Flooring Market Size, Share & Trends Report

Flooring Market Size, Share & Trends Analysis Report By Product (Soft Coverings, Non-resilient, Resilient, Seamless), By Application (Residential, Industrial, Commercial), By Region (MEA, APAC), And Segment Forecasts, 2021 - 2028

  • Published Date: Feb, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-238-9
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 143

Report Overview

The global flooring market size was valued at USD 388.24 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028. Increasing government spending on infrastructural development is expected to play an important role in augmenting the demand for flooring. The rising need for comfort and privacy owing to noisier surroundings has spurred the demand for insulation across the flooring market as a well-insulated floor creates an improved sound environment. This has resulted in the growing demand for insulation, thereby supporting market growth. Moreover, consumer preferences for aesthetically improved designs, textures, & colors and low-maintenance & easy-to-install floorings are anticipated to ascend the market growth.

The U.S. flooring market size, by product, 2017 - 2028 (USD Billion)

Strong industrial and economic development coupled with population expansion is likely to have a positive impact on the product demand over the forecast period. In addition, the development of private-sector construction companies in India, China, and the UAE is anticipated to aid the construction spending, thereby benefiting the overall market growth.

The development of hassle-free installation techniques, availability of innovative construction solutions, and the rising demand for environmentally sustainable products are anticipated to fuel the industry growth. The presence of a stringent regulatory framework on the production, usage, implementation, and recycling is also likely to have a positive impact on the market growth.

Increasing investments and continuous R&D in flooring products have led to the introduction of flooring materials with enhanced durability and strength. Moreover, customization options, in terms of color, texture, and finishing, offered by the manufacturers have contributed to higher product demand, thereby augmenting the market growth.

Product Insights

The non-resilient flooring segment led the market and accounted for more than 61% share of the global revenue in 2020 due to a rise in the number of residential and commercial construction activities across the globe. The segment will retain its leading position throughout the forecast period on account of the high demand for these products due to their excellent water resistance and durability.

The resilient flooring segment is estimated to register the fastest CAGR from 2021 to 2028 due to the high demand for these materials in commercial applications, such as offices, gyms, fitness centers, hospitality buildings, and others. These products are cost-efficient and durable and are the right fit for use in high-traffic residential and commercial areas on account of their ease of maintenance and noise-reduction capabilities. Moreover, resilient floorings are dense, non-absorbent in nature, and comfortable to walk on.

Ceramic and natural stone are popular materials for construction applications. Seamless flooring is applied in the industrial environment, wherein, a large floor area is covered with resins and concrete materials. Maintenance and installation of seamless flooring are less expensive as compared to its counterparts.

Application Insights

The residential application segment led the market and accounted for more than 54% share of the global revenue in 2020. High disposable income levels and rise in the number of single-family houses in developing economies are among the key factors responsible for the segment growth.

Global flooring market share, by application, 2020 (%)

Favorable growth of the housing sector in emerging markets including South Africa, Turkey, India, China, and the Middle Eastern countries, on account of the easy availability of home loans, is expected to have a positive impact on the segment growth over the forecast period. In addition, advancements in installation services are likely to propel the industry's growth.

Rising demand for highly durable and cost-efficient flooring for use in high-traffic commercial areas is projected to boost the commercial application segment growth over the forecast period. The development of new products and easy installation techniques are also driving the commercial segment. Expansion of modern offices and workspaces, growing renovation activities in commercial spaces, and rapid industrialization in developing economies are further expected to propel the segment growth.

Regional Insights

Asia Pacific dominated the market and accounted for over 42% share of global revenue in 2020 and will maintain its dominant position over the forecast period. This growth is attributed to the increased demand for flooring from emerging economies, such as China and India. The government reforms for the development of the construction sector in India contributed significantly to the regional market growth. Housing for All programs by the government of India is anticipated to support the product demand.

Moreover, changing consumer preferences and demand for product variation and better designs are likely to boost the regional market growth over the forecast period. The demand for flooring in North America is anticipated to increase over the forecast period. The well-established construction industry in the U.S. and Canada coupled with rising demand for single-family houses in the region is likely to provide growth opportunities to the market. Europe is anticipated to register a significant growth rate during the forecast years owing to the presence of prominent manufacturers in the region coupled with technological developments.

Key Companies & Market Share Insights

Innovations and new trends in floor designs and construction solutions have driven the overall market. The market is highly competitive with numerous companies offering a variety of products for residential, commercial, and industrial applications. Several manufacturers are engaged in research & development activities to introduce sustainable flooring materials. Moreover, companies are focusing on extending their geographical presence and product portfolios to sustain the competitive environment. Some prominent players in the global flooring market include:

  • Mohawk Industries, Inc.

  • Tarkett, S.A.

  • AFI Licensing

  • Shaw Industries, Inc.

  • Interface, Inc.

  • Gerflor

  • Mannington Mills, Inc.

  • Polyflor

Flooring Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 409.03 billion

Revenue forecast in 2028

USD 621.54 billion

Growth rate

CAGR of 6.1% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Volume in million square meters, revenue in USD million/billion, and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; CSA; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; Spain; Italy; Russia; China; Japan; India; Australia; Brazil; Argentina; Saudi Arabia; UAE

Key companies profiled

Mohawk Industries, Inc.; Tarkett, S.A.; AFI Licensing; Shaw Industries, Inc.; Interface, Inc.; Gerflor; Mannington Mills, Inc.; Polyflor

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global flooring market report on the basis of product, application, and region:

  • Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

    • Soft Covering

    • Resilient

    • Non-resilient

    • Seamless

  • Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

    • Residential

    • Commercial

    • Industrial

  • Flooring Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • Spain

      • Italy

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

    • Central & South America (CSA)

      • Brazil

      • Argentina

    • Middle East & Africa (MEA)

      • Saudi Arabia

      • UAE

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