Flooring Market Size Worth $398.27 Billion by 2030: Grand View Research, Inc.

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SAN FRANCISCO, August 8, 2022 /PRNewswire/ — The global flooring market size is expected to reach $398.27 billion by 2030 and is expected to grow by 5.6% over the forecast period, according to a new report from Grand View Research, Inc. This growth can be attributed to the increase in construction activities such as construction of new hospitals, residential spaces, office spaces, shopping malls and hotels to meet the demand of the growing global population.

Key industry insights and findings from the report:

  • Vitrified (porcelain) accounted for 27.6% of total flooring market revenue in 2021. The market is expected to reach $109.20 billion by 2030. This growth is attributed to the durable properties of porcelain, due to which it is highly preferred in residential and commercial structures.
  • The residential application segment accounted for 49.2% of the revenue share in 2021. This is due to increasing population in developing countries and increasing expenditure on residential buildings in developed countries.
  • The business application segment was estimated at $166.76 billion in 2021 and is expected to grow at a CAGR of 5.2% over the forecast period. This growth is attributed to increasing commercialization and urbanization in developing regions of the Asia Pacific Region.
  • The Asia Pacific The region dominated the flooring market in 2021 with a market share of 44.96% and this trend is expected to continue in the coming years. Population growth in growing economies such as India, Saudi Arabia, Japanand Indonesia propels the demand for flooring in the market.
  • The North American region contributed about 13.71% of the total revenue share in 2021. The flooring industry in North America is expected to experience significant growth over the next few years due to increased construction of residential and commercial buildings in the area.

Read the full 108-page Market Research Report for more insights, “Flooring Market Size, Share and Trends Analysis Report by Product (Ceramic Tile, Porcelain Tile, Carpet, Vinyl, Luxury Vinyl Tile (LVT), Linoleum & Rubber), By Application, By Type, By Region, And Segment Forecasts, 2022 – 2030″, published by Grand View Research.

Flooring Market Growth and Trends

The global flooring industry is growing due to rapid economic and industrial development as well as population growth. In addition, the growth of the service sector and the development of industrial clusters in emerging economies such as India are further expected to boost the demand for flooring materials in commercial and industrial applications. Moreover, the vigorous industrialization and urbanization of developing countries in the Asia Pacific and Africa led to high-paced construction activities, triggering the growth of the flooring market.

The construction industry in the Asia Pacific is expected to grow due to rising per capita income, rapid urbanization and population expansion. Expanding residential, commercial and industrial sectors owing to sustained economic growth in the region are expected to boost construction activities, thereby boosting the flooring market during the forecast period.

Growing awareness regarding the use of eco-friendly building materials is believed to be propelling green renovation or renovation activities of existing constructions in developed economies of North America and Europe. Furthermore, increasing adoption of recyclable and reusable technologies by major players is expected to drive the market growth over the forecast period.

Flooring products are used in many commercial building applications including offices, convenience stores, shopping malls and the construction of other retail stores. The increase in the construction of commercial buildings, such as pharmacies, grocery stores, and big box stores, over the past few years is expected to benefit the growth of the segment over the forecast period. Moreover, the high demand for office space, especially in urban areas of emerging economies, is also propelling the demand for high-quality products in the flooring market.

Growing demand for luxury housing in European countries is one of the major drivers of the flooring market. Almost all medium and large cities such as Lisbon, Port, Paris, Berlin, Frankfurt, Milanoand Madrid are witnessing an increase in luxury real estate investments. In addition, the renovation of housing in Europe should create many opportunities for flooring sellers. In addition, the booming hospitality industry in the European region is also contributing to the development of hotels, resorts, and restaurant chains, which further contributes to the growth of the global flooring market. Additionally, renovation and redevelopment activities in European countries are expected to drive the market in the coming years.

Segmentation of the flooring market

Grand View Research has segmented the flooring market based on product, application, type, and region:

Flooring Coatings Market – Product Outlook (Volume, Million Sqm; Revenue, USD Million; 2021-2030)

  • Ceramic tiles
  • Vitrified tiles (porcelain)
  • Carpet
  • Vinyl
  • Luxury Vinyl Tiles (LVT)
  • Linoleum/rubber
  • Wood and laminate
  • natural stone
  • Other flooring materials

Flooring Coatings Market – Application Outlook (Volume, Million sq.m.; Revenue, USD Million; 2021-2030)

  • Residential
  • Commercial
  • Industrial

Flooring Market – Type Outlook (Volume, Million sq.m; Revenue, USD Million; 2021-2030)

  • Resilient flooring
  • Soft coverings
  • Non-resilient floors
  • Seamless flooring

Flooring Coatings Market – Regional Outlook (Volume, Million Sqm; Revenue, USD Million; 2021-2030)

  • North America
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Romania
    • Czech Republic
    • Portugal
    • Ukraine
    • Slovakia
    • Hungary
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Philippines
    • Vietnam
  • Middle East & Africa
    • Saudi Arabia
    • United Arab Emirates
    • Israel
    • Egypt
    • Qatar
    • South Africa
    • Morocco
  • Central & South America
    • Brazil
    • Argentina
    • Peru
    • Colombia
    • Chile

List of Key Players in Flooring Market

  • Mohawk Industries, Inc.
  • Tarkett, S.A.
  • AFI license
  • Burke Flooring Products, Inc.
  • Firbo floor
  • Shaw Industries, Inc.
  • Interface, Inc.
  • Gerflor
  • Mannington Mills, Inc.
  • Polyflor
  • RAK Creams
  • Crossville inc.
  • Atlas Concorde SPA
  • Porcelanosa Group
  • Kajaria Ceramics Limited

Check out other related studies published by Grand View Research:

  • Resilient Flooring MarketThe global resilient flooring market size is expected to reach $67.7 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to grow at a CAGR of 7.2% from 2021 to 2028. Product benefits including cost effectiveness, reduced maintenance and improved aesthetics, are expected to drive the demand for resilient flooring over the forecast period.
  • Flooring Adhesives Market – The Global Flooring Adhesives Market Size is Expected to Reach $7.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 6.8% from 2021 to 2028. The market is expected to be driven by the growing focus on luxury homes and increased investment in the construction sector.
  • Wood and Laminate Flooring Market – The global wood and laminate flooring market size is expected to reach $90.46 billion by 2025, expanding at a CAGR of 5.3%, according to a new report from Grand View Research Inc. Factors such as the natural look and feel offered by hardwood flooring coupled with the growing need Aesthetic improvements in building interiors are likely to increase growth.

Browse Grand View Research results Advanced Interior Materials Industry Research reports.

About Grand View Research

Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

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SOURCEGrand View Research, Inc.

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