Opportunities for the global flooring market to reach $250.8 billion by 2024

According to a new market report published by Lucintel, the future of the global flooring market looks promising with opportunities in the residential and non-residential sectors. The global flooring market is expected to reach an estimated $250.8 billion by 2024 with a CAGR of 4.6% from 2019 to 2024. The major drivers for this market are increasing residential construction and growth in renovation and remodeling activities.

In this market, carpet and rug, resilient, and non-resilient flooring are used in the building and construction industry. On the basis of comprehensive research, Lucintel forecasts that non-resilient flooring will remain the largest segment over the forecast period due to increasing demand for ceramic tiles in developing region. Lucintel predicts that resilient flooring is expected to witness the highest growth over the forecast period due to its minimal maintenance requirements and high durability.

Within the global flooring market, residential will remain the largest end use market over the forecast period due to growth in single and multi-family buildings. Non-residential flooring is expected to witness the highest growth during the forecast period due to increasing construction of office, retail and other commercial buildings.

Asia Pacific is expected to remain the largest region; it is also expected to witness the highest growth over the forecast period supported by increasing urbanization and building construction activities.

Emerging trends, which have a direct impact on the dynamics of the market, include increasing demand for loose lay flooring and the introduction of aqua+ technology in laminate flooring. Mohawk industries, Shaw industries, Tarkett, Beaulieu International, Dixie Group Inc., Forbo Holding, Interface Incorporation, Armstrong Flooring, and Gerflor are among the major manufacturers of flooring market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global flooring market by end use, flooring type and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Flooring Market 2019-2024.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global flooring market by end use, flooring type, and region, as follows:

By End Use [Value ($ Billion) from 2013 to 2024]:

·      Residential

·      Non Residential

−     Healthcare

−     Education

−     Hospitality

−     Retail

−     Office

−     Others

By Flooring Type [Value ($ Billion) and Volume (Billion Square Feet) from 2013 to 2024]:

·      Carpet and Rug

·      Resilient Flooring

–     Vinyl and Others

·      Non-Resilient Flooring

–     Ceramic Tiles

–     Wood and Laminate

By Region [Value ($ Billion) and Volume (Billion Square Feet) from 2013 to 2024]:

·      North America

·      Europe

·      APAC

·      ROW

This 185 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or   helpdesk@lucintel.com. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report addresses the following key questions:

Q. 1. What are some of the most promising, high-growth opportunities for the global flooring market by end use (residential, healthcare, education, hospitality, retail, office, others). Flooring type (Carpets and rugs, resilient flooring, and non-resilient),) and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2. Which product segment will grow at a faster pace and why?

Q. 3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market and which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?

Q. 11. What M&A activity has occurred in the last 5 years?