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Global Resilient Floor Covering Market - Growth, Trends, And Forecast (2019 - 2024)

Global Resilient Floor Covering Market - Growth, Trends, And Forecast (2019 - 2024)

  • October 2019
  • 155 pages
  • ID: 5826222
  • Format: PDF
  • By Mordor Intelligence LLP

Summary

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Market Overview
The Resilient floor covering market is expected to grow with a CARG of 5.5% from 2018 to 2024.

- Growing urbanization and industrialization which has resulted in the high and immediate requirement for resilient flooring in industrial areas, housing projects, and IT parks.
- A large number of home improvement and renovation activities in light of changing customer trends and lifestyles is leading toward high demand for resilient flooring in the residential sector.
- The growth of new luxury vinyl tile and fiberglass-backed sheet vinyl, which have had strong growth in recent years.
- Rubber, linoleum, and cork products offering commercial users environmentally friendly and sustainable flooring products.
- North America is projected to hold the dominant share in the global resilient floor covering market.
- The millennials workforce in the region is exceptionally driven, demanding, influential and increasingly affluent.

Scope of the Report
A complete background analysis of the Global Resilient Floor Covering Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report. The report also features the qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

Key Market Trends
Largest is the Vinyl Flooring Segment

- Vinyl flooring is a finished flooring material predominately made from a combination of limestone-based material mixed with composites of natural and synthetic polymer materials such as polyvinyl chloride and plasticizers. It is a type of robust and resilient flooring, which is primarily used in construction application related to commercial and residential projects.
- Other factors such as the development of infrastructures in various sectors such as healthcare, education, industrial automotive, and others and the growth of residential construction and homeowners fuel the growth of the market.
Growing Residential Usage

- The residential market has now fully embraced the product due to its durability, ease of installation and perceived value as a result of its thickness and rigidity. As consumers equate thickness with quality, rigid core products are in that vein.
- The residential segment gained popularity over commercial, with residential replacement and residential builders, where residential replacement alone accounting for 31.1% market share in 2017.
- Residential remodel and replacement continue to strive in the market. Installers on the retail side view it as easier to install the product. That combination creates a dynamic where it’s easy to understand why rigid is taking greater market share.

Competitive Landscape
The report covers major international players operating in the Global Resilient Floor Covering Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

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