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Key highlights of the report include:
Market Overview (2017-2027)
Forecast CAGR (2022-2027): 6.50%
Increased public investment in infrastructure construction is expected to boost the demand for flooring. Due to the increased need for comfort and privacy resulting from a noisier environment, the flooring industry has seen an increase in the demand for insulation, as a well-insulated floor represents a significantly improved ambience. Hence, the need for insulation is growing, which is fueling the growth of the market. Due to growing consumer confidence and increased growth in single-family home construction, flooring sales in the United States have increased. The development of the flooring industry is fueled by the proliferation of residential and commercial construction activities in the country, as well as expanding urbanization and industrialization. The country is also witnessing an increase in internet shopping which will also boost the flooring industry. Additionally, expanding renovation activities, especially in urbanized areas, are driving the demand for flooring construction materials, supporting the growth of the market. These factors are expected to drive the flooring market in the United States during the forecast period.
Industry definition and major segments
The process of providing a clean, smooth and level surface for the inhabitants of the building is called flooring. The floor should be strong and sturdy enough to support the load above it while adding to the visual appeal of the interior design. Good soil can increase the rental value and sale price of homes and offices.
By Product Type, the market is split into:
• Resilient flooring
• Non-resilient flooring
• Ceramic tiles
• Wood and laminate
• Rugs and carpets
By End Use, the market is split into:
By region, the industry is classified into:
• North America
• Latin America
• The Middle East and Africa
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The growing need for adaptable, non-resilient flooring solutions for use in the residential, commercial and industrial sectors is driven by increased infrastructure activity. Demographic growth and changes in lifestyles encourage individuals to engage in the restoration and renovation of infrastructure. In addition, flooring adds monetary value to the structure. These factors have contributed to the growth of the flooring market in the United States. Increase in R&D investments by major market players to develop and customize flooring products, as well as to make them more cost-effective and reliable, is expected to drive the growth of the industry throughout the forecast period. . The development of the e-commerce industry is expected to increase the demand for flooring materials delivered directly to the application site.
Flooring sales in the United States have increased due to consumer sentiment and transformative changes in residential home development. The biggest challenge for the sector is fluctuating raw material costs. As millennials begin buying homes, developer acquisition opportunities have continued to flourish. Investment in residential flooring rose by double digit percentages due to an increase in spending on household renovation projects. The sector is further propelled by the advantages of vinyl flooring, such as cost effectiveness, ease of installation and maintenance, and moisture resistance. The presence of a strict regulatory framework on manufacturing, consumption, implementation, and recycling is also expected to boost the market growth. These are some of the main drivers that propel the industry forward.
Main market players
The major market players are Mohawk Industries, Inc., Shaw Industries Group, Inc., Armstrong Flooring, Inc., Engineered Floor, LLC., Mannington Mills, Inc., The Dixie Group, Inc., Tarkett Group, among others. . The report covers market shares, capacities, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.