Industry Insights
The global flooring market has been inundated by new styling trends and technology advancements. Changing consumer lifestyles, growing demand for insulation and surging demand in the construction industry are expected to be the key market drivers. New trends, innovations and availability of several designs have significantly driven flooring market growth. Presently, end-users are resorting to more cost-effective and eco-friendly materials, which is also expected to favorably impact flooring market growth. These eco-friendly flooring materials include reclaimed hardwood, rubber, bamboo, glass, linoleum and cork. Availability of durable construction solutions that require low maintenance is also expected spur the demand for flooring solutions. Consumer awareness and their willingness to use the product is expected to be a major determinant for the success of flooring market. These solutions are often perceived as expensive and complex in terms of installation, which may pose a challenge to market growth.
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Textile flooring mainly includes carpets, which are often treated with toxic chemicals for mothproofing and to repel soil and moisture causing several health and environmental issues. These aforementioned factors may also hinder the flooring market growth. Further, the industry is characterized by intense competition owing to large number of industry players providing wide range of flooring solutions across industrial, commercial and residential application segments. Technological proliferation and innovations are expected to provide avenues for flooring market growth over the forecast period.
Product Insights
Product segments include soft coverings, seamless flooring resilient flooring and non-resilient flooring. Soft coverings...