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Flooring Market Size By Product (Soft Coverings, Resilient Flooring [LVT, VCT, Vinyl Sheet, Fiberglass, Linoleum], Non-resilient Flooring [Ceramic, Stone, Wood & Laminate], Seamless Flooring), By Application (Residential, Commercial, Industrial), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI122
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Statistics

Flooring Market size surpassed USD 440 billion in 2022 and is anticipated to record 4% CAGR during 2023 to 2032. Rising construction initiatives, supported by publicly funded infrastructural projects is poised to bolster the industry demand.
 

Flooring Market

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The booming residential construction projects across developed economies have increased the value of global construction work. Strong household finances and shifts in household expenditure trends have increased the appeal of single-family dwellings. Home remodeling projects are also gaining significant interest, boosting the need for critical components such as flooring products in construction applications.
 

It is slated that the negative impact of some flooring product debris on the health and environment may inhibit flooring market growth. Many of the flooring alternatives contain harmful chemicals, which can be a major source of indoor air pollution. Carpentry processes can release volatile organic compounds (VOCs) into the air. Additionally, most of the vinyl flooring is made using reprocessed plastic containing toxic phthalates. These factors may impede industry development.
 

Rapid industrialization to increase the demand for non-resilient floorings

The non-resilient flooring market revenue is expected to be worth USD 470 billion by 2032. Non-resilient flooring is made using man-made and natural materials including laminate, hardwood and tile. Factories often deploy heavy-duty equipment and machines which require hard surfaces such as concrete to provide reinforcement and stability at their bases. With industrialization growing at a staggering rate, the number of manufacturing facilities is said to rise, augmenting the need for hard non-resilient floorings.
 

Flooring Market By Product

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Government investment in manufacturing to increase the use of industrial flooring options

The industrial application segment will to cross USD 33 billion by 2032. Flooring is an essential element in various purposes including aviation hangers, refineries, and manufacturing facilities. Growing government spending on manufacturing plants, in addition to rapid industrialization, has thus fostered the demand for industrial flooring products. Shifting consumer priorities towards chemical resistance flooring with high mechanical strength and enhanced finishing ability will also increase product acceptance.
 

Robust infrastructural development in Asia Pacific

Global Flooring Market By Region

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The Asia Pacific flooring market is projected to attain more than 4.5% gains between 2023 to 2032. This growth can be credited to the rapid infrastructural progress in developing economies such as India, Vietnam, and China. India is estimated to witness a substantial increase in construction expenditure and may potentially surpass China, which has the largest economy in the forthcoming years. With the resultant surge in construction projects, the demand for building elements such as flooring will surge significantly, creating strong opportunities for regional growth by 2032.
 

Strategic business expansions by major players

Some of the major flooring industry participants operating include Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., Kingspan Group Public Ltd. Company, Mannington Mills Inc., Mohawk Industries, Polyflor Ltd., Pergo, Shaw Floors, Tarkett, Beaulieu, Balta Flowcrete, Delconca, Instarmac, Parador, The Dixie Group, Hyosung Swan Carpet, EGGER, SWISS KRONO Holding AG, Neuhofer. These contenders are focusing on acquisitions, among other strategic measures, to expand their businesses and reinforce their business position.
 

Impact of the COVID-19 crisis on industry trends

The COVID-19 pandemic caused unprecedented disruptions in the global supply chain. Stringent lockdowns and social distancing norms restricted the movement of people and brought several construction projects to temporary halts. Coupled with environmental regulations, the pandemic also had a severe impact on the economies worldwide. The unavailability of labor and raw materials reduced the demand for new building and remodeling projects, thereby decreasing the requirement for various construction elements such as floorings. However, the gradual resumption of infrastructural projects and recovery efforts from major construction businesses may strengthen the construction landscape, and in turn, garner the development of the flooring market over the coming years.
 

This market research report on flooring includes in-depth coverage of the industry with estimates & forecast in terms of volume in Billion Sq. feet and revenue in USD Billion from 2018 to 2032 for the following segments:

Market, By Product

  • Soft Flooring
  • Resilient Flooring
  • Non-Resilient Flooring
  • Seamless Flooring

Market, By Application

  • Residential
  • Commercial
  • Industrial

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Netherlands
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kiran Pulidindi, Sayan Mukherjee

Frequently Asked Questions (FAQ) :

The market size of flooring surpassed USD 440 billion in 2022 and is expected to exhibit 4% CAGR between 2023 and 2032, owing to increased spending on construction.

Flooring industry share from the non-resilient flooring product segment is anticipated to be worth USD 470 billion by 2032, on account of accelerated industrialization and the growing number of manufacturing facilities.

Asia Pacific flooring industry is projected to attain 4.6% gains through 2032 due to rapid infrastructural development in China and India, among other Asian regions.

Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., and Kingspan Group Public Ltd are some of the companies operating in the flooring business scenario.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 26
  • Tables & Figures: 233
  • Countries covered: 22
  • Pages: 219

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