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The global floor covering market is expected to benefit from a large population of consumers seeking high-quality products. Also, the increasing disposable income, booming housing industry, and growing demand for luxury flooring options are anticipated to contribute to the growth of the market worldwide. Technavio’s market research analyst predicts the global floor covering market to reach a market value of around USD 301 billion by the end of 2019.
However, the vast amount of non-degradable waste that gets generated during the manufacturing of textile floor coverings is expected to pose a challenge to the market growth. For instance, Germany accounts for the highest production of textile floor coverings and is estimated to generate nearly six kilograms of total floor covering (TFC) waste per capita every year. Global concerns about the harmful effects of such waste generation have affected the global floor covering market negatively.
The market value of the residential segment is expected to reach USD 168 billion by the end of 2019.
The residential segment is further classified as residential replacements and new residential fitments.
This research report predicts the residential floor covering replacement demand to increase during the forecast period.
Textile floor covering is the dominant segment and is expected to grow at a rate of 5% during the forecast period. Textile floor coverings include carpets and rugs, which are mostly used for aesthetical purposes across homes and offices. Colder regions, like the US and the UK, account for a higher sales of such carpets and rugs.
APAC is expected to account for around 42% of the global floor covering market share during the forecast period. The boost in the housing industry in this region is driving the growth of this region. Countries such as China, Australia, India, and Japan are forecasted to be the biggest revenue contributors in this region.
The global floor covering market is highly fragmented with the presence of local and domestic players. The market includes manufacturers, distributors, and large retailers for various types of floor covering products.
The leading vendors in the market are –
Other vendors in the market include Anderson Hardwood Floors, API, Autoneum, Balta Industries, Beauflor Vinyl Tiles, Beaulieu, Dixie, Forbo, Interface, International Automotive Components, Johnsonite, Kährs, Kaindl Flooring, Nature Home, Newpearl Ceramics, Nora, Oriental Weavers, RAK Ceramics, Panariagroup, TOLI, and V&B Fliesen.
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Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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