The production value of floor and wall coverings in Finland has shown a positive growth trend from 2016, rebounding from a decline observed between 2013 and 2015. The most noticeable growth occurred between 2017 and 2020, with the peak production value reaching 400.5 million Euros in 2019. Despite a slight decline in 2020, the recovery continued with steady growth, and by 2023, it stood at 401.3 million Euros.
From 2021 to 2023, the year-on-year growth rates slightly reduced, indicating a stabilizing trend at around 1.4%. The Compound Annual Growth Rate (CAGR) for the last five years showed a consistent moderate growth of approximately 1.06%.
The forecasted data from 2024 to 2028 suggests a continual increase, with the CAGR projected to be around 1.03%, contributing to a 5.26% growth over these years, culminating in 428.1 million Euros by 2028.
Future trends to watch for include the impact of technological improvements in production processes, shifts in consumer preferences towards sustainable materials, and potential economic factors affecting the construction industry. Monitoring these can provide strategic insights into the market dynamics for floor and wall coverings.
