The soft covering flooring market is expected to exceed USD 152.5 billion by 2020, growing at a CAGR of about 5.2% from 2014 to 2020 owing to increasing population in metropolitan cities with people migrating from rural areas to urban cities coupled with changing consumer lifestyles. Soft coverings which possess dust-binding features include carpet tiles, rugs, and broadlooms. In addition to providing heat insulation & comfort, they also reduce noise reflections inside rooms.
Demand for these flooring solutions is expected to increase owing to the safety covering they provide and aesthetic appearance of offices, carpet tiles, home decors and rugs. Growing utilization of numerous designs of rugs and first-class carpets, owing to increasing number of customers and their buying power, is expected to have a positive impact on the industry. The revival of the economic situation worldwide has led to the growth of the construction industry and is likely to stimulate substantial demand for the product over the forecast period.
Full research report on soft covering flooring market analysis: http://www.grandviewresearch.com/industry-analysis/soft-covering-flooring-market
Increasing capital gains and infrastructural investment are expected to drive demand for soft covering flooring over the coming years. Better research methodologies and manufacturing processes are estimated to fuel demand.
In 2013, new residential and commercial construction constituted to nearly 70.0% of the application segment in the overall share. Need for better workplaces and offices that constitute the non-residential segment coupled with increasing employment opportunities are expected to drive growth in this market. office. Growing expenditure owing to an inclination towards better furnishings such as rugs & carpets and spending on commercial real estate are major driving factors for growth. Hospitality and travel also play a vital role in propelling demand.
Request for sample of this research report: http://www.grandviewresearch.com/industry-analysis/soft-covering-flooring-market/request
Carpet tiles, area rugs, and broadlooms constitute the product segment. Carpet tiles emerged as the dominant application and captured approximately 70.0% of overall share. Manufacturers have been trying to gain prominence and product differentiation in the market by developing numerous variants and designs in carpet tile thus expanding their network. North America accounted for over 35% of the market share in 2013 dominating the global market.
New developments including sustainable and eco-friendly carpets have fuelled demand in US and Europe. India and China are expected to be the fastest-growing economies over the forecast period on account of growing need for home decor, renovation operations, and enhancements. Increasing capital investment in emerging economies is expected to be a key factor for the product growth.
View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/green-building-materials
Key players in soft covering flooring market include AstroTurf LLC, Abbey Carpet Company Inc., Beaulieu Group LLC, Cargill Inc., Bentley Mills Inc., Dixie Group Inc., Mannington Mills Inc., Engineered Floors LLC, Mohawk Industries Inc., Royalty Carpet Mills Inc., rinseo SA and Milliken & Company.
Acquisition & merger and partnership are the key strategies being adopted by the major players to enter into new markets, thus increasing their revenue. For instance, the takeover of Desso by Tarkett, The ALJ Regional Holdings acquired Floors N More LLC and the acquisition of Atlas Carpet Mills by the Dixie Group.
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-soft-covering-flooring-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Web: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: sales@grandviewresearch.com
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: http://www.grandviewresearch.com/industry-analysis/soft-covering-flooring-market