Construction Flooring Chemical Market Overview:
Global Construction Flooring Chemical Market revenue was valued at $2,614 million in 2016, and is expected to reach $3,787 million by 2023, supported by a CAGR of 5.3% during the forecast period 2017 to 2023. Flooring products are the most important building materials with a wide product portfolio that includes soft covering such as carpets & rugs; resilient flooring such as cork, wood, rubber, vinyl, asphalt, and linoleum; non-resilient such as ceramic tile, clay tile, concrete tile, terrazzo stone, and brick are extensively used for residential, commercial, infrastructure, and other applications. The construction flooring chemical market is expected to expand significantly, owing to strong growth of commercial and industrial sectors and increase in home improvement and renovation projects.
The global construction flooring chemical market is segmented based on type, application, and geography. Based on type, it is classified into soft covering, resilient, non-resilient, and others. Based on application, it is categorized into residential, industrial/commercial, infrastructure, and repair structure. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Construction Flooring Chemical Market Segmentation
In the global construction flooring chemical market, Asia-Pacific is anticipated to grow at the highest CAGR of 5.8% from 2017 to 2023. Emerging countries, such as China and India, offer lucrative opportunities to key market players, owing to the growing urbanization and industrialization. Thus, significantly large population base, increase in investment, and high disposable income have led to the rise in construction activities, which is expected to drive the construction flooring chemical market in this region.
Top Investment Pocket
The residential segment is the most lucrative application segment for construction flooring chemical market. Flooring provides noise-reducing effect, dust-binding, insulation, waterproofing, low-maintenance durable floor, and pleasing aesthetics. In 2016, it accounted for the largest share in the market and is expected, to grow at a CAGR of 5.0%. Rise in focus on home improvement and renovation project activities, and high disposable income boost the growth of construction flooring chemical market in the residential segment. Whereas, commercial segment was the second most attractive market in 2016.
Construction Flooring Chemical Market Top Investment Pockets, By Application
Demand for soft covering flooring, which includes carpets & rugs, was estimated to be the highest in the global construction flooring chemical market and accounted for the largest share in 2016. It offers several benefits, such as, noise-reducing effect, dust-binding, insulation provides warmth & comfort, and pleasing aesthetics. The segment was followed by non-resilient flooring, which encompasses ceramic tile, clay tile, concrete tile, terrazzo stone, and brick used for designing, floor & wall fittings, and protection from rain & moisture, high impacts, and chemical spoilage.
The emergence of new markets in the LAMEA region has boosted construction schemes and elevated the living conditions of the population. Rise in urbanization and increase in living standards of people in Brazil are responsible for the growth in residential structures. As per the Brazilian Institute of Geography and Statistics, in 2012, the construction industry in Brazil accounted for about $109 billion; this growth is expected to drive the construction flooring chemicals market in Brazil.
Brazil Construction Flooring Chemical Market, 2016-2023 ($Million)
Some of the key players operating in the global construction flooring chemical market market are Armstrong World Industries, Inc. Forbo, Mohawk Industries, Inc., Shaw Industries, Congoleum Corporation, Gerflor, Interface Incorporation, James Halstead Plc., The Dixie Group, and Toli Corporation.
Other players (not profiled in the report) includes Anderson Hardwood Floors, Asian Granito, Fired Earth, Interface Global, Karndean, Milliken, Mannington Mills, and Tarket.
Key Benefits of Construction Flooring Chemical Market:
- This report provides the quantitative analysis of the current market and estimations, trends, and dynamics from 2015 to 2023, which assists in identifying the prevailing market opportunities.
- The study covers competitive landscape and value chain analysis, which helps to understand the competitive environment globally.
- An in-depth analysis of current R&D within market is provided that helps in understanding the behavior of the market.
- Extensive analysis of segment by product type helps in understanding the current flooring materials and the variants that are expected to gain prominence.
- Extensive analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
Construction Flooring Chemical Market Report Highlights
Key Market Players
INTERFACE INCORPORATION, JAMES HALSTEAD PLC., MOHAWK INDUSTRIES, INC., FORBO, CONGOLEUM CORPORATION, THE DIXIE GROUP, ARMSTRONG WORLD INDUSTRIES, INC., SHAW INDUSTRIES, GERFLOR, TOLI CORPORATION
Flooring construction chemical offers noise-reducing effect; dust-binding; insulation; design; floor & wall fittings; resistance to moisture, high impact, and chemical spoilage. The need for better infrastructure, owing to rise in investment and high disposable income, fuels the demand for global construction flooring chemical market. Moreover, growth in demand for flooring material from construction industry further drives the market growth.
Rapid urbanization leads to the establishment of numerous industries, housing, and commercial projects in India, China, Brazil, and Middle East have a positive impact on market growth. This trend leads to potential growth opportunities for construction flooring chemical market during the forecast period.