Global Flooring Market 2016-2020
Market outlook of the flooring market
Technavio’s research analyst predicts the global flooring market to grow steadily at a CAGR of approximately 6% during the forecast period. The growing construction sector is the primary growth driver for this market. The demand for efficient and aesthetically appealing products is growing globally. In most of the developing and emerging economies such as APAC and Latin America, the demand for such products is increasing due to rapid urbanization.
The effective disposal of flooring waste is expected to pose challenges to the market growth during the forecast period. Flooring waste is generated by both new installations and replacement procedures. As flooring is measured in linear dimensions, flooring in structural designs such as circular sections, trims, and transition pieces generates a considerable amount of waste leading to monetary losses for the consumers.
Product segmentation and analysis of the flooring market
- Soft covering
The soft covering segment dominated the market during 2015, accounting for a market share of around 48%. The ease of their installation and their varied nature are the key drivers for their popularity in both the commercial and residential sectors. Moreover, as they help in noise absorption, they are a practical choice in apartments, aiding in restricting the travel of sound between floors.
Geographical segmentation and analysis of the flooring market
The Americas accounted for a market share of around 40% during 2015 and is expected to grow at a rate of approximately 6% during the forecast period. The flooring market in the Americas is primarily driven by the rise in investment in the residential construction sector and the growing demand from the remodeling and new constructions sector. For instance, during 2014, the total spending in the residential construction sector in the US was valued at around US $354 billion.
Competitive landscape and key vendors
The global flooring market is highly fragmented with the presence of well-established and unorganized players in various segments of flooring. Flooring manufacturers are investing in new product development, which in turn is leading to intense competition among the vendors. In terms of marketing, large vendors are focusing on creating a brand identity and manufacturing products affordable by all classes.
The leading vendors in the market are -
- Mannington Mills
The other prominent vendors in the market include Anderson Hardwood Floors, Asian Granito, Fired Earth, Forbo, Interface Global, Karndean, and Milliken.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global flooring market?
- What are the key market trends impacting the growth of the flooring market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global flooring market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW?
- What are the key outcomes of the five forces analysis of the flooring market?
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