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Flooring Market To Witness Huge Growth Due To Rising Demand For Insulation By 2020: Grand View Research, Inc.

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Flooring Market To Witness Huge Growth Due To Rising Demand For Insulation By 2020: Grand View Research, Inc.

October 15
19:00 2018

Grand View Research, Inc. – Market Research And Consulting.
The global flooring market is expected to reach USD 326.38 billion by 2020, according to study by Grand View Research, Inc. Growing focus on innovative flooring that is durable in nature is expected to drive market growth through the forecast period.

According to a report by Grand View Research, Inc., global flooring market is anticipated to value USD 326.38 billion by 2020. Growing requirement for aesthetic designs in commercial and residential buildings is anticipated to propel demand for flooring. It is likely to offer various floor designs, which are expected to be cost-effective and eco-friendly.

Changing consumer lifestyle and rising demand for insulation are anticipated to propel growth of market. Increasing availability of innovative construction solutions that are expected to be durable and require low maintenance can fuel growth of market. Continual technological developments in traditional flooring techniques to make environment friendly and cost effective flooring materials can fuel market growth. Growing focus on health related concerns regarding various flooring solutions can augment growth of market.

However, major determinant for success of flooring solutions is expected to be consumer awareness and willingness of using the product. Besides, perceived complexity with regards to installation of flooring solutions, they can be viewed as luxurious and expensive. This, in turn can pose challenge to growth of market over next few years. In addition, growing concerns over environmental impact can significantly affect market growth.

Full Research Report On Flooring Market Analysis: www.grandviewresearch.com/industry-analysis/flooring-market-analysis

Global flooring market, by product, (Billion Square Feet), 2012 – 2020

Global flooring market, by product, (Billion Square Feet), 2012 - 2020

The flooring market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into resilient flooring, non-resilient flooring, seamless flooring, and soft coverings. In 2013, soft coverings segment dominated the market and accounted for 50% of overall market share. These coverings are likely to provide various benefits including dust-binding, noise-reducing effect, and are likely to be good insulators.

On the contrary, resilient flooring is expected to be mixture of color, binders, and fillers. Types of resilient flooring can include rubber, vinyl, wood, asphalt, cork, and linoleum. These types are expected to be durable, waterproof, cost-effective, and low maintenance in nature. The segment is predicted to witness significant growth during the forecast period attributed to benefits offered including easy installation, cost effectiveness, and low maintenance. Increasing demand for antimicrobial and antibacterial flooring can fuel growth of segment.

Moreover, non-resilient flooring encompasses ceramic tile, concrete tile, terrazzo stone, and brick. These floors can hold up under many conditions, and can require dusting and mopping. 

Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/green-building-materials

Based on application, the market can be classified into commercial, industrial, and residential. Residential segment is projected to witness substantial growth during the forecast period. Growing demand across construction sector and rising number of home improvement and renovation projects can augment growth of segment. In addition, rising demand for flooring solutions across residential segment owing to changing consumer lifestyle and increased consumer disposable income can fuel growth.

Commercial applications can include hospitality, healthcare, corporate, retail, sports, and other sectors. Rising demand in construction sector can drive growth of market over next few years. Industrial applications can include manufacturing plants, refineries, hangars, and aviation hangers.

Regional segmentation includes Europe, North America, Asia Pacific, and rest of the world (ROW). Asia Pacific is predicted to witness significant growth on account of developing infrastructure facilities and surging real-estate industry. In addition, growing demand for non-residential and residential building spaces attributed to urbanization and population growth can fuel growth of market in the region. In 2013, this region accounted for 40% of overall market growth.

Europe is predicted to witness substantial increase in market demand during the forecast period. This can be attributed to availability of easy installation techniques and construction solutions.

Some of the leading companies offering flooring are Mohawk; Gerflor; Mannington Mills Inc.; Armstrong; and Shaw Floors. Raw material suppliers, distributors, and manufacturers are expected to play essential role in market value chain. The market is predicted to be significantly consolidated. Technological innovation is expected to be focal point for market development during the forecast period. In addition, developing vertically integrated infrastructure is predicted to be success factor for growth of market. Moreover, acquisitions and mergers coupled with meeting consumer preferences through product differentiation are expected to be key strategies adopted by major market players over next few years.

Grand View Research has segmented the global flooring market on the basis of product, application and region:

Flooring Product Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 – 2020)

  • Soft Coverings

  • Resilient Flooring

  • Non-Resilient Flooring

  • Seamless Flooring

Flooring Application Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 – 2020)

  • Residential

  • Commercial

  • Industrial

Flooring Regional Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 – 2020)

  • North America

  • Europe

  • Asia Pacific

  • RoW

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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Website: www.grandviewresearch.com/industry-analysis/flooring-market-analysis

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