Global Resilient Flooring Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 6% from 2020 to 2027, reaching US$ XX Bn.
Global Resilient Flooring Market
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Resilient flooring is made using materials that are essentially elastic and are crucial for the construction industry. It plays an important role in improving the whole atmosphere of a commercial or residential landscape. The global resilient flooring market is driven by the rising construction activities, growing demand for inclusive flooring in commercial residences, and ascend in the number of redesigns and renovating activities. Increasing investment in infrastructure development and the reasonable price of these resilient flooring are also impelling market growth over the forecast period. However, the high risk of cut due to small pressure points such as table legs and other such things are restraining the market growth at the global level. The high sensitivity towards hot items and fluctuation in the cost of raw material is also hampering the market growth in the coming years. The development of the organized retail sector and in the demand from developing countries are likely to create beneficial growth opportunities for the resilient flooring industry. The presence of toxic chemicals like phthalates and heavy metals and rising environmental concerns are the major challenge for the market growth in the near future.
The manufactures are concentrating on the expansion of their product portfolio through product advancement. Many manufacturers have presented products with greater impact and abrasion resistance, improved visual appeal, and shine. Also, the manufacturers have started offering customized products as per the customer’s specific demand is the major trend in the global resilient flooring market.
Based on the application, the resilient flooring market has segmented into residential, commercial, and industrial. The commercial and segment has led the resilient flooring market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Owing to the higher spending on office spaces and other business & institutional constructions and more concentration toward employee comfort. The rising demand for resilient vinyl floorings in commercial spaces on account of high toughness, low on maintenance, cost-efficient, and appropriate for high traffic applications are the factors supporting the segment growth in the market. Reconstruction activities in commercial spaces need the substitution of flooring materials are foreseen to boost the market growth in the coming years.
Geographically, the resilient flooring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Owing to the existence of a large consumer base, low labor costs, and a high level of resources are projected to fuel the construction industry in the Asia Pacific. The robust growth of the construction industry in developing countries like China, India, and South Korea, due to regulatory support for infrastructural development is expected to boost the market growth in the region. North America is expected to grow at the CAGR of XX% during the forecast period owing to developed construction industries and fast infrastructural and industrial advancement combined with supporting full-scale financial factors. In terms of revenue, Europe held the second-largest market share of 37.7% in 2019 thanks to the high demand from residential and non-residential applications.
The objective of the report is to present a comprehensive analysis of the Global Resilient Flooring Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Resilient Flooring Market dynamics, structure by analyzing the market segments and project the Global Resilient Flooring Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Resilient Flooring Market make the report investor’s guide.
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Global Resilient Flooring Market, by Product:
• Luxury vinyl tiles (LVT)
• Vinyl composite tiles (VCT)
• Vinyl sheets
Global Resilient Flooring Market, by Application:
Global Resilient Flooring Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Resilient Flooring Market, Major Players:
• IVC Group
• Mannington Mills, Inc.
• Mohawk Industries
• NOX Corporation
• Shaw Floors
• Milliken & Company
• Amtico International Limited
• Armstrong World Industries, Inc.
• Tarkett S.A.
• Responsive Industries Ltd.
• Interface, INC.
• Lonseal Corporation
• Carpet One Australasia Pty Ltd
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