The global flooring market size was valued at USD 331.9 billion in 2023 and is projected to reach USD 510.7 billion by 2028, growing at 9.0% cagr from 2023 to 2028. The study delivers a clear overview of market size, revenue trends, and key growth factors shaping the global landscape. This research analyzes major flooring market drivers, restraints, challenges, and emerging opportunities, while highlighting innovation trends and financial insights influencing competitive strategies. Increasing population and rapid urbanization, increasing investments in the construction sector, and rising number of renovation and remodeling activities are key drivers promoting the market growth. The volatile raw material prices is a major restraint in the flooring market as it affects the overall pricing of the product. A rapidly progressing organized retail sector is a major opportunity in the flooring market. The flooring industry also faces the challenge of extreme competition in the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110789434
Flooring Market Dynamics
-
Driver: Rising population, rapid urbanization, and increased investment in residential and infrastructure construction are key drivers of the flooring market. Growing housing demand and large-scale urban projects such as roads, airports, and public spaces continue to boost the need for diverse flooring solutions.
-
Restraint: Fluctuating raw material prices remain a major restraint, as volatility in wood, vinyl, ceramics, resins, and fibers directly impacts production costs, product pricing, and overall market competitiveness.
-
Opportunities: Emerging economies present strong growth opportunities due to fast-paced urban development, expanding middle-class populations, infrastructure expansion, renovation activities, and growth in tourism and hospitality sectors.
-
Challenges: Waste disposal from flooring installation, renovation, and demolition poses challenges, as managing large volumes of waste and hazardous materials increases costs and requires strict regulatory compliance.
By material, non-resilient segment accounted for the largest share in 2022
Resilient flooring possesses a specific characteristic i.e., when given a slight press on it, it quickly springs back into place. This provides greater grip, and a decreased chance of slip-and-fall incidents. The term non-resilient flooring refers to solid flooring which is not flexible. Terrazzo, marble, stone, ceramic tile, and concrete all fall under the category of non-resilient flooring. In general, non-resilient flooring can outlive resilient flooring and are more durable. In areas with heavy foot traffic, non-resilient flooring is frequently used by architects and designers. In general, non-resilient floors require less upkeep and maintenance than resilient ones. Owing to these properties the non -resilient segment dominated the market.
Get a Sample Copy of This Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=110789434
By End-Use Industry, the Non-Residential Segment accounted for the second largest share in 2022.
In the non-residential end use industry segment the demand for flooring is expected to be driven by increasing spending on office spaces and other commercial & institutional constructions where flooring is used extensively. These buildings can be classified as commercial, institutional & healthcare, and public facilities. The commercial and institutional spaces like malls, hospitals, colleges, schools, gyms are subjected to heavy foot traffic and heavy furniture loads. Hnece the flooring durability and aesthetic aspect both are important factors when choosing a suitable flooring material.
Europe accounted for the second largest market share of the Flooring Market in 2022
The rising demand of housing in urban areas, increased infrastructure development activities, and increased modernization and renovation of buildings are the major key factors for the expansion of the European construction market. With the region’s robust economic growth, commercial infrastructure construction, such as offices, schools, hotels, restaurants, and leisure facilities, is on the rise. Initiatives and investments by the government are aiding the growth of the European infrastructure.
The Flooring Market comprises major players such as Mohawk Industries, Inc. (US), Tarkett (France), Forbo (Switzerland), Shaw Industries Group Inc. (Georgia), Interface, Inc. (US), and others are covered in the Flooring market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Flooring Market.
Mohawk Industries, Inc. engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment manufactures ceramic, porcelain, and natural stone tile products used for wall and floor applications.
Tarkett is among the leading flooring companies that offer a wide range of flooring solutions to commercial and residential end users. For 140 years, dedication to excellence, innovation, coupled with a long lasting commitment to sustainability, have contributed to the leading position of Tarkett in sports surfaces and cutting-edge flooring solutions. The company has a wide presence across all regions such as North America, South America, Europe, Asia Pacific, and the Middle East & Africa, with 34 industrial sites across the world.
Forbo is a global manufacturer and trader of floorings, adhesives, and conveyor technology. The company has two business segments i.e., Flooring Systems and Movement Systems. The Flooring Systems division includes commercial and residential floor coverings and segments. The Flooring Systems segment develops, produces, and sells linoleum, vinyl floorings, entrance flooring systems, carpet tiles; needle felt floor coverings, Flotex, the washable textile flooring, and building and construction adhesives.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=110789434
Key Offerings:
• Past Market Size and Competitive Landscape
• Flooring Market Size, Share, Size & Forecast by different segment
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Flooring Market Segmentation – A detailed analysis by Product
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
Request for New Version: https://www.marketsandmarkets.com/RequestNewVersion.asp?id=110789434
➤ The report answers a number of crucial questions, including:
• Which companies dominate the global Flooring market?
• What current trends will influence the market over the next few years?
• What are the market’s opportunities, obstacles, and driving forces?
• What predictions for the future can help with strategic decision-making?
• What advantages does market research offer businesses?
• Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
• What is the anticipated growth rate for the Flooring market economy globally?