Flooring is used for the temporary or permanent floor covering with a variety of raw materials including vinyl sheets, ceramics, polyester, rubber, woo, and stones which provides with the walking surface. The choice of material for floor covering is pretentious by factors such as cost, durability, noise insulation, comfort, and cleaning effort.
Flooring Market: Key Players
The research study includes profiles of leading companies operating in the global Flooring market. Key players profiled in the report include: Amtico, Armstrong Floor, Congoleum, Forbo, Gerflor, Interface Inc, IVC Group, Mannington Mills Inc, Mohawk Industries, and Polyfor Ltd.
Armstrong Floors Company introduced new Luxe Plank Rigid Core Technology, Striation BBT a bio-based product, and Performance Plus a more durable wood innovation to increase its segment revenue.
Drivers for the Global Flooring Market:
Rising population and rapid urbanization across the globe are the major factors responsible for the growth of flooring market. Additionally, increasing craze for home decor in building interiors to improve the aesthetics enhances the demand of flooring, expanding the market. Renovation and home remodeling activities are also increasing across countries which propel growth of flooring market. Further, increase in construction industry also boosts flooring market.
Opportunities for the Global Flooring Market:
Development of innovative flooring designs & materials by several manufacturers can create productive opportunities for flooring market, as it enhances its demand. Reduction in home improvement cost and presence of technological advancement further propels growth of flooring market during the forecast period. Rise in internal migration and increasing count of emigrants accompanied by growing private construction investments will boost product demand in coming years.
Restrains for the Global Flooring Market:
COVID-19 (Coronavirus) pandemic has affected the flooring market largely due to the shutting down of manufacturing units globally. This can majorly hamper the growth of flooring market. Many commercial organizations got closed and economy has been hampered greatly all over the world. This can majorly hinder the growth of flooring market in coming years.
Region Wise, Global Flooring Market Analysis:
Asia Pacific dominates the global flooring market owing to increasing population and urbanization in countries like India and China. Additionally, real estate industry in this region is expanding rapidly due to shift in government focus toward infrastructure development. Beneficial regulations thus, make the region highly attractive for the flooring market. Europe is likely to propel growth in flooring market during the forecast period due to increasing construction industry. It can be followed by North America. The flooring market in Middle East & Africa is expected to expand at a rapid pace during the forecast period, owing to increasing demand for flooring from several large-sized construction projects.
Covid-19: Impact and Recovery Analysis for Global Flooring Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like flooring market globally. Most of the companies are working on manufacturing flooring equipment that is cost effective & also provide materials like disposable floor plastic, silicon sheets that can be sanitized easily and other protective flooring equipment that can prevent the spread of the virus to a certain point.
Global Flooring Market: Product analysis
- Soft Coverings
- Resilient Flooring
- Non-Resilient Flooring
- Seamless Flooring
Global Flooring Market: Application analysis
Global Flooring Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East