Resilient Flooring Industry Overview
The global resilient flooring market size was estimated at USD 38.7 billion in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 7.2% from 2021 to 2028. Increasing investments in the construction sector coupled with rising demand for improvements in aesthetics of the building is anticipated to drive the demand for resilient floorings over the forecast period.
The ongoing COVID-19 outburst across the globe has significantly impacted the supply chains as major economies across the globe suspended and delayed the construction projects. Due to this, demand for resilient flooring products has been reduced in residential and non-residential sectors. However, with the ease of lockdown and global trade restrictions, the situation is expected to recover in 2022, which will restore the growth trajectory of the market.
Gather more insights about the market drivers, restraints and growth of the Global Resilient Flooring market
The COVID-19 pandemic has had a significant impact on resilient flooring retail and distribution. E-commerce sales of resilient flooring products had increased in the first quarter of 2020 as consumers shifted their focus to online retail channels to fulfill their needs. For instance, Lowe's e-commerce sales surged by 80% in the first quarter of 2020.
The market in the U.S. is expected to exhibit growth owing to the commercial availability of resilient products, the development of hassle-free installation techniques, and the rising demand for environmentally sustainable materials. Moreover, innovations in construction solutions with attributes, such as high durability and low maintenance, are anticipated to impact the market favorably.
The high initial investment for the installation of a flooring facility is anticipated to pose an entry barrier for new companies entering the resilient flooring industry. In addition, the volatility in the prices of raw materials including polyvinyl chloride (PVC) on account of the instability in crude oil prices is expected to negatively influence industry growth.
Resilient flooring products are the popular choice in commercial flooring applications on account of their superior properties such as stability, low environmental impact, and easy maintenance. Increasing construction spending for industrial development across the globe is expected to augment market growth over the forecast period.
The development of eco-friendly flooring solutions like linoleum, hardwood, and bamboo for the betterment of the environment is expected to fuel industry growth. Also, technological trend such as the production of waterproof floorings like wood plastic composite (WPC) with high aesthetic value is expected to witness high growth over the projected period.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
Micro and Mechanized Irrigation Systems Market - The global micro and mechanized irrigation systems market size to be valued at USD 33.4 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 16.3% during the forecast period.
Aerospace And Defense MRO Market - The global aerospace and defense MRO market was valued at USD 116.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.
Resilient Flooring Market Segmentation
Grand View Research has segmented the global resilient flooring market on the basis of product, application, and region:
Resilient Flooring Product Outlook (Volume, Million Sq. Meters; Revenue, USD Billion, 2017 - 2028)
- Luxury Vinyl Tiles
- Vinyl Sheet & Floor Tile
- Linoleum
- Cork
- Rubber
Resilient Flooring Application Outlook (Volume, Million Sq. Meters; Revenue, USD Billion, 2017 - 2028)
- Residential
- Non-residential
Resilient Flooring Regional Outlook (Volume, Million Sq. Meters; Revenue, USD Billion, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America (CSA)
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Resilient Flooring market include
- Beaulieu International Group
- Mohawk Industries, Inc.
- Shaw Industries Group, Inc.
- Gerflor
- Forbo Flooring Systems
- Fatra a.s.
- Interface, Inc.
- Tarkett S.A.
- IVC Group
- Mondo S.p.A
Order a free sample PDF of the Resilient Flooring Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment