Table of Contents
Global demand to grow 5% annually through 2014
Global demand for flooring and carpets is forecast to grow 5.0 percent annually through 2014 to 15.3 billion square meters, a noticeable improvement over market performance during the recessionimpacted 2004-2009 period. Product sales will expand at a faster pace in dollar terms, rising 6.5 percent per year to $204 billion in 2014, due to an expected raise in average floor covering prices. Market advances will be driven by acceleration in world residential building construction activity, supported by an upturn in spending in industrialized countries such as the US and Spain, and by healthy sales environments in a number of developing nations. Renewed strength in motor vehicle industry production after a period of decline will also contribute to overall flooring and carpet market growth.
North America to register fastest gains in demand
In a reversal of historical trends, North America will register the fastest sales gains of any region through 2014, largely because of a strong rebound in residential construction expenditures in the US, with double-digit annual increases in regional motor vehicle output also helping bolster floor covering demand. Developing parts of Asia will register the next fastest advances, followed by Central and South America and Eastern Europe. China alone will account for 38 percent of all additional sales through 2014, strengthening its position as the largest flooring and carpet market in the world in area terms. Growth is also expected to be healthy in lower-volume markets like Ukraine, Vietnam, India, Turkey and Thailand. Although increases will generally be not as strong as in North America or developing parts of the world, floor covering demand in Japan and Western Europe will climb as well. Growth in these areas will be fueled by renewed strength in new housing construction spending and transportation equipment sector output following a period of decline.
Nonresilient flooring to be fastest growing products
Market gains in the dominant nonresilient flooring (ceramic, laminate, wood, etc.) segment are projected to be stronger than those for both resilient and textile floor coverings through 2014. Suppliers will benefit from healthy increases in floor covering demand in developing parts of Asia, where nonresilient products account for the vast majority of the sales total, as well as by expanding use of laminate flooring in the large US market because of its durability and ease of maintenance. The world market for carpets and rugs, the next most widely utilized type of floor covering, will be spurred by robust growth in US residential building construction activity and an upturn in global automotive industry production. Sales advances for resilient flooring, which accounts for the remaining product demand, will be stimulated by its comparatively low cost and supported by favorable performance features such as high underfoot comfort, noise absorption, durability and wear resistance.
Transportation, other nonbuilding to lead market gains
The residential building market is by far the largest segment, accounting for more than half of all product sales in 2009. The nonresidential building market is also huge. Floor covering use in transportation equipment and other nonbuilding applications only accounts for a modest share of the world demand total, but this market will record the fastest gains through 2014, mainly due to a robust increase in automotive industry output.
This new industry study presents historical demand data (1999, 2004 and 2009) plus forecasts for 2014 and 2019 by product, market, world region and for 38 countries. The study also considers key market environment factors, evaluates company market share and profiles 41 industry competitors.
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