DUBLIN--(BUSINESS WIRE)--The "Global Hard-Surface Flooring by Product, Market and Region" report has been added to ResearchAndMarkets.com's offering.
This study presents historical demand, production, and net exports data (2006, 2011 and 2016) and demand forecasts (2021) by product (ceramic, wood, laminate, other nonresilient, vinyl, other resilient), market (residential buildings, nonresidential buildings, transportation), and region (North America, Western Europe, Asia/Pacific, Central and South America, Eastern Europe, and Africa/Mideast).
The study also evaluates company market share on a global basis and the competitive strategies of key industry players, such as:
- Mohawk Industries
Rising Building Construction Activity Drives Growth for Hard-Surface Flooring
Growth will be driven by advances in building construction, particularly in the Asia/Pacific and Africa/Mideast regions. Rising product prices will also contribute to sales growth in value terms.
Developing Regions to Lead Growth
Growth will be strongest in the Asia/Pacific and Africa/Mideast regions, as advances in building construction activity in developing countries throughout these regions will spur gains for hard-surface flooring. In addition, rising standards of living will result in a reduction in the share of buildings with unfinished flooring, supporting higher levels of product use. India and China will post particularly strong growth and will be the two largest national markets for hard-surface flooring worldwide in 2021.
Vinyl Flooring Continuing to Post Fastest Growth
Demand for vinyl flooring rose rapidly between 2011 and 2016, boosted by rising sales of luxury vinyl tile (LVT). The development of LVT products has significantly improved the aesthetic qualities of vinyl flooring, resulting in particularly strong market share gains for these products in North America and Western Europe. Sales of LVT flooring will continue to grow quickly through 2021 as these products increasingly penetrate markets in developing regions.
Wood and Laminate Flooring Losing Market Share
Both wood and laminate flooring lost market share globally between 2011 and 2016, and both product groups are forecast to post below average growth through 2021. Technological advances have improved the ability of durable, cost effective ceramic and vinyl flooring products to convincingly mimic the look of wood. This has also hurt demand for laminate flooring, which competes in a similar niche, but is often more expensive than ceramic and vinyl flooring.
For more information about this report visit https://www.researchandmarkets.com/research/4dd98s/global?w=4