The Global Resilient Flooring Market is forecast to reach USD 59.43 Billion by 2027, according to a new report by Reports and Data. The rising construction industry is likely to fuel the growth of the market. It is also expected that a major increase in commercial and residential construction will boost demand for resilient flooring in the next few years. Rapid urbanization has generated a wave of renovation and remodeling activities, increasing demand in the flooring industry. Along with growing investments in the construction industry, the rise in infrastructure to keep up with lifestyle changes contributes to increased demands. Product innovation and customization are just a few parameters which drive market growth.
During the past few years, the development of creative floor covering technologies and changing developments in building solutions and floor design has been crucial in industrial growth. There is also an expectation of increased government spending on infrastructure growth to further boost the global economy.
The unpredictable raw material expense represents near-headache. With another recession looming and rising global trade war, the raw material's fluctuating price has become a problem for the industry, making demand and supply unpredictable. This hinders not only the producers but also the entire industry due to the increase in the price of the finished product. High risk of cutting due to low-pressure points such as table legs restricts this market's growth. The presence of toxic chemicals such as phthalates and high sensitivity to hot items also acts as a market restraint.
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Market Overview:
As a result of steady revenue growth over the past few years, the manufacturing and construction industry is expected to achieve a robust annual revenue growth rate between 2021 and 2028. In addition to the rapidly growing construction industry, rapid urbanization and industrialization, and technological advancements in manufacturing techniques, this can also be attributed to these factors. Green construction and energy efficient buildings have become increasingly popular in recent years as awareness of environmental impact and carbon emissions has increased. Over the forecast period, key factors are expected to boost global market growth, including the rapid growth of global populations, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovation and reconstruction activities, and an increase in eco-friendly construction activities. Other factors that will contribute to market growth in the future include an increase in disposable income, government schemes, and investments by private organizations.
Some of the Leading Market Players Are Listed Below:
- Mohawk Industries, Inc.,
- Tarkett S.A.,
- Forbo Flooring,
- Shaw Industries, Inc.,
- Mannington Mills, Inc.,
- Gerflow,
- Beaulieu,
- Nora System,
- Armstrong World Industries Inc.,
- DLW Flooring
Purchase Premium Report: @ https://www.reportsanddata.com/report-pricing/3100
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, RD investments, and joint ventures to gain robust footing in the market.
Market Segmentation:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Spontaneous Reporting
- Luxury Vinyl Tiles
- Vinyl sheet Floor tiles
- Linoleum
- Cork
- Rubber
Application Outlook (Revenue, USD Billion; 2017-2027)
- Residential
- Commercial
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Retail Distribution Channel
- Wholesale Distribution Business Trend
The Global Resilient Flooring Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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