China Floor Covering Market Analysis - Size and Forecast 2024-2028

China Floor Covering Market Size 2024-2028

The China floor covering market size is forecast to increase by USD 4.11 billion at a CAGR of 6.8% between 2023 and 2028.

• The market is experiencing significant growth due to several key trends. The rapid expansion of the construction industry is driving market demand, as new residential and commercial projects continue to emerge. Another notable trend is the increasing preference for waterproof floor coverings, particularly in regions prone to flooding or high humidity. Additionally, the rising prices of raw materials, such as rubber and PVC, are impacting market costs. These factors, among others, are shaping the dynamic landscape of China's floor covering market.

What will be the size of the China Floor Covering Market during the forecast period?

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• The market exhibits strong growth, driven by the expanding commercial sector and increasing demand for modern, durable, and water-resistant flooring solutions. Office spaces and workplaces prioritize contemporary flooring options, such as carpet tiles and resilient vinyl, for their flexibility and stain resistance. In residential settings, affordable and eco-friendly flooring materials, including polyester carpet and laminate, are popular choices for living rooms and bedrooms.

• Industrial and high-traffic areas often require durable, stain-resistant flooring, such as polypropylene carpet and industrial carpeting. Flooring trends lean towards minimalist and modern designs, with an emphasis on flexible and stain-resistant materials, as well as sustainable and eco-friendly options. Floor covering materials continue to evolve, offering a wide range of styles, from rustic and traditional to luxury vinyl and laminate, catering to diverse design preferences and functional requirements.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Residential
  • Commercial
• Product Type
  • Carpet and rug
  • Luxury vinyl flooring (LVF)
  • Ceramic tile
  • Wood
  • Others
• Geography
  • China

By Application Insights

• The residential segment is estimated to witness significant growth during the forecast period.

The market, particularly the residential segment, is witnessing significant growth due to urbanization, increasing disposable income, and evolving consumer preferences. With the expansion of the construction industry, especially in residential housing, the demand for versatile and cost-effective flooring solutions is surging. Homeowners are investing in high-quality floor coverings to enhance the visual appeal and functionality of their living spaces. Notable trends include the popularity of durable, aesthetically pleasing flooring options such as laminate, luxury vinyl tiles, and engineered hardwood. These materials offer a combination of style, practicality, and sustainability, making them preferred choices for Chinese consumers.

Furthermore, the market continues to innovate with eco-friendly flooring solutions, including renewable resources, porcelain tile, and rubber flooring, as well as smart home technologies like voice-activated assistants and smart lighting. The market is also seeing growth in customized flooring goods, modular systems furniture, and commercial development projects.

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The residential segment was valued at USD 7.03 billion in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of China Floor Covering Market?

Rapid growth in the construction industry is the key driver of the market.

• The market encompasses a wide range of products, including carpet, vinyl flooring, and resilient flooring. Cost-effective and high-quality floor covering solutions have gained significant traction in both the residential and commercial sectors. In the residential sector, housing industry growth and increasing disposable income have fueled the demand for premium flooring products, such as engineered hardwood flooring, carpet tiles, and eco-friendly flooring. In the commercial industry, innovation and customization are key drivers, with modular systems furniture, smart home technologies, and sustainable flooring options becoming increasingly popular. The construction industry, a significant end-user, is undergoing rapid expansion, with non-residential construction activities, such as commercial development and infrastructure investment, leading the growth.
• Notable projects include the Shuangyu Island development in Fujian and the Baltic Pearl Project. The manufacturing industry's regulating and maintenance needs also contribute to the market's growth, with customized flooring goods catering to various design possibilities and aesthetic appeal. Floor covering products offer versatility, durability, and flexibility, making them suitable for various applications, from residential space to hospitals, offices, and lodging facilities. Synthetic polymer materials, such as polypropylene and nylon, are commonly used In the production of these flooring products, ensuring water resistance, sustainability, and eco-friendliness. The market's growth is further driven by the increasing demand for smart flooring, such as voice-activated assistants and smart thermostats, and the integration of home automation systems.

What are the market trends shaping the China Floor Covering Market?

Demand for waterproof floor covering is the upcoming trend In the market.

