Flooring Market Is Estimated To Be US$ 699.28 Billion By 2030 With A CAGR Of 6.1% -By PMI

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Flooring market - PMI

The report“Flooring Market, By Material, By End User, - Trends, Analysis and Forecast till 2029

COVINA , CALIFORNIA, UNITED STATES, March 14, 2023 /einpresswire.com / -- According to the latest research study, the demand of flooring market accounted for US$ 388.43 billion in 2020 and is estimated to be US$ 699.28 billion by 2030 and is anticipated to register a CAGR of 6.1%”

The flooring market is a sector of the construction and home improvement industry that specializes in the production and sale of various types of flooring materials. These materials are used to cover the floors of residential, commercial, and industrial buildings. Flooring materials can be made from a wide range of materials, including wood, laminate, tile, carpet, vinyl, and concrete. Each type of flooring material has its own unique properties, advantages, and disadvantages, and is suited to different types of spaces and applications.
The flooring market is highly competitive, with many different companies offering a variety of flooring materials and installation services. Consumers can choose from a wide range of styles, colors, and patterns to find the perfect flooring solution for their needs and preferences. In recent years, there has been a growing interest in sustainable and eco-friendly flooring options, such as bamboo and cork, which are renewable and biodegradable. The flooring market has responded to this trend by offering more environmentally friendly options to consumers.

Report Metrics:

Report Attribute - Details
Market Size - US$ 388.43 billion
CAGR – 6.1%
Base Year - 2020
Forecast Period – 2020 - 2030

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Key Highlights:

.In 2021, for its discerning consumers, Span Floors has created a 3-in-1 laminate flooring series. The faux wood look of lower-quality laminate floors has been a problem. This notion is partially correct, with lower-quality imports from Asian countries competing solely on price.
.In 2021, Welspun Flooring Limited has announced the opening of its first experience centre in Hyderabad's Chandanvelly production facility.

Analyst View:

Increased government spending on infrastructure construction is likely to boost demand for flooring. Because of the increased need for comfort and privacy as a result of noisier surroundings, the flooring market has seen an increase in demand for insulation, as a well-insulated floor creates a better sound environment. As a result, there is an increasing demand for insulation, which is driving market expansion. Consumer preferences for aesthetically better designs, textures, and colours, as well as low-maintenance and easy-to-install floorings, are expected to propel market growth.

Key Market Insights from the report:

Flooring Market accounted for US$ 388.43 billion in 2020 and is estimated to be US$ 699.28 billion by 2030 and is anticipated to register a CAGR of 6.1%. The global flooring market report segments the market on the basis of material, end user, and region.

.Based on Material, Global Flooring Market is segmented into Carpets & Rugs, Resilient (Vinyl, Cork, Linoleum, Rubber, Resin), and Non-resilient (Ceramic, Stone, Wood, Laminate).
.Based on End-User, Global Flooring Market is segmented into Residential, and Non-residential.
.By Region, the Global Flooring Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Company Profiles:

.Shaw Industries
.Mohawk Industries
.Interface, Inc.
.Mannington Mills
.Armstrong world industries
.Forbo Holding
.Gerflor
.Beaulieu International
.TOLI Corporation
.Milliken & Company.

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