Flooring Market size is forecast to reach US$ 252.0 billion by 2026, after growing at a CAGR of 6.1% during 2021-2026.

HYDERABAD, TELANGANA, INDIA, October 27, 2022 /EINPresswire.com/ — Flooring Market size is forecast to reach US$ 252.0 billion by 2026, after growing at a CAGR of 6.1% during 2021-2026. Growth of the flooring market is mainly attributed to its wide-ranging applications across various residential and construction sectors. Growing demand for flooring material in the rising residential sector is anticipated to drive the growth of the market. Additionally, the growing demand for hard flooring, which has alluring properties such as being more useful, easy to use, and install in remodeling and renovation projects, is expected to boost the flooring industry. Furthermore, increasing government investments in the upcoming construction industry growth in the coming years is estimated to upsurge the flooring industry over the forecast period.

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Key takeaways:

This IndustryARC report on the Flooring Market highlights the following areas –

1. Asia-Pacific region dominated the flooring market owing to a change in government emphasis on infrastructure growth. The region’s favorable laws, along with its growing population, make it very appealing to the flooring industry.

2. Increasing demand for hard flooring such as vinyl sheet & tiles due to added value qualities including scratch and slip resistance, waterproofness, and eco-friendliness, growing at a faster pace than demand for hardwood or manufactured wood products is anticipated to drive the market growth.

3. Rising usage of ceramic tiles due to the durability, stain resistance, water resistance, flexibility, and esthetic design, in the residential and commercial construction sector will raise the demand for hard flooring in the upcoming years.

4. Moreover, the building industry in several countries is expected to continue to rebound after many years of stagnation, boosting demand for flooring goods. The main factors that influence flooring materials market positively are their resistance to high temperatures and hazardous chemicals.

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Segmental Analysis:

1. Commercial segment held the largest revenue share of 74.4% in the flooring market in 2020 and is anticipated to grow at a CAGR of 6.4% during the forecast period 2021-2026. High quality floors improve the interior design of a space which is increasingly important for commercial buildings.

2. Hard flooring held the largest share of 73.6% by revenue in the flooring market in 2020. Hard flooring includes concrete or cement, ceramic tile, glass tiles, and natural stone products that are used primarily in commercial, residential, and institutional applications.

3. Asia-Pacific region dominated the flooring market in terms of revenue with a share of 41% in 2020 and is projected to dominate the market during the forecast period (2021-2026). In this region, flooring is commonly installed in various residential and commercial buildings as they require long-lasting, sanitary flooring in order to meet high-quality, 24-hour requirements.

Competitive landscape:

The top 5 players in the Flooring industry are:

1. Mohawk Industries Inc
2. Shaw Industries Group Inc
3. Tarkett S.A
4. Armstrong Flooring
5. Interface Inc

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Related Reports:

A. Commercial Flooring Market
https://www.industryarc.com/Research/Commercial-Flooring-Market-Research-503476

B. Industrial Flooring Market
https://www.industryarc.com/Research/Industrial-Flooring-Market-Research-503158

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