Flooring Market to Experience High Growth by 2024

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Flooring Market Study by Analysis of Leading
Players over 2019 2024

• The flooring market size has, of late, witnessed
  a rapid escalation in the emerging economies
  Asia Pacific being one of the major names in the
  list of growth avenues. The reason behind APAC to
  become the preferred investment destination for
  flooring market giants is quite overt- its
  expanding construction sector.
• The growth of flooring market size is forecast to
  be substantially high in the ensuing years,
  augmented by the expanding construction
  ecosystem. Robust increase in construction
  spending across industrial, commercial, and
  residential sectors has significantly upscaled
  flooring market trends, especially across
  emerging nations.
• As per reliable estimates, global construction
  spending is expected to surpass USD 15 trillion
  by the end of 2024, which clearly portrays the
  lucrative opportunities for the global flooring
  market in the coming years. Smart flooring has
  already become the latest buzzword among the
  infrastructural players, with workplace décor and
  stylish homes claimed to be the ultimate
  reflection of high standards of living.

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• Flooring Market Scenario

• In response to the growing demand for flooring
  materials with blend of style, economic, as well
  as efficiency quotients, flooring market giants
  are coming up with variety of options that not
  only reflects aesthetics in design, but also
  stands as the test of time.
• The increasing demand for rugs and carpets in
  offices and housing complexes has phenomenally
  swayed the product penetration across major
  economies. Endorsed with a unique dust binding
  property and reduced noise effect, soft flooring
  will continue to gain traction through 2024.
• Speaking of the product terrain, non-resilient
  floorings are also gaining momentum lately.
  Non-resilient flooring types include stone,
  laminates, ceramics, and wood. Ceramic tiles are
  one of the most highly preferred tile options on
  account of their cost effectiveness, high
  durability, scratch scratch resistance, lower
  maintenance requirements, and ease in
  installations. Stone floorings on the other hand,
  made out of travertine, sandstone, marble, and
  granite also offer lucrative design options.
• In terms of commercialization, Global Market
  Insights, Inc., estimates flooring industry size
  to exceed a valuation of USD 450 billion by 2024.

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• Regional Analysis

• As per reliable sources, APAC is projected to
  account for over 40 of the global construction
  market by 2020. Besides, extensive developments
  in manufacturing sector along with growing
  population have further propelled flooring
  industry proliferation in this belt. Experts
  claim, China and India to be the two protruding
  regions that would showcase tremendous growth.

• Competitive Analysis

• Worldwide, flooring industry is highly fragmented
  with the presence of a large number of regional
  and local manufacturers. Some of the leading
  names include Tarkett, Shaw Floors, Mannington
  Mills, Beaulieu, Armstrong, Marazzi Group, and
  Mohawk Industries. Driven by the sustainability
  trends that have created an increasing demand for
  ecofriendly floor coverings, these giants are
  heavily investing in innovative solutions that
  are not only stylish in décor but also are
  environmentally viable.

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