Global Flooring Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Resilient, Non-Resilient, Softcover), By End-User (Residential, Commercial), And By Geography - Forecasts From 2022 To 2027

Global Flooring Market is anticipated to grow at a CAGR of 4.10% to reach a market size of US$62.578 billion in 2027 from US$47.238 billion in 2020. 

Flooring refers to a floor that is permanently covered or to the process of placing a floor covering. Any finishing material that is put over a floor structure to produce a walking surface is referred to as a floor covering. Along with the cost, quality, and design of flooring, other options depend on the home's design and market value as well as on consumer preferences in the area. Good flooring may increase the value of the house and maybe draw in new clients.

During the projected period, rapid urbanization and an increase in residential and commercial construction activities will propel the expansion of the worldwide flooring market.

Increased Construction activities are expected to propel the growth of the Construction plastic market

The market for flooring is expanding steadily. Rapid urbanization, an increase in commercial and residential buildings, and numerous government rules banning the use of hazardous flooring will all contribute to the expansion. These factors will also encourage innovation, which will further the growth. Additionally, the expansion could be attributed to shifting trends in floor designs as well as a rise in the demand for waterproof flooring.

According to the United States Census Bureau, the country's overall value of construction increased from $1,077,350 million in 2008 to $1,293,982 million in 2018. This demonstrates how the building sector has developed over time and how this has indirectly contributed to the expansion of the flooring market as consumers adopt new floor designs and use a less hazardous floor covering. The persistence of growth will also be facilitated by cheap housing policies, new products, and technological advancements.

By Type

The global flooring market is divided into three types: softcover, non-resilient, and resilient. Because of its high aesthetic value, adaptability to use in a variety of locations, and simplicity of installation of luxury vinyl tiles, resilient flooring commands a sizeable market share.

By End-User

The Global flooring market is divided into residential and commercial by end-users. Due to resilient vinyl flooring's great durability, cost-effectiveness, low maintenance requirements, and suitability for high-traffic applications, the commercial sector accounts for a sizeable portion of the industry. The non-residential segment is expected to account for a total construction value of $747,809 million, as compared to the residential segment's $546,173 million, according to the United States Census Bureau.

By Geography

The flooring market is divided into five geographic regions: North America, South America, the Middle East and Africa, Europe, and Asia Pacific. Due to the rapidly expanding construction industry in South-East Asia's growing economies, the Asia-Pacific region currently occupies a sizeable portion of the global market and is predicted to maintain its dominance over the coming years.

Key Developments:

• May 2021: Three new luxury flooring collections Biome, Terra, and Coalesce were released by Armstrong Flooring, a producer of innovative flooring solutions. Each collection is made in the USA and includes patented Diamond 10 Technology, a 20 mil wear layer, and a 2.5 mm structure for category-leading scratch, scuff, and stain performance. The ranges of 2.5 mm luxury flooring are also created ethically, earning a number of certifications, and are made to be recycled once their useful lives are through. When installed in line with the advised Armstrong Flooring adhesive and instructions, the Biome, Terra, and Coalesce collections come with a 20-year Commercial Limited Warranty.
• June 2022: Mohawk Industries, Inc. announced that it has reached a deal to acquire Grupo Industrial Saltillo's (GIS) Vitromex ceramic tile business for around $293 million in cash. The acquisition is anticipated to be concluded in the second half of 2022. Vitromex was established in 1967 and has four manufacturing plants located in various parts of Mexico. This increased footprint will improve the Company's client base, manufacturing efficiencies, and logistical capabilities when joined with Mohawk's current operations in Mexico.

Product Offerings:

• RevoTile: The installation concerns of traditional tile flooring can be eliminated with RevoTile from Daltile. Without the use of spacer pieces, RevoTile's specially crafted locking core securely fastens each tile to the one next to it while still leaving room for the grout channel. The core, which is laminated to the tile, provides stability, and padding, and reduces echo in the space. The click locks provide uniform alignment during floor installation, preventing any uneven track overlap.
• Terra Luxury Flooring: The strength and raw beauty of real stone served as the basis for Terra. There are two patterns—Palazzo and Craton—that come in 18 × 36-inch tiles. The palazzo style is influenced by terrazzo. A third series, Astana, is offered in an 18-inch x 18-inch format and captures the character and strength of real stone in reinterpreted colors. With its three distinct designs, Terra adds a soft, timeless pattern to any room with a terrazzo-inspired aesthetic in tonal neutrals and complimentary accessories. Craton's raw and recycled appearance was inspired by small aggregate concrete.

Global Flooring Market Scope:

Segmentation

• By Type
  • Resilient
  • Non-resilient
  • Softcover
• By End User
  • Residential
  • Commercial
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global flooring market?
A1. Global Flooring Market was valued at US$47.238 billion in 2020.

Q2. What will be the flooring market size by 2027?
A2. The global flooring market is anticipated to reach a market size of US$62.578 billion by 2027.

Q3. What are the growth prospects for the flooring market?
A3. The flooring market is anticipated to grow at a CAGR of 4.10% over the forecast period.

Q4. What factors are anticipated to drive the flooring market growth?
A4. During the projected period, rapid urbanization and an increase in residential and commercial construction activities will propel the expansion of the global flooring market.

Q5. Which region holds the largest share of the flooring market?
A5. The Asia-Pacific region currently occupies a sizeable portion of the flooring market and is predicted to maintain its dominance over the coming years.