industry analysis for 2014–2018 and opportunity evaluation for 2019–2029.
Future Market Insights has released a new market research study on the textile flooring market, which contains worldwide industry analysis for 2014–2018 and opportunity evaluation for 2019–2029. The study examines the textile flooring industry and provides relevant data for the 2019-2029 projection period. According to the report’s conclusion, the global textile flooring market is expected to rise significantly during the forecast period. Rising consumer confidence, rising disposable incomes, and increased demand for luxury flooring options as a result of the developing residential and commercial sectors are all projected to contribute to the textile flooring market’s expansion in the coming years.
The global textile flooring market was valued at US$ 150 Bn in 2018, and is projected to register robust growth of 6% during the period 2019 – 2029. The textile industry in the Asia Pacific region has registered substantial growth in the last few years, owing to rising demand from various end-use industries. Along with this, competitive price performance ratio compared to other materials is also boosting the market growth. Growth of textile flooring based on tufting technology is mainly attributed to the fact that it is the most commonly accepted technology by manufacturers. In addition, rising use of synthetic textiles in the residential sector is likely to result in increased market share over the forecast period. The global market for textile floorings is fragmented with the top 10 players holding a 35%-40% share in the overall market.