Resilient Flooring Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights
ResilientFlooring Market will exhibit a CAGR of 9.3% during the forecast period, and USD 58.11billion by 2027, and the Market value as per 2019 was USD 29.62billion.
FortuneBusiness Insights™ in a new report, titled, “Resilient FlooringMarket Size, Share & COVID-19 Impact Analysis, By Product Type (LuxuryVinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum, and Others), ByApplication (Residential, Commercial and Others), and Regional Forecast,2020-2027.”
Resilient Flooring Market Drivers and Restraint:
Rapid Adoption in Commercial and Residential Construction to DriveMarket
Residentialand commercial construction contractors are installing different kinds ofresilient floorings owing to their advantages. These products provide a smoothsurface and are easy to clean & maintain. Also, the ability to resistmoisture makes them suitable for application in the bathroom or kitchen.Besides, the growing importance of the Leadership in Energy & EnvironmentDesign (LEED) rating system in the construction industry is paving the way forinnovative interior designs. Thus, most of the vinyl floor coverings, which aretraded with LEED ratings are gaining importance among green buildingcontractors around the world.
RESTRAINING FACTORS
Wide Availability of Other Flooring Products toRestrict Market
Substituteto resilient floor coverings such as carpets, area rugs, laminates, ceramictiles, stone tiles are widely marketed and used in building and construction.According to the Floor Covering Weekly Statistical Report, the U.S. floorcovering market is dominated by non-resilient floor coverings and holds morethan 75% value share in 2018. Therefore, the wide acceptance of resilientflooring substitute products is a key challenge for the growth of the market.
List of Key Players Covered in the Resilient Flooring Market Report:
- 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)
To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/resilient-flooring-market-102945
Some of the key industry developments in the ResilientFlooring Market Include:
- January 25, 2018: Tarkett S.A. planned to invest 70 million euros over the next three years to expand the production capacity of luxury vinyl tiles in Europe and North America. The company planned to invest 50 million euros in the Alabama production facility, North America, and rest in European production facilities in Poland & Luxemburg.
