The Asia Pacific flooring market size was estimated at USD 209.04 billion in 2019. It is expected to expand at a compound annual growth rate (CAGR) of 4.0%, in terms of revenue, from 2020 to 2027. Rising demand for aesthetically pleasing, durable, and easy to maintain products such as vinyl flooring and ceramic tiles is expected to drive the growth over the forecast period. The market is competitive and dynamic on account of the significant presence of manufacturers and associated businesses. Divestments, investments, and geographic expansion are the major strategies adopted by various major players to strengthen their market presence. However, fluctuations in prices of raw material are expected to emerge as a key restraining factor for the players.
China contributed the largest revenue share in 2019 and accounted for over 36% of the market on account of the construction industry's upward trend. Growing investments in residential and commercial construction and renovation activities are expected to drive the market in China. China is well flourished with the presence of multinational manufacturers and the availability of a skilled workforce and raw materials.
The penetration of multinational brands backed by favorable trade policies contributes to the growth of the commercial sector in Asia Pacific. The consequent rise in the construction of shopping malls, offices, lodging spaces, and other utility spaces across the region is likely to propel the demand for ceramic tiles.
The construction industry is also expected to be driven by an increase in spending on affordable housing development. Governments of countries such as Indonesia and India actively provide subsidies on land and construction costs and reduce the red tape in planning and approval processes. These initiatives are positively impacting the overall construction industry in the region.
Asia Pacific construction industry is anticipated to witness growth at an accelerated pace over the forecast period. However, short- to medium-term factors such as the U.S.-China trade war, tighter access to credit, and elevated prices of commercial and residential properties are expected to restrain construction activities in the region.
The ceramic tiles segment led the Asia Pacific flooring market and accounted for over 43% of the revenue share in 2019. Ceramic tiles are among the top-rated options available in the market. These tiles have low porosity and are resistant to fungus, bacteria, humidity, and stains. These factors make them easy to maintain, and the tiles are considered a long-term solution for residential and commercial applications.
The vinyl sheet and tiles segment is projected to attain a significant market share over the forecast period because of its ease of maintenance and durability. The products are highly resistant to water and are preferred for application in moisture-prone areas such as a bathroom, kitchen, and laundry room.
The products include vinyl sheets, vinyl tiles, luxury vinyl tiles, ceramic tiles, wood and laminate floorings, and carpets available in various colors, textures, and shapes. The rising number of constructions in residential and non-commercial segments is anticipated to drive the demand over the horizon.
The availability of different textures, patterns, colors, and sizes also offers consumers more choices when choosing a product. The product's cost plays a crucial role in helping consumers choose from a wide range of products. Fluctuating raw materials prices are expected to hamper the production cost of the products they are used in.
The residential application led the market with a revenue share of around 60% in 2019 and is expected to witness a significant CAGR of over 4.0% from 2020 to 2027, attributed to the rise in demand for multi-family and single-family homes. Increasing constructions for multi-family dwellings in the region is anticipated to boost products' demand over the forecast period.
The products catered in the region include carpet floorings, wood and laminate flooring, vinyl sheets, luxury vinyl tiles, linoleum, ceramic tiles, etc. Various flooring products such as vinyl sheets and tiles are widely used in applications, including offices, educational buildings, retail spaces, government offices, airports, hotels, restaurants, hospitals, clinics, and factories.
The market is primarily driven by the demand for ceramic and vinyl flooring products for residential and commercial structures. Significant availability of raw materials, such as ceramic, natural stone, and others, has created a stronghold in the market. Moreover, increasing new constructions and renovation activities of old buildings have surged the demand for products in the region.
The demand for flooring products in the region aligns with the growth of the construction sector, which includes renovation and new construction activities. Increasing industrial operations in the area, especially in India and China, supported by population expansion, has led to the increased building construction activities, thereby driving the demand.
China held the largest market share and accounted for over 36% of the overall revenue in 2019 due to increased demand from non-residential and residential applications. The market is segmented into Australia, New Zealand, Hong Kong, China, Taiwan, South Korea, Japan, India, Sri Lanka, Singapore, Malaysia, Indonesia, Thailand, Philippines, and Vietnam.
The market in China is well flourished with multinational manufacturers, industrial development, and the availability of raw materials and a skilled workforce. The products, including carpets, broadlooms, vinyl, ceramics, hardwood, laminates, are manufactured and imported from other countries in China.
