Taiwan Floor Covering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Due to supply chain disruptions, social distancing measures and low consumer confidence caused by the COVID-19 pandemic, sales in the Floor Covering Stores industry have declined substantially over the first half of 2020. However, as many consumers worked from home in 2020, spending on floor coverings grew in the second half of 2020, partly offsetting the decline in the first half of 2020 in Taiwan.

The infrastructural development of residential and commercial structures in Taiwan have motivated several manufacturers of floor coatings to increase their production capacities in this region. Also the need for better type of flooring which is durable has been increased. Commercial areas prefer to use Soft Covering Type of material which includes Carpets and Rugs. Even in the residential areas, people are now looking towards floor covering material in order to maintain an aesthetic view and durability.

Enforcement of government regulations regarding disposal of waste and carbon emission have significant influence on the broadloom and carpet tile manufacturing industry. As a result, tile manufacturers are working on a product recycle process with more focus on a reverse distribution model to promote return of carpet tiles. The latest constructed residential spaces are prefering to use Floor Covering Materials and these type of residential areas are the target audience for the Floor Covering companies.

Key Market Trends

High Demand for Soft Covering Material

In Taiwan , in terms of revenue generated from Carpets and Rugs have generated significantly higher revenue than other segments. The major contribution of this revenue is from commercial places like Banquet Halls, Ceremonies etc. Also majority of the Floor Covering companies are focussing now mostly on the production of Soft Covering Material like Carpets and Rugs. Even the household owners are now moving towards Soft Covering as they give a decorative look to the houses and provide an overall lavish touch up. In the recent years, people in urban regions of Taiwan have been prefering Soft Covering Material for Floor Covering compared to previous years. And this trend is expected to continue in the coming years which would fuel the growth of Floor Covering Market in Taiwan.

Higher Requirement for Flooring in Commercial Segment

There has been a gradual increase in the usage of Floor Covering in Commercial places such as Banquets,Meetings etc. This has led to the increase in demand for Soft Coverings such as Carpets and Rugs. Also the rapid urbanization and subsequently, establishment of large number of Commercial places is another factor fueling for the high demand for Floor Coverings in such places. Floor Coverings in Commercial places in order to attract customers and give an aesthetic sense to them has become common these days in major urban areas in Taiwan. Also during family parties and occasions, Floor Coverings have become quite a trend. All these factors are accounting for the rise in usage of Floor Covering in the Commercial Sector.

Competitive Landscape

The report includes an overview of the top players in the Floor Covering Market operating across Taiwan. The market is highly fragmented with a large number of companies sharing a significant portion of the market. Also the Taiwan Floor Covering Market is highly competitive becuase the flooring used is of different material and majority of the companies focus on only a certain type of Floor Covering Material.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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