Fiberglass Flooring Market Size, Share & Trends Analysis Report By Application (Residential, Commercial, Industrial), By Region (North America, Europe, APAC, LATAM, MEA), & Segment Forecasts, 2018 - 2025

Industry Insights

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.

Application Insights

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.

Regional Insights

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.

Fiberglass Flooring Market Share Insights

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.

Report Scope

Segments Covered in the Report

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