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Flooring Market Size
- Report ID: GMI122
- Published Date: Nov 2022
- Report Format: PDF
Flooring Market Size
Flooring Market size exceeded USD 440 billion in 2022 and is anticipated to register 4% CAGR from 2023 to 2032.
Rising construction initiatives, supported by publicly funded infrastructural projects, have increased the flooring market demand. Furthermore, 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.
As per Oxford Economics, construction spending accounted for 13% of the global GDP in 2020, which is anticipated to reach 13.5% by 2030. The global construction output is expected to surpass USD 13.3 trillion by 2025, wherein, the residential sector will play a critical role over a short period. For instance, home remodeling projects are gaining significant interest, boosting the need for critical components such as flooring products in construction applications.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Flooring Market Size in 2022: | 445.45 Billion (USD) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4% |
| 2032 Value Projection: | 728.71 billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 219 |
| Tables, Charts & Figures: | 233 |
| Segments covered: | Product, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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It is anticipated that the negative impact of some flooring product debris on the health and environment may inhibit flooring market growth to a certain extent. 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 to a certain extent.
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Flooring Market Scope
