LONDON--(BUSINESS WIRE)--The global non-resilient flooring market size is poised to grow by 1240.00 million m2 during 2020-2024, progressing at a CAGR of over 2% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The non-resilient flooring market is driven by the rapid growth in residential construction. Emerging economies such as China, India, and countries in South-East Asia in APAC recorded strong construction activity in the last few years. In India, the implementation of the RERA in 2017 has boosted investments in the residential sector. Also, significant budget allocations by the Indian government for the development of smart cities will raise demand for non-resilient flooring during the forecast period. South-East Asian countries such as Singapore, Malaysia, Indonesia, Philippines, Thailand, and Vietnam, including Hong Kong, also reported robust residential construction activity. Construction activity also expanded at a moderate rate across developed economies, including the US and Western Europe
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Report Highlights:
- The major non-resilient flooring market growth came from the ceramics segment in 2019 and is expected to witness the fastest growth during the next five years.
- APAC was the largest non-resilient flooring market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing construction activities in countries.
- The global non-resilient flooring market is fragmented. Armstrong Flooring Inc., Crossville Inc., Forbo Holding AG, Gerflor Group, Milliken & Co., Mohawk Industries Inc., PORCELANOSA Grupo AIE, R.A.K Ceramics PJSC, Shaw Industries Group Inc., and Tarkett Group. are some of the major market participants. To help clients improve their market position, this non-resilient flooring market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global non-resilient flooring market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Growing Popularity of Engineered Hardwood Floors will be a Key Market Trend
Engineered hardwood flooring products are becoming highly popular, especially in the US, Western Europe, and other developed markets, as they have several benefits over the solid hardwood flooring. Engineered hardwood is produced by incorporating a thin layer of natural wood over a dimensionally stable plywood base and requires less wood during production. The plywood base in engineered hardwood flooring offers higher moisture resistance compared to solid hardwood flooring while providing innate properties of wood such as temperature insulation. Rapid advancements in floor printing technology have enabled vendors such as Mohawk Industries and Mannington Mills to offer engineered hardwood flooring products in a wide range of designs. Thus, the growth of engineered hardwood flooring is expected to boost demand for wood flooring, which augurs well for the global non-resilient flooring market during the forecast period.
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Non-resilient Flooring Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist non-resilient flooring market growth during the next five years
- Estimation of the non-resilient flooring market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the non-resilient flooring market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of non-resilient flooring market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product by Volume
- Market segments
- Comparison by Product by volume
- Ceramics - Market size and forecast 2019-2024
- Wood and laminates - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product by volume
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Armstrong Flooring Inc.
- Crossville Inc.
- Forbo Holding AG
- Gerflor Group
- Milliken & Co.
- Mohawk Industries Inc.
- PORCELANOSA Grupo AIE
- R.A.K Ceramics PJSC
- Shaw Industries Group Inc.
- Tarkett Group
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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