The indoor flooring market size was valued at $133,288.0 million in 2021, and is projected to reach $226,305.0 million by 2031, registering a CAGR of 5.4% from 2022 to 2031. Indoor flooring materials are building materials used to construct floors in residential, commercial, and industrial buildings. Indoor flooring is installed during the construction of a new building or the renovation of an existing structure. Indoor flooring improves the infrastructure's interior. Indoor flooring is offered in a wide range of materials, colors, and shapes.
The fast growth of the population, combined with the construction of new business centers, such as offices, factories, warehouses, sports complexes, hospitality, and healthcare, has prompted the deployment of compact and efficient decor system. The restoration business continues to benefit from a strong housing market, which includes rise in home building, sales, and equity. Moreover, the rising expenditure by governments and private construction companies in remodeling and repairing of houses has created demands for indoor flooring products and hence such a factor will drive the market growth.
Moreover, according to a Harvard Joint Centre for housing studies article published in January 2021, the growth of house remodeling and repair expenditures has increased from 3.5% in 2020 to 3.8% in 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA). In addition, various governments are investing in the residential sector in response to the rise in population and improved living conditions. Several incentive schemes for efficient residential structures and refurbishment were modified and relaunched at the start of 2021 to help fulfil these goals. As a result of the increase in population, these expenditures in the building sector are expected to enhance the use of indoor flooring, resulting in market growth.
The market is segmented on the basis of material type, construction type, end user, and region. On the basis of type, the market is divided into ceramic tiles, carpet, vinyl, linoleum, & rubber, wood laminate, and others. On the basis of construction type, the market is divided into new construction and renovation. On the basis of end user, the market is divided into residential and industrial & commercial. Region-wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The key players that operating in the Indoor Flooring Market are Armstrong Flooring, Inc., Beaulieu International Group, Ecore International, Forbo International SA, Interface, Inc., Mats Inc., Mohawk Industries, Inc., Shaw Industries Group, Inc., Tarkett, and Toli Corporation.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key Market Segments between 2020 and 2031.
- Extensive analysis of the indoor flooring market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The indoor flooring market forecast analysis from 2022 to 2031 is included in the report.
- The key players within the indoor flooring market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the indoor flooring industry.
Key Market Segments
By Type
- Wood Laminate
- Others
- Ceramic Tiles
- Carpet
- Vinyl, Linoleum Rubber
By Construction Type
- New Construction
- Renovation
By End-User
- Residential
- Commercial Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Russia
- U.K.
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Armstrong Flooring, Inc.
- Beaulieu International Group
- Ecore International
- Forbo International SA
- Interface, Inc.
- Mats Inc.
- Mohawk Industries, Inc.
- Shaw Industries Group, Inc.
- Tarkett
- Toli Corporation
Table of Contents
Executive Summary
According to this report titled, 'Indoor Flooring Market,' the indoor flooring market size was valued at $133.3 billion in 2021, and is estimated to reach $226.3 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
Any layer of finish material laid over a floor structure to give permanent covering is referred to as floor covering. Vinyl sheets and tiles, carpets and rugs, laminates, natural stone, wood, ceramic tiles, and rubber are all common flooring materials. The market is expected to develop due to the rise in demand for flooring materials in the growing residential sector. Furthermore, the flooring business is predicted to benefit from the rise in demand for hard flooring, which has appealing qualities such as being more usable, easier to use, and installed in remodeling and restoration of residential and commercial projects. In addition, the rise in government investments in the approaching construction sector expansion is expected to boost the indoor flooring market forecast period.
Various governments are taking initiatives to enhance the living standard of citizens. For instance, the Government of Canada launched a 30 million rebate scheme in June 2020, which is expected to assist to save a considerable amount of money on building and remodeling projects. Hence, this investment is expected to provide lucrative growth in the indoor flooring market. Hence, these investments are expected to drive the indoor flooring market growth.
Asia-Pacific accounted for around 47.1% of the global market share and dominated the global market in terms of revenue in 2021, owing to the expansion of residential and commercial sectors and it is expected to register the highest CAGR during the forecast period. This is due to an increase in R&D investments in developing countries and a rise in government investments day-by-day in new construction and renovation programs.
Key findings of the Study
- The report provides an extensive analysis of the current and emerging global indoor flooring market trends and dynamics.
- Depending on material type, ceramic tiles have dominated the global market, in terms of revenue in 2021 and the segment is projected to grow at a significant CAGR during the indoor flooring market forecast period.
- By construction type, the new construction segment has registered the highest revenue in 2021.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the global indoor flooring market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the indoor flooring industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market. In-depth global indoor flooring market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- Armstrong Flooring, Inc.
- Beaulieu International Group
- Ecore International
- Forbo International SA
- Interface, Inc.
- Mats Inc.
- Mohawk Industries, Inc.
- Shaw Industries Group, Inc.
- Tarkett
- Toli Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 240 |
| Published | May 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 133288 million |
| Forecasted Market Value ( USD | $ 226305 million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
