The global resilient flooring market is expected to reach USD 59.43 billion by 2027, according to a new report from Reports and Data. The booming construction industry is expected to fuel the growth of the market. It is also expected that a significant increase in commercial and residential construction will drive the demand for resilient flooring over the next few years. Rapid urbanization has generated a wave of renovation and remodeling activity, increasing demand in the flooring industry. Along with the increasing investments in the construction industry, the increase in infrastructure to keep up with changes in lifestyle contributes to the increase in demand. Product innovation and customization are just a few parameters driving the growth of the market.
In recent years, the development of creative flooring technologies and the evolution of construction solutions and floor design have played a crucial role in industrial growth. An increase in government spending on infrastructure growth is also expected to further stimulate the global economy.
Unpredictable raw material expenses are a near headache. With another looming recession and a growing global trade war, fluctuating commodity prices have become a problem for the industry, making demand and supply unpredictable. This not only hinders the producers but also the entire industry due to the increased price of the finished product. The high risk of cuts due to low pressure points such as table legs limits the growth of this market. The presence of toxic chemicals such as phthalates and high sensitivity to hot items also act as a drag on the market.
The impact of COVID-19:
With the slowdown in global economic growth, the resilient flooring industry has also suffered some impact but has maintained a relatively positive performance, and analysts believe that the market size will be further expanded in the coming years. he debilitating effect of the pandemic has delayed the recovery of demand, both at home and abroad. As a result, exploitation levels are expected to decline further in May. Still, the year-on-year decline is expected to narrow from April as operating levels fell sharply in May due to reduced demand due to slower flows in the construction industry. But by the end of the crisis, sales of resilient flooring are expected to increase due to the focus on antibacterial and healthy flooring.
Get a sample report @ https://www.reportsanddata.com/sample-enquiry-form/3100
Major participants include Mohawk Industries, Inc., Tarkett SA, Forbo Flooring, Shaw Industries, Inc., Mannington Mills, Inc., Gerflow, Beaulieu, Nora System, Armstrong World Industries Inc. and DLW Flooring, among others.
Other key findings from the report suggest
- Government regulations restrict any use of harmful flooring and require producers to meet LEED (Leadership in Energy, and Environmental Design) certification for volatile organic compound (VOC) emissions expanding market reach.
- Increased demand for anti-slip and anti-bacterial flooring solutions is one of the major factors driving the resilient growth of the flooring market
- The development of the country’s government has promoted and invested in infrastructure development and creative IT construction. SEZs and parks, among others. This led to commercial flooring growth at a CAGR of 7.1% and further increase with emphasis on urbanization and industrialization.
- Due to its durability, ease of installation, and perceived value due to its thickness and rigidity, the residential market has now fully embraced the product. Consumers equate thickness with quality in the current scenario, and the demand is for rigid core products.
- Europe is expected to dominate the industry by 2027, accounting for 37.5% of the global share. The main factor accelerating market demand appears to be regulatory support for infrastructure growth.
Browse Full Report “Resilient Flooring Market” @ https://www.reportsanddata.com/report-detail/resilient-flooring-market
For the purposes of this report, the reports and data have segmented the global resilient flooring market on the basis of product, application, distribution channel and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Luxury Vinyl Tiles
- vinyl sheet and floor tiles
Application Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Retail distribution channel
- Wholesale and distribution business trend
Leading market competitors along with their production capacity, manufacturing base, product portfolios, business strategies, market share, and size are broadly discussed in the report. To facilitate a better understanding of the market, the competitive landscape has been explained in detail in the report. Additionally, the report provides a survey of the global market across various geographical regions. The regional analysis indicates that the global market is divided into North America, Europe, Latin America, Asia-Pacific, Middle East and Africa. The report also covers import-export consumption, supply and demand ratio, price analysis, gross margin and revenue estimation for each player in each region.
Moreover, the report is a comprehensive document containing information on recent research and development activities, latest strategic alliances, mergers and acquisitions, partnerships, agreements, government agreements, collaborations and promotional events such as product launches and joint ventures. The report contains statistical data organized in tables, charts, graphs, charts, and graphs.
Report customization request @ https://www.reportsanddata.com/request-customization-form/3100
Benefits of the report:
- Provides a comprehensive analysis of the competitive landscape
- Provides historical data (2017-2018) and estimates for the forecast period (2021-2027)
- Provides a futuristic perspective on market drivers and restraints
- In-depth 8-year forecast and market growth forecast
- In-depth analysis of market segments based on types and applications
- Provides a competitive advantage to the organization referring to this report
- Helps formulate successful investment strategies and business decisions
- Contains SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis and ROI Analysis
In conclusion, the report offers a quantitative and qualitative study of the global Resilient Flooring Market containing a global and regional analysis of the market. The market study sheds light on crucial market insights and statistical data on the basis of its drivers, limitations, opportunities, and future prospects. The report also covers the competitive landscape with the help of Porter’s five forces analysis and SWOT analysis.
Thank you for reading our report. For more information on customizing the report, contact us and we’ll make sure you get a report tailored to your needs.
Explore reports and primary data analysis of the global construction and manufacturing industry:
Breathable Membranes Market to Reach USD 3,107.8 Million by 2027
Membrane Switches Market to reach USD 373.2 Million by 2027
Air Quality Monitoring Systems Market to Reach $6.8 Billion by 2028
Soil Testing Equipment Market to Reach USD 8.57 Billion by 2028
Outdoor Power Equipment Market Size, Share, Growth | Forecast 2021-2028
Reports and Data is a market research and consulting firm that provides syndicated research reports, custom research reports and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries and helping customers make a smarter business decision. We offer market intelligence research ensuring relevant, fact-based research across multiple sectors including healthcare, technology, chemicals, power and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market.
Business Development Manager
Reports and Data | Web: www.reportsanddata.com
Direct line: +1-212-710-1370
E-mail: [email protected]
Read our innovative blogs @ https://www.reportsanddata.com/blogs