Increase in urban population, consumer preferences for aesthetically better designs, textures and colors, as well as low maintenance and easy to install flooring are driving the growth of the global market interior flooring market.
PORTLAND, Oregon., July 5, 2022 /PRNewswire/ — Allied Market Research has released a report titled “Interior Flooring Market by Type (Ceramic Tile, Carpet, Vinyl, Linoleum & Rubber, Wood & Laminate, Others), By Construction Type (New Construction, Renovation), by End User (Residential, Commercial and Industrial): Global Opportunities Analysis and Industry Forecast, 2021-2030”. According to the report published by Allied Market Research, the global interior flooring industry generated $133.3 billion in 2021, and should reach $226.3 billion by 2031, with a CAGR of 5.4% from 2022 to 2031.
Main determinants of growth
Rising urban population, consumer preferences for aesthetically better designs, textures and colors, as well as low maintenance and easy to install flooring are driving the growth of the global flooring market interior. Additionally, the increase in urban population increases commercial construction activity, which, in turn, provides lucrative opportunities for growth.
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The outbreak of COVID-19 pandemic has negatively impacted the growth of the global interior flooring market as the pandemic has halted the production of many products in the interior flooring market with lockdown restrictions in place.
The demand for interior flooring has decreased significantly in the construction sector, due to the temporary closure of all construction projects.
Supply chain disruptions, unavailability of raw materials and low labor were the main challenges faced by manufacturers.
The new construction segment will maintain its leadership throughout the forecast period
Based on type of construction, the new construction segment held the highest market share in 2021, holding more than four-fifths of the total market share, and is expected to maintain its leading status during the period of forecast. Moreover, the same segment is estimated to register the highest CAGR of 5.5% from 2022 to 2031, due to various factors such as flexibility, in terms of design, color and texture offered by these tiles. The report also analyzes the renovation segment.
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The residential segment to maintain its leadership throughout the forecast period
On the basis of end-user, the residential segment held the largest market share in 2021, holding around three-fifths of the total market share, and is expected to maintain its leading status over the forecast period. Moreover, the same segment is expected to register the highest CAGR of 5.6% from 2022 to 2031. This is due to the increasing global population and growing demand for residential homes. The research also addresses segments such as commercial and industrial.
Asia Pacific maintain its leading status throughout the forecast period
Based on the region, Asia Pacific is contributed the highest share in terms of revenue in 2021, holding almost half of the total market share, and is expected to retain its dominant share by 2031. Additionally, this region is expected to show the fastest CAGR by 6.0% during the forecast period, due to the rapid development of the construction industry and the easy availability of raw materials. The research also analyzes regions including North America, Europeand LAMEA.
Main actors :
Armstrong Flooring, Inc.
Beaulieu International Group
Forbo International SA
Mohawk Industries, Inc.
Shaw Industries Group, Inc.
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Similar reports we have:
industrial flooring market – the global industrial flooring market size has been valued at $7.9 billion in 2021, and should reach $13.5 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031
Home Improvement Services Market – the global home improvement services market size has been valued at $316.8 billion in 2020, and should reach $585.3 billion by 2030, registering a CAGR of 6.2% from 2021 to 2030.
Exterior Flooring Market – the global exterior flooring market size has been valued at $16,557.7 million in 2019, and should reach $22,070.0 million by 2027, registering a CAGR of 5.6% from 2020 to 2027.
ceramic tile market – the global ceramic tile market size has been valued at $343.9 billion in 2020, and should reach $633.5 billion by 2030, registering a CAGR of 6.3% from 2021 to 2030.
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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. CEO of Allied Market Research Pawan Kumar is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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