Flooring Market Size, Share, Growth, Industry Trends, Outlook with Company Analysis, and Forecast to 2027

Rising demand for resilient materials to augment the growth of flooring market

Significant rise in construction and infrastructure developments across the residential, commercial and industrial sector has drawn considerable attention towards flooring over the past few years. This is fueling the application of flooring material across these sectors, providing positive growth prospects for global flooring market.

According to Global Market Insights, Inc., flooring market size is projected to surpass USD 480 billion by 2027.

Flooring industry is witnessing strong growth from increasing expenditure towards construction in the commercial and residential segment. The economic growth across Latin American and Asian countries is fostering the construction industry, which in turn is impelling the adoption of flooring material. Increasing demand for new houses on account of growing population is further supporting the business expansion.

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Similarly, commercial construction industry is also observing an augmented growth over the past decade driven by economic expansion and increasing development of office spaces. This in turn is fueling the demand for flooring products in these establishments.

However, the ongoing COVID-19 crisis has affected the global construction industry which has subsequently affected flooring market space. But with gradual relaxation in COVID restrictions, the market situation is expected to improve and will continue to grow over the upcoming years.

With regards to the industrial segment, it would be pivotal to mention that there has been a substantial increase in the number of industrial establishments across the emerging economies. This has increased the penetration of seamless floorings in industrial sector. With this burgeoning demand, industrial application segment is anticipated to register an appreciable valuation of more than 20 USD billion by 2027.

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Material for flooring comes in resilient and non-resilient type. Resilient flooring material is gaining immense popularity owing to the advantages offered by it such as resistance to cracks and crevices, resistance to moisture, sound absorption and cost-effectivity.

Besides, ongoing product enhancement and technical advancements in resilient flooring products is stimulating their adoption further. Citing an instance, in 2021, Unilin Technologies introduced its proprietary bevel technology for resilient flooring. According to the company, this technology involves pressing the edges of resilient flooring panel downwards into a bevel which ensures that the decor layer and board texture continue until the innermost point of the bevel. It improves the appearance of resilient flooring to be closer to real wood.

Elaborating on non-resilient flooring, the material is witnessing a heightened demand driven by the rising consumer preference for wooden flooring. With rising demand for wooden and laminate floorings across developing economies, non-resilient flooring segment is estimated to record a robust CAGR of around 6.5% through 2027.

Speaking of the regional outlook, Europe has emerged as a matured and developed market for flooring material. This is majorly due to the strong presence of end-user industries along with the expansion of residential construction industry in the region. The growth of regional industry is further backed by the mounting demand for office spaces which is fostering the commercial flooring. Considering these factors, Europe flooring market is projected to register a lucrative CAGR of around 3.5% through 2027.

Report Content

Chapter 1   Methodology And Scope

1.1    Methodology

1.1.1    Initial data exploration

1.1.2    Statistical model and forecast

1.1.3    Industry insights and validation

1.1.4    Scope, definition and forecast parameters

1.2    Base estimation & working

1.2.1    North America

1.2.2    Europe

1.2.3    APAC

1.2.4    LATAM

1.2.5    MEA

1.3    Forecast calculations

1.3.1    COVID-19 impact calculations on industry forecast

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary    Paid    Unpaid

Chapter 2   Executive Summary

2.1    Flooring industry 360° synopsis, 2017 – 2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    Regional trends

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