We take a look at Floor Focus’ annual report to give you insights into the American flooring product categories that are gaining and losing market share.
According to Market Insights, in 2015 the American floorcovering industry only grew by 3.6%. This was similar to 2014, which started out slowly and only began to show signs of growth by September. But which flooring products did do well last year?
According to Floor Focus’ residential and commercial surveys, WPC (wood polymer composite), also known as rigid-core LVT or rigid vinyl tile, received the most mentions. This type of composite flooring product is classified as a hybrid LVT and the interest in WPC has helped to boost the resilient flooring category to 11.6% in 2015 from 10.8% in 2014. Over half (56%) of resilient flooring sales were from imports.
Laminate flooring had a tough time maintaining its market share against the LVT category and this category went from 5.4% to 4.9% last year. While domestic shipments in America rose by 5% in the laminate category, imports fell 16%.
The hardwood flooring category grew by 6.6% in 2015. Engineered hardwood overtook solid hardwood last year and now accounts for over half (55%) of hardwood sales in America. One of the reasons why this category is doing so well is because of the increased interest in longer boards, which hardwood flooring excels in.
The ceramic floor tile category grew by 7.3%, with a total revenue of USD2.78 billion with 61% of ceramic floor tile sales being from imports. In 2015, the ceramic tile category’s share climbed to 13.5% from 13.1% in 2014.
One category that had a relatively low growth rate was the area rug category, which grew by 3% last year. However, over the past few years, innovations in machine-made technologies has led to an increased market share in this category.
Full thanks and acknowledgement are given to www.floordaily.net for the information contained in this article.