Title: Flooring Market in Soft coverings product segment to cross $150bn by 2022
1Flooring Market Global Industry Analysis
Report, Share, Size, Growth, Price Trends and
Forecast, 2016 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
2 Key Insights of Flooring Market
- Innovations in the construction industry,
increasing urbanization, and the changing
consumer lifestyle coupled with the rising demand
for insulation is predicted to boost the flooring
market growth over the coming years. Development
of hassle-free installation techniques along with
enhanced use of cost-effective, aesthetically
pleasing, durable, and ecofriendly flooring
products by consumers are expected to fuel the
industry trends. In addition to this, the
increase in the number of home renovation
projects is anticipated to be a key market driver
over the coming years. As per Global Market
Insights Inc., global flooring market size is
predicted to exceed USD 400 billion by 2022,
growing at a CAGR of 6.8 over the period of
2015-2022. - Flooring solutions are used in commercial,
industrial, and residential applications.
Residential sector is estimated to be dominant
over the coming years with revenue estimation of
USD 220 billion by 2022. Heavy demand from the
construction industry coupled with growing number
of home renovation projects is likely to spur the
flooring market share in the residential sector.
3 Continued
- Flooring demand in commercial sector is projected
to witness a CAGR of 6.5 over 2015-2022.
Furthermore, flooring in industrial applications
worth USD 12 billion in 2014, is estimated to
exceed USD 20 billion by 2022. Amongst the
various kinds of floorings available in global
industry, resilient flooring market worth USD 60
billion in 2014, is expected to be a rapidly
growing product segment with a CAGR estimation of
7.5 over the period of 2015-2022. The fast
growth of this segment can be attributed to the
factors like cost-effectiveness, waterproofing
property, durability, and low maintenance cost. - The soft coverings flooring market worth USD 90
billion in 2014 was the largest revenue
contributor and is forecast to touch USD 150
billion mark by 2022. Its growth can be credited
to its dust-binding properties and noise-reducing
effects. These products act as the best
insulators, offering comfort and pleasing
aesthetics to the end-users. The non-resilient
flooring market contributed over 30 of the
overall industry share in 2014. -
4China flooring market size by product, 2012-2022
(USD Billion)
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6 Continued.
- The Asia Pacific flooring market size worth USD
100 billion in 2015 dominated the industry growth
and is estimated to touch USD 180 billion mark by
2022. Factors such as growing industrialization,
consumer lifestyle changes, new key
developments in real-estate industry, expanding
construction industry, and improvement in
infrastructure facilities are few of the factors
projected to contribute towards the regional
growth. India and China are predicted to be the
major revenue pockets. - The North America flooring market share worth USD
40 billion in 2014, is expected to reach USD 69
billion mark by 2022 owing to the recovery in the
housing industry which has the positive impact on
the regional growth. -
- Key industry participants include Shaw
Industries, Pergo, Armstrong World Industries,
Polyfor Ltd, Mohawk Industries, Congoleum
Corporation, Beaulieu Flooring America, and
Mannington Mills Inc.
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