In 2023, the market for resilient flooring will be worth $8.55 billion. By the end of 2033, the market for resilient flooring is expected to be worth US$ 14.74 billion, growing gradually at a CAGR of 5.6%.
The rising demand for resilient flooring is ascribed to its advantages over competing options, including impact and scratch resistance, odour and waterproofing, and durability. Over the next ten years, it is anticipated that the rapid expansion of some ultramodern workspaces would increase growth potential for well-known producers of resilient flooring.
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Rapid urbanization and industrialization has resulted into immediate and high requirement for resilient flooring across industrial areas, IT parks, and housing projects. Substantially increasing number of home improvement & renovation activities on account of changing consumer trends as well as lifestyles has meant that resilient flooring is witnessing high demand in the residential sector. In addition, fiberglass flooring has been gaining high momentum recently, which can be attributed to its properties namely, excellent durability and lightweight. Superior insulation properties of fiberglass because of presence of reinforced materials has further complemented its demand. A large number of technological advancements as well as product developments have been made by manufacturers of resilient flooring products, in order to enhance the performance of their products. Environment—friendly flooring that include rubber, cork, hardwood, bamboo, glass, and linoleum are witnessing significant demand in residential and non-residential spaces, thereby influencing growth of the global market for resilient flooring in the near future.
Key Future Prospects
1- Europe will continue to be the largest market for resilient flooring, followed by Asia-Pacific excluding Japan (APEJ) and North America. Over 40% share of the market is projected to be accounted by sales of resilient flooring in Europe by 2026-end. APEJ and North America are collectively poised to account for approximately half share of the market during the forecast period.
2- The market for resilient flooring is anticipated to exhibit the fastest expansion in APEJ and North America through 2026. The market in Europe and Latin America is projected to ride on an above-average CAGR through 2026.
3- Based on material type, vinyl is pegged to account for lion’s share of the market, with sales forecast to exceed 1,200 Mn sq. meters by 2026-end. Linoleum is also slated to account for a major market share, with sales exhibiting a CAGR slightly higher than that of vinyl through 2026. Although cork is expected to account for the smallest market share, its sales are expected to exhibit the fastest expansion through 2026.
4- On the basis of construction activity, renovation will account for over three fourth market share throughout the forecast period. Sales of resilient flooring for use in renovation activities are expected to exceed 1,500 Mn sq. meters by 2026-end. Sales for use in new construction activities will reflect a relatively faster expansion through 2026.
5- Resilient flooring is expected to seek the highest demand from non-residential end-users during the forecast period, with sales accounting for over two-third market share by 2026-end.
Prominent Key players of the Resilient Flooring market survey report:
- Mannington Mills Inc.
- Tarkett S.A.
- Mohawk Group
- Berkshire Hathway Inc.
- Congoleum Corporation
- Beaulieu International Group N.V.
- Armstrong Flooring Inc.
- Forbo Holding AG
- Burke Industries Inc.
- Karndean International Limited
Key Segments Covered
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By Material:
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Vinyl
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Linoleum
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Cork
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Rubber
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By Construction Activity:
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Renovation
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New Construction
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By End User:
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Residential
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Non-residential
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By Region:
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North America
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Europe
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Asia Pacific
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Latin America
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Middle East & Africa
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Questionnaire answered in the Resilient Flooring Market report include:
- How the market for Resilient Flooring has grown?
- What is the present and future outlook of the global Resilient Flooring on the basis of region?
- What are the challenges and opportunities for the Resilient Flooring?
- Why the consumption of Resilient Flooring highest in region?
- In which year segment is expected to overtake segment?
The report covers following Resilient Flooring Market insights and assessment that are helpful for all participants involved in the Resilient Flooring market:
- Data on recently introduced regulations and their impact on key industries and on demand in Resilient Flooring
- Latest industry Analysis on Resilient Flooring Market, with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Resilient Flooring Market and changing consumer preferences in major industries.
- Changing Resilient Flooring demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Resilient Flooring major players
- Resilient Flooring Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Resilient Flooring demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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