LONDON, May 04, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the resilient flooring market, rapid urbanization is contributing to the growth of the resilient flooring market. Economic, political and social problems combine with the circumstances of modernization to induce people to migrate from rural to urban areas. The expansion of modern offices, rapid urbanization and changing lifestyles are paving the way for the growth of new flooring substances. For example, according to flashpacking data from 2019, by 2050, 68% of the world’s population is expected to live in urban areas. Urbanization attracts rural citizens for many reasons and creates a quality of life. Thus, rapid urbanization will drive the growth of the resilient flooring market.
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The global resilient flooring market share is expected to grow from $31.85 billion in 2021 to $34.45 billion in 2022 at a compound annual growth rate (CAGR) of 8.15%. The growth of the market is mainly driven by businesses resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote work and business closures. activities that have resulted in operational difficulties. Global Resilient Flooring Industry Growth Is Expected To Reach $47.27 billion in 2026 to CAGR of 8.23%.
Technological advancement is a key trend gaining popularity in the resilient flooring market. More and more consumers are looking for ideas to make homes more sustainable. With trends such as solar panels and energy efficiency, more and more homeowners are using environmentally friendly building materials. Resilient flooring requires non-renewable resources to manufacture, making it difficult to manage consumer preference for sustainable materials. For example, in 2021, Beaulieu Flooring is making significant sales to provide resilient flooring that meets design, function and durability in the future.
The major players in the resilient flooring market are Mohawk Industries, Tarkett SA, Shaw Industries Group Inc, Armstrong World Industries Inc, Forbo Flooring, Gerflor Group, Interface Inc, Beaulieu International Group, Novalis Innovative Flooring, Congoleum, IVC Group of Belgium , Amtico International Co. Ltd from UK, Mannington Mills Ltd from USA, Unilin from Belgium, Milliken and Company from USA, Nora, Fatra as, American Biltrite Inc, Polyflor Ltd, Burke Industries Inc, Karndean International Limited , Berkshire Hathaway Inc, Alite floor, Pergo, Domco Tarkett Inc and DLW Flooring.
The global resilient flooring market is segmented by product type into luxury vinyl tile, sheet vinyl & floor tile, rubber, linoleum, other (cork); by construction activity in resilient flooring for renovation, resilient flooring for new construction; per application in residential, commercial, other (industrial).
Asia Pacific was the greater region in the resilient flooring market in 2021 and is also expected to be the fastest growing region in the global resilient flooring market over the forecast period. Regions covered in the Global Resilient Flooring Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle- East and Africa.
Global Resilient Flooring Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the Resilient Flooring Market, analyze Resilient Flooring Market and Forecast Market Size and Growth for Overall Market, Resilient Flooring Market Segments & Geographies, Resilient Flooring Market Trends, Resilient Flooring Market Drivers Resilient Flooring Market Constraints, Revenues, Profiles and Market Shares of Resilient Flooring Market Top Competitors in 1,000+ Industry Reports, Covering 2,500+ Market Segments and 60 Geographies .
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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