The Market for Flooring is to Grow at the Highest Rate in China


Posted June 30, 2017 by Pratik_M

The flooring market is buyer-oriented. It has shown substantial growth due to the rising urbanized population and resurgence of the construction industry in developing economies.

 
The Flooring Market is projected to reach $331.78 Billion by 2020, at a CAGR of 4.8% from 2015 to 2020. The Asia-Pacific region accounted for around 40% of the market share in terms of value, followed by Europe and North America with shares of 23% and 20%, respectively, in 2015. In recent years, the Asia-Pacific region has tremendously progressed in this market, which primarily includes emerging economies such as India and China. The main driving forces in the Asia-Pacific region include growth in spending capacity, rising urbanized population, and increase in industrialization. Improved living standards in developing economies would demand improved sanitation and hygiene requirements. Cities in the Asia-Pacific economies would hold 54% of the world’s urban population, thereby creating the largest workforce in the world. The emerging economies such as India and China have played a vital role in the rising growth rate of the industry.
Growing urbanization in emerging markets such as China, Brazil, Indonesia, Malaysia, and India are expected to boost the spending for vital infrastructure sectors, such as hospitality, health care, transportation, and retail. Increasing residential applications in emerging markets are also expected to drive the growth of the flooring market.
The Asia-Pacific region held the second-largest share in infrastructure investment in 2015. The Chinese market is projected to grow at a rate of 6.7% annually over the next 5 years and will remain above the global average of 4.1%. Construction spending in the Asia-Pacific region is projected to account for a share of 31% in 2015 and is projected to increase to 46% by 2020. The flooring market has been growing in line with the construction industry. With increasing awareness about wastage and recycling, people are opting for recycled flooring material, which has had an impact on the market for flooring products.

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Objective of Report:

• To define, describe, and forecast the Flooring Market by Type, Material, Application and Region
• To provide detailed information regarding major factors influencing the growth of the Flooring Market (drivers, restraints, opportunities, and industry-specific challenges)

Key Player Analysis:
The key players in the market are Mohawk Industries (U.S.), Shaw Industries (U.S.), Armstrong World Industries (U.S.), Tarkett (France), Forbo Corporation (Switzerland), Toli Corporation (Japan), Gerflor (France), The Dixie Group (U.S.), Interface Incorporation (U.S.), Polyflor (U.K.), and Congoleum (U.S.).

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Scope of Report:
This report estimates the market size of the global flooring market in terms of value ($billion) and volume (billion square feet). In this report, the market is broadly segmented based on type, material, application, and region. Market drivers, restraints, challenges, material, and product price trends are discussed in detail. Market share, by all the major players, is discussed in detail for the overall market. This market has grown significantly in the last few years and this trend is expected to continue.

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Issued By Pratik
Country India
Categories Business , Industry
Tags flooring market , flooring market uk , flooring market usa
Last Updated June 30, 2017