Flooring market size set to double by 2025

by Darren
flooring market Jnl 5 15

A flooring market report highlights how the market is set to double by 2025, with key elements that contribute to this rapid rise in the construction industry.

In 2013, global construction output was recorded around US$7.5 trillion. The worldwide output of the construction industry is expected to more than double by 2025. Furthermore, implementation of renovation and home improvement projects is also supporting the growth of the global flooring market.

With regard to application, the global flooring market is divided into the residential sector, the industrial sector and the commercial sector. Geographically, the report on the global market for flooring is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW).

The report on the global flooring market is a comprehensive industry analysis with accurate market estimates and forecasts. The report provides a complete research solution along with recommended strategies as well as key developments in the industry, and detailed profiles of the leading companies.

Overview of the global flooring market

The global flooring market will also benefit from the rapid development in the emerging markets of Asia Pacific and Latin America. Asia Pacific held the majority of total demand in 2013 and is anticipated to retain its dominance in the foreseeable future.

China and India are two of the largest markets for flooring. Apart from these East Asian giants, Turkey, Saudi Arabia, Indonesia, Japan, South Korea and the UAE are other major consumers from Asia Pacific and the Middle East. The Western markets of North America and Europe are expected to demonstrate a steady rise in the demand for flooring, though not at a rate as robust as that in Asia Pacific.

The residential sector in the global flooring market held the largest market share in 2013. The soft coverings segment is anticipated to hold a major market share in the coming years. On the other hand, the resilient flooring segment will display substantial growth during the forecast period, as it is more affordable, easy to install, and low on maintenance.

Consumers in the global flooring market prefer hassle-free installation and environmentally sustainable products. Other factors that consumers consider while buying flooring are cost, cleaning and maintenance, durability and comfort. This is the reason for the popularity of bamboo flooring and laminate flooring, which satisfy all these considerations. However, environmental regulations and volatile raw material prices are expected to restrain the growth of the global flooring market.

Major geographies analysed in this research report are Europe, North America, Asia-Pacific and the rest of the world. This report also provides access to decisive data such as market growth drivers; factors limiting market growth; current market trends; market structure; and market projections for the coming years.

Other key highlights of this report include an overview of main market forces propelling and restraining market growth; up-to-date analyses of market trends and technological improvements; pin-point analyses of market competition dynamics that provide a competitive edge; an analysis of major competitor strategies; an array of graphics and SWOT analysis of major industry segments, as well as detailed analyses of industry trends. Also a well-defined technological growth map with an impact analysis is explored along with offers that provide a clear understanding of the competitive landscape and key product segments.

Acknowledgment and thanks go to www.whatech.com for the information contained in this article.

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