The global soft covering flooring market is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global soft covering flooring market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2025 are presented in the report. Leading drivers and restraints operating on the global soft covering flooring market are examined in the report. The impact of these major drivers and restraints on the global soft covering flooring market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global soft covering flooring market are also profiled in the research report. The competitive landscape of the global soft covering flooring market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global soft covering flooring market.
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The global soft covering flooring market has witnessed tremendous growth in the last few years, owing to the growing demand for green building materials coupled with an increase in the growth of the commercial replacement market. Manufacturers that specialize in producing soft covering flooring also offer a wide range of lightweight and recycled raw materials in the flooring industry. Recycled materials are likely to become a major trend in the global soft covering flooring market over the forecast period, as environmental conservation is likely to become a major agenda for all industries in the coming years. Commercial as well as residential users are becoming aware about the availability of recycled materials in soft covering flooring, leading to many soft covering flooring manufacturers employing recycled materials to make the most of this trend.
Moreover, the rapid expansion of the tourism and hospitality industries, coupled with the increasing construction of commercial and residential buildings in developing countries such as China, India, and South Korea, is further expected to drive the demand for soft covering flooring. The growing research and development activities by the major manufacturers for developing innovative designs and services is projected to propel the demand from the soft covering flooring market. However, fluctuating raw materials prices are likely to hinder the growth of the global soft covering flooring market over the forecast period.
Competitive Leaderboard:
Leading players in the global soft covering flooring market include Interface Inc., Trinseo SA, Mohawk Industries, Milliken & Company, Mannington Mills Inc., Engineered Floors LLC, The Dixie Group Inc., Bentley Mills Inc., Cargill Inc., Beaulieu International Group, and Abbey Carpet & Floor.
Segmentation:
The global soft covering flooring market is segmented on the basis of product, application, and region.
By product, the global soft covering flooring market is segmented into carpet tiles nad broadloom. The broadloom segment is expected to dominate the global soft covering flooring market over the forecast period. Broadloom soft flooring coverings are the most popular type of coverings among consumers, leading to their widespread demand. The growing demand from establishments such as healthcare institutions, educational institutes, and hospitality institutions for broadloom soft covering flooring is likely to be a major driver for the global soft covering flooring market. The growing hospitality and healthcare sectors in emerging regions are likely to be a major driver for the soft covering flooring market over the forecast period.
By application, the global soft covering flooring market is segmented into residential and commercial. The residential segment accounts for the largest share in the global soft covering flooring market.
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Regional Analysis:
North America held the largest share in the global soft covering flooring market in 2018 and is likely to remain the leading consumer over the forecast period. However, Asia Pacific is likely to emerge as a major regional market for soft covering flooring over the forecast period on the back of the growing urbanization in countries such as China, India, Malaysia, and Indonesia.
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