According to a recent report published by Allied Market Research, titled, “Indoor Flooring Market by Type, Construction Type, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the indoor flooring market size accounted for $142.4 billion in 2019, and is expected to reach $189.5 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027. In 2019, the ceramic tiles segment dominated the indoor flooring market, followed by the carpet flooring segment. The indoor flooring market includes revenue generated by flooring products used for building floors for new construction and renovation of residential, commercial and industrial infrastructures. These products are available in wide range of material, shape, size and color.
Low cost production of advanced indoor flooring products and easy installation process has led to rise in demand especially in developing countries. In addition, large scale new construction in developing countries and renovation in developed countries is another factor that is driving the indoor flooring market. However, global trade war has directly affected the cost of raw products as well as finished products. In addition, outbreak of COVID-19 has led to halt in construction and manufacturing activates across the globe. Halt in logistics services has led to halt in the packaging industry, which, in turn, hinders growth of the indoor flooring market. However, industries are gradually back on track and vaccine discovery would lead to recovery of the indoor flooring market by mid-2021. Further, increase in awareness of green building will boost the sale of sustainable indoor flooring products indoor flooring products in the market during the forecast period.
The indoor flooring market is segmented into type, construction type, end user, and region. On the basis of type, the market is divided into ceramic tiles, carpet, vinyl, linoleum & rubber, wood & laminate and others. Depending on construction type, it is classified into new construction and renovation. By end user, it is segregated into residential and commercial & industrial. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key Findings Of The Study
- By type, the ceramic tiles segment was the highest revenue contributor in 2019.
- By construction type, the new construction segment generated the highest revenue in 2019.
- By end user, the residential segment generated the highest revenue in 2019.
The major players profiled in the indoor flooring market include Armstrong Flooring, Inc., Beaulieu International Group, Ecore International, Forbo International SA, Interface, Inc., Mats Inc., Mohawk Industries, Inc., Shaw Industries Group, Inc., Tarkett and Toli Corporation.