Vietnam is estimated to register the fastest CAGR of 5.7% from 2020 to 2027 owing to government initiatives taken to develop the transportation and commercial sectors coupled with advancements in its financial status. Moreover, the Socio-Economic Development Plan (SEDP) and the Seventh Five-year Plan have supported the country's construction industry growth.
The manufacturers are likely to establish their sales and distribution offices in India, China, and Indonesia to provide doorstep services. Industrial development in these countries is also expected to witness a rise due to consumers' increasing disposable income, allowing them to choose from a wider choice of solutions.
The market is characterized by healthy competition based on prominent vinyl flooring manufacturers serving significant countries across the region. These prominent manufacturers compete based on product quality and prices to increase their residential and commercial flooring applications.
Players focus on achieving optimum business growth and a strong market position by adopting various strategies, including joint ventures, integration by acquisitions, production capacity expansions, and promotion of crucial product brands, new product developments, and significant investments in research & development activities. Some prominent players operating in the Asia Pacific flooring market include:
Karndean Design Flooring
Armstrong Flooring, Inc.
Carpet One Australasia Pty. Ltd.
Kajaria Ceramics Limited
Toli Corporation
Shaw Industries Group, Inc.
RAK Ceramics
Atlas Concorde S.P.A.
Others
Report Attribute |
Details |
Market size value in 2020 |
USD 206.71 billion |
Revenue forecast in 2027 |
USD 285.86 billion |
Growth Rate |
CAGR of 4.0% from 2020 to 2027 |
Base year for estimation |
2019 |
Historical data |
2016 - 2018 |
Forecast period |
2020 - 2027 |
Quantitative units |
Volume in million sq. m., revenue in USD million, and CAGR from 2020 to 2027 |
Report coverage |
Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, region |
Regional scope |
Asia Pacific |
Country scope |
Australia; New Zealand; Hong Kong; China; Taiwan; South Korea; Japan; India; Sri Lanka; Singapore; Malaysia; Indonesia; Thailand; Philippines; Vietnam |
Key companies profiled |
Karndean Design Flooring; Armstrong Flooring, Inc; Carpet One Australasia Pty. Ltd.; Kajaria Ceramics Limited; Toli Corporation |
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the Asia Pacific flooring market report based on product, application, and region:
Product Outlook (Volume, Million Sq. m.; Revenue, USD Million, 2016 - 2027)
Ceramic Tiles
Vinyl Sheets & Floor Tiles
Luxury Vinyl Tiles
Wood & Laminate Flooring
Carpet Flooring
Others
Application Outlook (Volume, Million Sq. m.; Revenue, USD Million, 2016 - 2027)
Residential
Non-residential
Offices
Education
Retail
Government
Hospitality
Healthcare
Industrial
Others
Regional Outlook (Volume, Million Sq. m.; Revenue, USD Million, 2016 - 2027)
Asia Pacific
Australia
New Zealand
Hong Kong
China
Taiwan
South Korea
Japan
India
Sri Lanka
Singapore
Malaysia
Indonesia
Thailand
Philippines
Vietnam
b. The Asia Pacific flooring market size was estimated at USD 209.04 billion in 2019 and is expected to reach USD 206.7 billion in 2020.
b. Asia Pacific flooring market was estimated at USD 209.04 billion in 2019 and is expected to reach USD 285.86 billion by 2027, with a CAGR of 4.0% over the forecast period.
b. Ceramic Tiles segment dominated the Asia Pacific flooring market with a share of over 43.0% in 2019, owing to its properties such as low porosity resistance to fungus, bacteria, humidity, & stains, and rise in demand from the non-residential sector.
b. Some of the key players operating in the Asia Pacific flooring market include Karndean Design Flooring, Armstrong Flooring, Inc., Carpet One Australasia Pty. Ltd., Kajaria Ceramics Limited, Toli Corporation, Shaw Industries Group, Inc., and others.
b. The key factors that are driving the Asia Pacific flooring market include a positive outlook toward the overall construction industry in the region, rising demand for aesthetically pleasing, durable, and easy to maintain flooring products such as vinyl flooring and ceramic tiles.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
"The quality of research they have done for us has been excellent."
The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.