The global resilient flooring market is experiencing immense growth and is anticipated to expand in the forecast period. Resilient floor is made of different materials such as rubber, fiberglass, vinyl, cork, and linoleum. These materials exhibit elastic properties that give the floor some degree of bounce or elasticity. Resilient flooring is available in the form of slabs, planks, or tiles. The resilient flooring industry has evolved over the years, and new types of flooring have also been launched, such as luxury vinyl tiles. These types of flooring are considered the most durable flooring and are suitable for both residential and commercial spaces. Resilient flooring is available in a wide variety of types and designs in the market.
Market Scope and Structure Analysis
Resilient flooring is the term used for the type of flooring that sits between hard floors-like stone and soft floors-like carpet. Resilient floor coverings are made from materials that are inherently resilient to a large extent. It is expected that the demand for resilient flooring will increase significantly in the coming period due to the advantages, such as impact resistance, durability, scratch resistance, odor resistance, waterproofing, and ease of cleaning.
Covid-19 Impact Analysis
- The coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the Chinese economy are anticipated to reduce the global import and export of goods throughout the globe.
- Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
- Construction materials manufacturing companies located in China are the major sufferers from the virus outbreak, owing to the lockdown and unavailability of logistics in the region.
- The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuance of production of construction materials.
- Decreased consumer demand and consumption have led to a reduction and slowdown in sales of construction materials all over the globe over the course of the current economic year.
- Therefore, the hardwood flooring market was negatively affected in 2020.
Top Impacting Factors
The market growth is attributed to the drastic expansion in the infrastructure industry due to increase in need for housing projects, IT parks, and other similar large-scale projects. Government laws restrict the use of hazardous flooring material and require manufacturers to meet Leadership in Energy and Environmental Design (LEED) certification for Volatile organic compound (VOC) emissions. Rise in demand for resilient flooring is being driven by increased innovation projects in commercial spaces around the world.
Market Trends
- Resilient flooring is usually a mixture of fillers, binders, and paint. Fill materials may include synthetic fibers, ground wood, or limestone, and the material holding the mixture together is either asphalt or resin.
- A resilient flooring system is inherently dense and non-absorbent, ensuring a supple surface that is comfortable to walk on. In addition, these floor coverings guarantee less maintenance.
Key Benefits of the Report
- This study presents the analytical depiction of the resilient flooring market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities, along with a detailed analysis of the resilient flooring market.
- Quantitative analysis of the current market highlights the resilient flooring market growth scenario during the forecast period.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis of resilient flooring market based on competitive intensity and how the competition will take shape in coming years.
Resilient Flooring Market, by Product Type Report Highlights
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