The global resilient flooring market size is expected to reach USD 58.11billion by 2027, exhibiting a CAGR of 9.3% during the forecast period. The growing emphasis on green infrastructure is expected to spur opportunities for the market, states Fortune Business Insights, in a report, titled “Resilient Flooring Market Size, Share & Industry Analysis, By Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum, and Others), By Application (Residential, Commercial and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 29.62 billion in 2019.
The coronavirus incident has caused enormous financial loss to several industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
The report on resilient flooring market incorporates:
- All-Inclusivedescription of the market
- Valuable data about prominent players
- Insight into the market dynamic
- Recent industry developments
- coronavirus Impact
- Leading regions in the market
Introduction of Sustainable Flooring Solutions by Eminent Players to Aid Expansion
The rising government initiatives for sustainable flooring solutions are expected to have a tremendous impact on the global market in the forthcoming years. The launch of innovative green flooring solutions for customers will create lucrative opportunities for the market. For instance, in March 2020,Inteface Inc. a major leader in commercial flooring, carpet tiles, and resilient flooring announced the launch of a new Luxury Vinyl Tile (LVT) under the brand ‘Brushed Line.’ The company claims that these products are made from 39% pre-consumer recycled material. Moreover, companies such as Level Set, Studio Set, Steady Stride, and Criterion are also emphasizing on recycled-materials to produce green products for the market, in turn prompting competition with other players. Also, the growing consumer demand for green and sustainable products will encourage the healthy growth of the market in the foreseeable future.
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Halt on Construction Projects to Constraint Growth During Coronavirus
The lockdown imposed by governments has disrupted the construction industry. This has led to the unavailability of workers to carry on construction projects. Moreover, the restriction on transportation has consequently affected the movement of raw materials, in turn impacting the market. As per the U.S. Chamber Study, around 87% contractors reported delays in their construction work amid COVID-19 pandemic in the U.S. Nevertheless, new government guidelines to resume construction work and other activities will elevate market possibilities in COVID-19
The market in Asia Pacific is expected to dominate the global market during the forecast period. The growth in the region is attributed to industrialization and urbanization in developing nations. The increasing infrastructural developments in China, India, Vietnam is expected to spur demand for vinyl floorings, therefore aiding expansion. The surging private investment in retail, housing, commercial, and hospitality sectors will stimulate growth in the region. China’s commercial application accounted for 56.3% in 2019. The demand for new office space in the commercial sector of India will have a tremendous impact on the market in Asia Pacific. According to the India Brand Equity Foundation, the real estate sector in India is projected to reach a value of US$ 1 trillion by 2030.
January 17, 2019: Gerflor Group launched a new collection of Luxury Vinyl Tile & Planks named Creation 55 & Creation 30. These products have various installation methods such as interlocking, looselay, glue down and others
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The Report Lists the Main Companies in the Resilient Flooring Market:
- Mohawk Industries (USA)
- Tarkett S.A. (France)
- Shaw Industries Group Inc. (USA)
- Armstrong World Industries Inc. (USA)
- Mannington Mills, Inc. (USA)
- Forbo Flooring (The Netherlands)
- LG HAUSYS (South Korea)
- Gerflor Group (Germany)
- Interface Inc. (USA)
- Beaulieu International Group (Belgium)
- Novalis Innovative Flooring (China)
- Polyflor Ltd. (UK)
- Congoleum (USA)
- NOX Corporation (South Korea)
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