The turnover of the floor and wall covering sector in Belgium has shown a steady increase over the years, rising from 1.01 billion Euros in 2013 to 1.28 billion Euros in 2023. Analysis of year-on-year variations indicates fluctuating growth patterns, with notable increases in 2015 (15.07%) and 2018 (13.38%). However, some years like 2017 (-7.62%) and 2019 (-7.73%) witnessed declines. In 2023, the turnover stood at 1.28 billion Euros, marking a modest year-on-year growth of 0.84%, with a CAGR of -0.92% over the past five years. Looking ahead, forecasts predict a gradual increase in turnover, reaching 1.33 billion Euros by 2028 with a forecasted 5-year CAGR of 0.63%.
Future trends to watch for:
- Emergence of sustainable and eco-friendly products driving market demand.
- Technological advancements like smart tiles and floor sensors.
- Growth in renovation activities boosting sector turnover.
- Potential economic fluctuations impacting consumer spending.
- Developments in raw material prices affecting production costs.
