INDIA FLOOR COVERING MARKET - GROWTH, TRENDS, AND FORECASTS (2020 - 2025)

The Indian floor covering industry has been passing through an exciting period, due to the influx of newer materials, technology, and specialized machinery. Project scales, especially with respect to industrial and commercial flooring, have increased dramatically in recent years. In India, the growth trends of the floor covering industry have been similar to those of other segments in the construction industry. Increasing emphasis on quality and adherence to strict deadlines, while at the same time sticking to the budget, are factors that are driving the trends in the flooring industry. The customer needs quality, functionality, and long-term performance, all at competitive prices. Thus, floors that are easy to clean and maintain, and offer excellent wear resistance are in demand. The healthy growth rate maintained by industrialization and the buoyant urban infrastructure scenario are factors that may help the growth of the market. Similarly, the increase in metro rail projects and the subsequent demand for quality flooring at metro stations are the emerging applications for the market. One of the trends in the Indian market has been the fact that the commercial flooring segment has been keeping up to the pace of growth of the industrial flooring market. The growth of the market is expected to increase in the near future. There are several policy initiatives that have the potential to propel the growth of the Indian floor covering market. India is emerging as a key global market for flooring products.

Key Market Trends

Ceramic Tiles Segment

In India, ceramic tiles have become an integral part of home improvement. The Indian tile industry, despite an overall slowdown of the economy, continues to grow at a healthy growth rate. The key drivers for the ceramic tiles segment in India are the boom in the housing sector and the government policies supporting the growth of the housing sector. The boom in the retail sector of the Indian economy has also influenced the demand for higher-end products. The Indian economy has significantly influenced the growth of the Indian ceramic tile industry. The industry also enjoys the unique distinction of being highly indigenous, with an abundance of raw materials, technical skills, and infrastructural facilities, despite being fairly capital intensive. As a foreign exchange earner or a global player, the Indian tile industry has captured the attention of the world in the ceramic tiles segment.

Industrialization is Helping the Market to Grow

Flooring is one area in the construction industry that has been witnessing rapid changes over the past two decades. The advent of several new technologies and the increasing use of specialized machinery have meant that the field has changed beyond recognition, especially with reference to the industrial and commercial flooring segments. The industrial and commercial flooring segments have been maintaining a healthy pace of growth in the recent few years, with India emerging as a key market for new technologies. The growth of the flooring industry in India is based on the fact that commercial flooring has been maintaining a corresponding growth curve to that of the industrial flooring market.

Competitive Landscape

The report covers major international players operating in the Indian floor covering market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

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