Table of Contents
Increasing population, the rise in income & spending capacity, and the significant increase in urbanized population drive the growth of the flooring market. There are certain factors prevailing in the market that hinder its growth, namely, a severe issue of disposal of waste material generated in the manufacturing process.
Major flooring associations are emphasizing on spreading awareness about flooring, their benefits, and cost-effectiveness. They are also giving importance to the “do-it-yourself” application process, which allows the end user to apply the flooring himself, given the proper information and training. There are also some manufacturers that are associated with providing flooring training to contractors and individuals. Consulting services are also provided by manufacturers to help consumers choose the most-effective flooring for their living spaces.
The flooring market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships & expansions are the key strategies adopted by market players to ensure their growth in the market. The key players in the market are Mohawk Industries (U.S.), Shaw Industries (U.S.), Armstrong World Industries (U.S.), Tarkett (France), Forbo Corporation (Switzerland), Toli Corporation (Japan), Gerflor (France), The Dixie Group (U.S.), Interface Incorporation (U.S.), Polyflor (U.K.), and Congoleum (U.S.).
The major players in the market have a strong distribution network across the world and the financial strength to sustain them; however, the same cannot be said about the new entrants. For the flooring market, it is essential to have a strong distribution network to enable timely delivery of the product to customers, whenever needed. New entrants find it difficult to compete against established players in this regard.
The key players adopted inorganic growth strategies, such as acquisitions and partnerships & agreements to increase their scope in the market. These companies aimed at strengthening their position in the developed markets of Europe and North America and on entering the emerging flooring markets of the Asia-Pacific region and the Middle East. They invested considerably to acquire flooring businesses of local as well as established market players to reinforce their market position in the particular region.
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