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2022
Granite Flooring Market

Granite Flooring Market by Grade (Level 1, Level 2, and Level 3), End-user Industry (Residential, Commercial, Institutional, and Hospitality), and Business Type (Original Equipment Manufacturer (OEM) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2030

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Jul 2022 | 92 Views
   
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COVID-19

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The granite flooring market is anticipated to register substantial growth throughout the forecast period. Flooring is necessary to cover the rough and uneven surface of the concrete slab, elevate the architectural appearance of the space, avoid leakage of water, and maintain the structural integrity of the slab. Granites are used as a flooring solution owing to their properties such as toughness and durability. Furthermore, granites are available in a wide range of colors and patterns, which makes it a vital component of interior design. They are available in various price ranges. For instance, granite from China is cost efficient, whereas granite from India, Italy, and Brazil is higher grade granite. Furthermore, granites add a smooth finish to the floor and increase the overall aesthetical appearance of the space. Key players are determined to make durable products with better colors and patterns to stay competitive in the market.

Description

Granite is a light-colored igneous rock that has large grains that are visible with the naked eye. Granites are formed by slow crystallization of magma beneath the Earth's surface. Granite is mainly composed of quartz and feldspar and consists of minor amounts of mica, amphiboles, and a few other minerals. Pink, white, variations of grey, and black are some of the common colors of granite. In addition, granite is heat -resistant, scratch-proof, and offers better skid resistance. 

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

 Forecast Unit

  Value (USD)

  Segments Covered

  Grade, End-user Industry, Business Type, and Region

  Companies Covered

 

Polycor Inc., Forbo Flooring India Private Limited, Mumal Granites, HMG Stones, Elegant Granites & Granite Industries Ltd., Loudoun Granite & Granite, Marcolini Marmi SPA, Stoneware Enterprises, Inc., Namco Co. Srl, Mont Surfaces

 


COVID-19 Impact analysis 

  • COVID-19 pandemic led to shut-down the production of granite floorings, attributed to the lockdown in countries worldwide. This has hampered the growth of industry in the last few months.
  • COVID-19 affected the sales of granite flooring in the first half of 2021 as the demand witnessed a steep decrease due to restrictions on construction activities. Major players in the real estate industry slowed the construction of residential and commercial buildings in the wake of reducing demand because of COVID-19. 
  • The major demand for granite flooring was previously noticed in the U.S., China, the UK, Germany, France, India, and Gulf Cooperation Council (GCC) countries, which are negatively affected by the spread of COVID-19, thereby decreasing the demand.
  • The decrease in income due to COVID-19, directly affected the spending of masses thus, negatively affecting the granite flooring market.
  • The COVID-19 pandemic negatively affected the granite flooring manufacturing units due to the restrictions laid on factory operations. Manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health and safety of the workforce. 
  • Surge in vaccination drives and leniency in the COVID-19 restrictions have revived construction and maintenance activities in residential and commercial buildings which is a positive sign for the granite flooring market’s recovery.  

Top Impacting Factors

Increase in popularity of interior designing, availability of various designs, and surge in spending on home remodeling projects in developing countries has significantly increased the use of granite for flooring in remodeling projects. Furthermore, floors are a vital part of any building as they provide an aesthetic, smooth, and level floor surface, thereby elevating the ambience of the spaces. The availability of granite in a wide range of colors and patterns makes its suitable for use in luxury residential, commercial, and hospitality projects. The fluctuating cost of granite and the uncertainties in the residential real estate market are the restraints to the growth of granite flooring market. Rise in population and urbanization have substantially increased the demand for residential spaces, especially in urban areas. These factors are anticipated to provide lucrative growth opportunities for the granite flooring market. 

Market Trends

  • Major companies in the industry have focused on developing a large portfolio of granite flooring solutions. For instance, Flodeal Private Limited has a large portfolio of granites in various colors and patterns. It provides granite in various sizes, thereby increasing its applications. 
  • The rapid growth of manufacturing industry in countries such as India and China has increased the purchasing power of people, thereby creating a demand for luxury residential projects. Furthermore, the rapid growth of IT industry has increased the use of granite in IT parks and commercial buildings. 

Key Benefits of the Report

  • This study presents the analytical depiction of the granite flooring industry along with the current trends and future estimations to determine the future investment pockets.
  • The report presents detailed analysis of key drivers, restraints, opportunities, and the granite flooring market share.
  • A quantitative analysis highlights the granite flooring market growth scenario from 2020 to 2030.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed granite flooring market analysis based on competitive intensity and how the competition will take shape in coming years.

Key Market Segments

Segments Sub-segments
Grade
  • Level 1
  • Level 2
  • Level 3
End-user Industry
  • Residential
  • Commercial
  • Institutional
  • Hospitality
Business Type
  • Original Equipment Manufacturer (OEM)
  • Aftermarket
Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Argentina
    • GGC
    • South Africa
    • Rest of LAMEA
 
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