• The Chinese floor covering market is witnessing substantial growth due to several factors. Urbanization and the construction industry's expansion are driving the demand for cost-effective, high-quality waterproof flooring solutions, such as vinyl, in residential and commercial spaces. These flooring options cater to the aesthetic appeal and durability requirements of consumers, particularly in sectors like housing and commercial development. Technological advancements have led to the production of visually appealing, resilient flooring products, including carpet tiles, engineered hardwood flooring, and smart flooring. Consumers' evolving lifestyles and increasing disposable income have fueled the demand for premium flooring options, such as eco-friendly and sustainable materials like polypropylene and natural fibers.
• Moreover, the market is witnessing innovation in various sectors, including infrastructure investment, renovation and remodeling, and customized flooring goods. Building projects, commercial complexes, hospitals, lodging facilities, and shopping malls are increasingly investing in flooring solutions that offer flexibility in handling, water resistance, and insulation. The flooring industry's manufacturing sector is also undergoing significant changes, with a focus on regulating and maintaining product quality while minimizing the environmental impact of raw material transportation and production processes.

What challenges does China Floor Covering Market face during the growth?

Rising prices of raw materials is a key challenge affecting the market growth.

• The market has experienced significant price fluctuations due to the rising costs of raw materials used in manufacturing, particularly In the production of carpets, vinyl flooring, and other flooring products. The demand for wood flooring, with the US being a major exporter, has exceeded supply, leading to increased prices for lumber and associated expenses such as transportation and labor. Similarly, the production of ceramics and vinyl flooring has been impacted by the scarcity of essential raw materials, resulting in increased prices. These factors have influenced the cost of high-quality floor covering products In the residential and commercial sectors, including housing industry projects, residential real estate, and commercial development.
• The market for flooring products, including carpet tiles, engineered hardwood flooring, and resilient flooring, offers versatile design possibilities and aesthetic appeal for interiors in houses, offices, and other spaces. The manufacturing industry's infrastructure investment, including regulating and maintenance, has become crucial in ensuring the production of cost-effective, durable, and sustainable flooring goods from synthetic polymer materials, such as polypropylene and nylon, and natural fibers. Innovation in flooring technology, including smart flooring, voice-activated assistants, and home automation, has further expanded the market's scope. The market's growth is influenced by factors such as consumer lifestyle, infrastructure investment, and renovation and remodeling projects.

Exclusive China Floor Covering Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Beaulieu International Group
• COOWIN Indoor WPC Wall Panel Inc.
• Decno Group Ltd.
• Elegant Living
• Forbo Management SA
• Foshan Hanse Industrial Co. Ltd.
• Fujian Floors China Co. Ltd.
• Hangzhou HanHent Industries Co. Ltd.
• Hubei Jinlong New Materials Co. Ltd
• Milliken and Co.
• Ningbo AK Sport Development Co. Ltd.
• Shandong Emosin Decorative Products Co. Ltd.
• Shanghai 3C Industry Co. Ltd.
• Shanghai Cimic Tiles Co. Ltd.
• Shenzhen Flyon Sports Equipment Co. Ltd.
• Suzhou Changyue Imp. and Exp. Co. Ltd.
• SWISS KRONO Tec AG
• Tjinan Luckyforest Decoration Material Co. Ltd.
• Zhangjiagang Yihua Rundong New Material Co. Ltd.
• Zhengzhou United Asia Trading Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market has experienced significant growth in recent years, driven by the expanding housing industry and increasing disposable income of consumers. The residential sector, in particular, has shown a strong demand for cost-effective, high-quality flooring solutions. Floor covering products, including carpets, vinyl flooring, and resilient flooring, have gained popularity due to their versatility and design possibilities. These flooring solutions cater to various interior decor styles and residential spaces, providing a flexible handling option for both residential complexes and individual houses. The flooring industry in China has seen innovation in manufacturing processes, with the use of synthetic polymer materials and advanced manufacturing techniques.

Moreover, this has led to the production of premium flooring options, such as engineered hardwood flooring and smart flooring, which offer aesthetic appeal and improved functionality. Commercial industries, including offices, shopping malls, and commercial complexes, have also shown a growing interest in customized flooring goods. The commercial development sector has been a significant contributor to the market growth, with infrastructure investment and building expansion projects driving the demand for flooring solutions. The housing industry's aging infrastructure and the need for renovation and remodeling have also boosted the market. Customized flooring options, such as carpet tiles and rugs, have become increasingly popular due to their personalization possibilities and eco-friendly attributes.

Furthermore, the flooring market in China is not limited to residential and commercial applications. It also caters to various industries, including hospitals, lodging facilities, and educational institutions. The demand for sustainable flooring options, such as porcelain tile and renewable resources, has been on the rise due to growing concerns about environmental impact and government regulations. The manufacturing industry's role In the floor covering market is crucial, with raw material transportation and insulation being key factors In the production process. The industry's focus on regulating and maintaining quality standards has led to the development of smart flooring solutions, including voice-activated assistants, smart thermostats, and smart lighting systems.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across China
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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