The global fiberglass flooring market size was USD 531 million in 2015 and is expected to witness immense growth on account of its rising usage in residential, commercial, and industrial applications. Construction growth in emerging countries such as China and India owing to rapid industrialization, population growth, and urbanization is likely to spur growth.
Fiberglass is used as a backing material in vinyl flooring products including luxury vinyl tiles, vinyl composite tiles, and vinyl sheets. Fiberglass exhibits superior properties as compared to felt backing including non-allergen and longer lifespan, making it a viable option, which is anticipated to increase its share tremendously over the forecast period.
U.S. fiberglass flooring market revenue, by application, 2014 - 2025 (USD Million)
Rapid expansion and capacity addition by various industries including automobile manufacturing, telecom, and semiconductor coupled with the growing number of office buildings in the U.S. will spur the demand for fiberglass floorings. Moreover, the terminal expansion of the Los Angeles Airport, Philadelphia Airport, and Newark Liberty Airport is likely to create substantial growth opportunities for the market over the next nine years.
The key driver for the industry is the growth of the construction sector. Factors such as growing population, rising per capita income coupled with the superior properties of fiberglass including the ease of installation, and excellent aesthetic value are expected to aid in the market expansion. Moreover, increasing demand for vinyl flooring with fiberglass backing is expected to augment its demand over the projected period.
Epoxy resins, polyester resins along with glass fiber are the primary raw materials used for manufacturing fiberglass. These raw materials are derived from carbon compounds and petroleum. Fluctuating prices of raw materials along with difficulty in sourcing them are expected to serve as a major challenge for the flooring manufacturers over the forecast period and also restrict growth for fiberglass.
Commercial construction was the dominant segment and accounted for 52.1% of the overall revenue share in 2015. The growing requirement for office buildings, retail stores, shopping malls, hotels, cafes, hospitals, theme parks, and leisure centers will drive the demand for fiberglass floorings in the commercial construction sector over the forecast period.
Global fiberglass flooring market volume share, by application, 2015 (%)
Residential construction is projected to witness substantial gains owing to the rising need for houses in emerging countries including China, India, Brazil, and South Africa. In 2014, the South African government announced plans to build 1.5 million homes to meet the housing deficit in the country by 2019. This initiative is expected to stimulate market expansion over the upcoming years.
Asia Pacific is expected to show high gains on account of the growing usage of the product in the construction sector. Increasing demand for industrial parks, manufacturing & design centers for the industrial sector; malls, hotels, theme parks, and leisure centers for the commercial sector; hospitals and government and municipal offices for the utilities sector; and buildings & houses for the residential sector; has resulted in the growth of the construction industry in the region.
The growing middle-class population and rapid economic development coupled with the rising disposable incomes mainly in developing countries including China, Thailand, Singapore, India, Vietnam, South Korea, and Indonesia are key factors expected to influence the fiberglass flooring market growth positively. Moreover, the presence of major construction companies such as Leighton Asia, DLF, Unitech, and NITTOC Construction will further aid in market growth.
Latin America is anticipated to witness strong revenue growth at a CAGR of 8.4% from 2016 to 2025 in light of rising demand for residential buildings. In addition, the development of the “Bogota Urban Renewal” megaproject to establish Bogota as the financial, technological, and industrial capital of Latin America is expected to be a major factor influencing growth in the region.
The key industry players include IVC Group (Mohawk Industries), Mannington Mills, Inc., Shaw Floors, NOX Corporation, Milliken, Armstrong World Industries, Gerflor, and Tarkett. Industry participants are focusing on partnerships for sustaining and strengthening their positions in the global market.
In April 2016, IVC Group (Mohawk Industries) announced plans to invest approximately USD 100 million in its Dalton plant to increase the manufacturing capacity to cater to the growing product demand. In addition, investment is also expected to create about 200 new jobs in the region.
In April 2014, Tarkett acquired Poland-based Gamrat S.A., a manufacturer, and distributor of high-performance vinyl-based floorings. This acquisition was expected to increase Tarkett’s market size in vinyl-based floorings in countries including Poland over the upcoming years.
Attribute |
Details |
Base year for market estimation |
2015 |
Actual estimates/Historic data |
2014 - 2015 |
Forecast period |
2016 - 2025 |
Market representation |
Market volume in Thousand Square Meters, Market revenue in USD Million & CAGR from 2016 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Latin America & MEA |
Country scope |
U.S., Germany, U.K., France, Italy, China, India, Brazil, South Africa |
Report coverage |
Volume & revenue forecast, competitive landscape, growth factors and trends |
15% free customization scope(equivalent to 5 analyst working days) |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the market trends in each of the sub-markets from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the fiberglass flooring market on the basis of application, and region:
Application Outlook (Volume, Thousand Square Meters; Revenue, USD Thousand; 2014 - 2025)
Residential
Commercial
Industrial
Regional Outlook (Volume, Thousand Square Meters; Revenue, USD Thousand; 2014 - 2025)
North America
The U.S.
Europe
Germany
The U.K.
France
Italy
Asia Pacific
China
India
Latin America
Brazil
Middle East & Africa
South Africa
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.