Flooring Market Size, Share, Growth, and Industry Analysis, By Grade (Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate)), By Application (Residential and Non-residential), Regional Insights, and Forecast To 2032

Updated On: 15 April 2024

Flooring Market Report Overview

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global flooring market size was USD 329250 million in 2022 and market is projected to touch USD 431230 million by 2028 at CAGR 4.6% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the flooring market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Flooring is the permanent covering of a floor, or for the work of installing such a floor covering. Floor covering is a term to generically describe any finish material applied over a floor structure to provide a walking surface. Both terms are used interchangeably but floor covering refers more to loose-laid materials. Materials almost always classified as flooring include carpet, laminate, tile, and vinyl.

Hard flooring (not to be confused with "hardwood") is a family of flooring materials that includes concrete or cement, ceramic tile, glass tiles, and natural stone products. Ceramic tiles are clay products which are formed into thin tiles and fired. Ceramic tiles are set in beds of mortar or mastic with the joints between tiles grouted. Varieties of ceramic tiles include quarry tile, porcelain, terracotta.

COVID-19 Impact: Pandemic Decreased the Market Demand

The COVID-19 pandemic has had a significant impact on the flooring market share. The lockdown measures implemented by governments around the world led to a decline in construction activities. This was due to the fact that many construction workers were unable to work due to travel restrictions and social distancing measures. As a result, there was a decrease in the demand for these products, as these products are typically used in new construction projects. The COVID-19 pandemic also led to a shift in consumer preferences. Many consumers were hesitant to make large purchases, such as this, during the pandemic. This was due to the uncertainty of the economic situation and the fear of job losses. As a result, the demand for them declined. The COVID-19 pandemic also caused supply chain disruptions. This was due to the fact that many factories and warehouses were closed due to the pandemic. As a result, it was difficult for manufacturers to get the materials they needed to produce their products. This led to delays in shipments and shortages of these products. The COVID-19 pandemic also led to an increase in prices for these products.

Latest Trends

"Growing popularity of laminate flooring is expected to fuel the growth in the market"

Laminate flooring is a type of flooring that is made from a composite material that resembles wood. It is made up of several layers, including a decorative layer, a wear layer, a core layer, and a backing layer. The decorative layer is what gives the laminate flooring its appearance. It is typically made from a photorealistic image of wood, stone, or tile. The wear layer is the top layer of the laminate flooring. It is made from a durable material, such as acrylic or melamine, which protects the decorative layer from scratches and dents. The core layer is the middle layer of the laminate flooring. It is made from a material that provides strength and stability to the laminate flooring. The backing layer is the bottom layer of the laminate flooring. It is made from a moisture-resistant material that helps to prevent the laminate flooring from swelling or warping. The growing popularity of laminate flooring is attributed to its modern appearance and variety of styles.

Flooring Market Segmentation

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• By Grade Analysis

According to type, the market can be segmented into Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate).

• By Application Analysis

Based on age, the market can be divided into Residential and Non-residential.

Driving Factors

"Increasing demand for renovation and remodeling activities to foster the market growth"

The demand for renovation and remodeling activities is increasing due to a number of factors. The average age of the housing stock in many countries is increasing. This means that there is a growing need to renovate and remodel older homes to improve their condition and make them more energy-efficient. People are living in smaller homes and are looking for ways to make their homes more functional and stylish. This is driving the demand for renovation and remodeling projects, such as open-concept kitchens and bathrooms. More and more people are undertaking renovation and remodeling projects themselves. This is due to the availability of online resources and DIY stores, as well as the increasing popularity of home improvement TV shows. The increasing demand for renovation and remodeling activities is driving the demand for these products. This is because it is a key component of any renovation or remodeling project. It can be used to update the look and feel of a space, improve its functionality, and increase its value.

"Rising disposable income in developing countries to result in the expansion of the market"

The disposable income in developing countries is rising due to factors such as economic growth, urbanization, and industrialization. This is leading to an increase in the demand for consumer goods, including these products. In developing countries, people are increasingly looking to improve their living standards. This includes upgrading their homes with new products. It is seen as a way to improve the appearance and comfort of a home, as well as to increase its value. The rising disposable income in developing countries is creating new opportunities for manufacturers. These manufacturers are expanding their operations in developing countries to meet the growing demand for them.

Restraining Factors

"Competition from online retailers to hamper the market growth"

Online retailers are offering them at lower prices than traditional brick-and-mortar retailers. This is making it difficult for traditional retailers to compete and could lead to a decline in the demand for them from traditional retailers.

Flooring Market Regional Insights

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"Asia Pacific to lead the market owing to rapid urbanization. "

The Asia Pacific region has shown the highest flooring market growth. The Asia-Pacific region is urbanizing at a rapid pace. This is leading to an increase in the demand for them, as people move into urban areas and need to furnish their new homes. The disposable income in the Asia-Pacific region is rising. This is leading to an increase in the demand for consumer goods, including them.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Mohawk Industries (US)
• Shaw Industries (US)
• Tarkett (France)
• Armstrong Flooring (US)
• Forbo (Switzerland)
• Gerflor (France)
• Interface (US)
• Beaulieu International (Belgium)
• TOLI Corporation (Japan)
• Milliken & Company (US)

Report Coverage

This report examines an understanding of the flooring market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.