According to a
market study published recently by Transparency Market Research
(TMR), the global flooring market, which stood at US$214.3 bn in
2014, will reach US$391.4 bn by the end of 2023. In terms of volume,
the market in 2014 stood at 16,419.2 mn square meters.
In-depth research
report on Flooring Market with Full TOC at :
http://www.transparencymarketresearch.com/flooring-market.html
Flooring products
are construction materials that are used to cover the floor area in
commercial, residential, and industrial buildings. A wide range of
products such as tiles, wood, carpets and rugs, vinyl and rubber, and
others are commonly used to cover floor areas. Being an ancillary to
the construction industry, the expansion of the global flooring
market is significantly impacted by the growth of the former. While
the rising construction industry boosts demand for flooring
materials, the increasing use of the same in automobiles and deck
coverings is also anticipated to increasing demand for flooring
materials around the world. Based on in-depth findings, the report
states that increasing production in the automotive industry,
together with rapid expansion of the shipping industry, will augment
demand from the global flooring market.
Despite exhibiting
impressive growth trends over the past few years, the market will
suffer from the adverse impact of volatile raw materials prices. Wood
and lumber being the major raw materials upon which the flooring
industry depends, fluctuations observed in prices of these raw
materials will evidently have a negative impact on the market.
Nevertheless, the market, according to the report, will gain much
traction in the near future from the expanding automotive and
construction industries, particularly in emerging economies.
To present a
holistic overview of the market, the report segments it into wood
flooring, carpets and rugs, vinyl and rubber flooring, and others
(such as laminate flooring, etc.) based on product type. In 2014, the
carpets and rugs segment witnessed the highest demand, totaling
6,556.9 mn square meters in terms of volume. The rising trend of
covering floors using carpets and rugs, particularly during winter or
in cold climates, aids the growth of this product segment. However,
over the report’s forecast period, the vinyl and rubber flooring
segment is likely to exhibit growth at the fastest pace, states the
report.
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On the basis of
application, the report segments the global flooring market into the
residential, commercial, and others (such as industrial and
automotive) segments. In 2014, the residential application segment
was touted as the largest segment in the flooring market, generating
over US$121.9 bn in terms of revenue. Emphasizing the exponential
growth of the segment, a lead TMR analyst said, “While residential
buildings segment exhibit impressive growth, their commercial
counterparts will soon catch up owing to the increasing demand for
green buildings and eco-friendly flooring materials”.
Regionally, the
report segments the global flooring market into Asia Pacific, Europe,
Latin America, Middle East and Africa, and North America. Among these
regions, demand from Asia Pacific and North America significantly
contributed to the growth of the global flooring market, states the
report.
Flooring Market:
Product Segment Analysis
- Carpets & Rugs
- Tile
- Vinyl & Rubber flooring
- Wood flooring
- Others (including laminate flooring)
Flooring Market:
Application Analysis
- Residential
- Commercial
- Others (including industrial and automotive)
Flooring Market:
Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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