Global Flooring Market Estimated to Reach US$ 429.25 Bn by 2025: Transparency Market Research

Transparency Market Research has released a new market report titled “Flooring (Carpets and Rugs, Wood, Resilient, Tiles and Others) Market for Residential, Commercial, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025.” According to the report, the global Flooring Market was valued at US$ 247.56 Bn in 2016 and is anticipated to reach US$ 429.25 Bn in 2025, expanding at a CAGR of 6.4% between 2017 and 2025.

The demand for flooring was the largest from Asia Pacific, which accounted around half of the global flooring market in terms of volume in 2016. Increasing construction activities and rapid industrialization and urbanization in developing countries such as China, Brazil and India is expected to be the key driver for the flooring market in the next decade. Further, recovery in the construction sector in Europe and North America is also expected to boost demand for flooring products in the near future. Storm- and earthquake-prone regions in the US, Japan, and in Southeast Asia are also likely to witness high demand for flooring products. The global demand for flooring products is anticipated to rise at a CAGR of 6.4% between 2017 and 2025.

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Asia Pacific was estimated to have the highest demand for flooring products in 2016. The construction industry is expanding at a rapid rate in several emerging regions in Asia Pacific following the trends of high economic growth in these regions. Ceramic tiles are the dominant type of flooring used in Asia Pacific and are available in a variety of price ranges and designs. In Asia Pacific, China is the largest consumer of flooring products accounting for over 40% of the total demand in Asia Pacific. Japan, South Korea and Australia are other important consumers of flooring products in this region. India has a significant potential for growth in the flooring market as a significant portion of flooring is currently constructed from non-standard materials.

Europe was another leading consumer of flooring products in 2016. Though, the flooring market in Europe is comparatively mature, new technological developments in flooring products such as is expected to boost demand in this market during the next decade. Flooring products in this region have to meet stringent environmental and health standards set by the European Union

North America is another major market for flooring products. The U.S flooring market is technologically intensive with most of the flooring manufactures investing significantly in R&D activities for the development of new products. Relatively newer flooring products such as luxury vinyl tile (LVT) and wood-plastic composites (WPC) are the fastest growing products in this region.

Many countries in Africa have a low per capita consumption of flooring products and hence offer significant potential for growth. Key countries in the African flooring market are South Africa, Nigeria & Egypt. Ongoing construction of skyscrapers in the GCC is the key driver for flooring products in the Middle East & Africa region. Key countries in this region are Saudi Arabia, Qatar and UAE. This region is projected to grow at a CAGR of 7.8% in terms of revenue during the forecast period.

The report segments the global flooring market as follows:

Flooring Market: Product Segment Analysis

  • Carpets and rugs
  • Wood
  • Resilient
  • Tiles
  • Others (Laminate, Stone etc.)

Flooring Market: Application Analysis

  • Residential
  • Commercial
  • Others (Industrial etc.)

Flooring Market: Regional Analysis

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • Turkey
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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