Global Flooring Industry
New Study On “2019-2025 Report on Flooring Market by Player, Region, Type, Application, Sales Channel” Added to Wise Guy Reports Database
Flooring commodities can be defined as the construction materials that are used to cover floor areas of infrastructures such as buildings. A wide range of materials is used to make floor products such as wood, carpets, rugs, stone, lamination and many more. The flooring products are available in the market in a wide range of prices so that customers can make their choices as per their requirements. Flooring is extremely important in the construction industry. In the recent years, the flooring market has been performing very well all across the globe. In the year 2017, the industry was valued at USD 324.26 billion. It has been estimated that by the year 2023, the industry will reach almost USD 447.74 billion at the CAGR of almost 5.7 percent.
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A critical assessment of the flooring market has been conducted to get a deep insight into its performance during the forecasted period. A number of analytical tools have been used to identify and analyze the key market opportunities, threats, and dynamics that exist in the flooring industry. The competitive landscape has been carefully evaluated and the company profiles of the key players that operate in the industry have been studied.
Chief market divisions
The flooring market can be segmented on the basis of the geographical regions, material type, and application. Some of the main geographical areas where the industry has its presence include North America, Asia Pacific, Middle East, and Africa, Europe, and Latin America. In the United States of America, Russia, France, India, Japan, South Africa, and Brazil, the market has a strong presence. On the basis of the type of materials, the main categories of the flooring market include wood, tiles, carpets and rugs, resilient and others. Based on application, the market can be categorized into residential, commercial and others. In each of the market segments, unique factors come into play that molds the overall performance and growth prospects of the industry. A thorough assessment of the market has been carried out at the regional level and global level to capture how the industry could perform during the forecasted period.
Market players
The flooring market is considered to be an attractive industry. A wide range of players from all across the globe operate in it and intensify the level of competition. Some of the main industry players that operate in it include Armstrong World Industries Inc., Forbo, Gerflor, Mohawk Industries, Inc., The Dexile Group and many more. The profiles of all of the key players have been critically analyzed as they could have a major influence on the performance of the market during the forecasted period. Numerous factors arise at the micro-level and macro-level that impact the performance of the key market players in the flooring industry.
Latest news
Mohawk Industries, Inc. was one of the major players in the flooring market. But in the present times, the business undertaking is seriously struggling to survive and sustain in the competitive market setting. In the industry, businesses are implementing unique strategies to sustain in the market such as acquiring other firms. But the declining profitability of the flooring business could impact the industry in the long run.
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