DUBLIN--(BUSINESS WIRE)--The "Flooring Market Type by Material (Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), Non-resilient (Ceramic, Stone, Wood, Laminate)), End-use (Residential, Non-residential), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The flooring market is estimated at USD 339.29 billion in 2018 and is projected to reach USD 447.74 billion by 2023, at a CAGR of 5.7%
Increase in the number of renovation & remodeling activities, the rise in population, and rapid urbanization drive the demand for flooring. Disposal of waste acts as a challenge for the growth of the flooring market.
Ceramic led the flooring market in 2017, in terms of volume; this segment is projected to retain its leading position through 2023. Its cost-effectiveness, resistance to stains and water, and environment-friendly properties contribute toward its leading position in the flooring market. Furthermore, the integration of new technologies in ceramic tiles such as digital printing has boosted its popularity in the construction industry.
Based on end-use industry, the flooring market has been segmented into residential and non-residential. The residential segment led the flooring market in 2017. The use of diversified flooring materials in residential buildings enhances aesthetic appeal and provides comfort. These materials help the user achieve dynamic control over noise & temperature and provide safe and slip-resistant floors. Housing renovation and maintenance have increased steadily in the recent past owing to the increasing disposable income of people; this is expected to drive the demand for flooring materials in residential flooring.
The Asia Pacific flooring market is projected to grow at the highest CAGR between 2018 and 2023. Factors such as the increasing number of new housing units, significant investments in the infrastructural sector, and rapid industrialization are driving the flooring market in the region. The markets in China and India are projected to be lucrative due to their growing construction industry in these countries.
The key players profiled in the report are as follows:
- Mohawk Industries (US)
- Shaw Industries (US)
- Tarkett (France)
- Armstrong Flooring (US)
- Forbo (Switzerland)
- Gerflor (France)
- Interface (US)
- Beaulieu International (Belgium)
- TOLI Corporation (Japan)
Milliken & Company (US)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Flooring Type Market, By Material
8 Flooring Market, By End-Use Industry
9 Flooring Market, By Region
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/m5xbx4/447_billion?w=4