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Resilient Flooring Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Resilient Flooring Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 11, 2024 /EINPresswire / -- The global resilient flooring market has been experiencing robust growth in recent years, with its market size increasing from $35.38 billion in 2023 to $37.59 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.3%. This growth is driven by several factors, including the durability and low maintenance of resilient flooring, increased commercial and residential construction activities, the demand for eco-friendly and sustainable options, rapid urbanization, and a surge in renovation and remodeling projects.
Looking ahead, the resilient flooring market is projected to continue its upward trajectory, reaching $48.45 billion by 2028 at a CAGR of 6.5%. The forecasted growth is expected to be fueled by the expansion of the healthcare and hospitality industries, the introduction of innovative designs and aesthetics, the adoption of resilient flooring in sports facilities, the demand for anti-microbial and easy-to-clean surfaces, environmental regulations and certifications, and the emergence of smart and connected flooring solutions.
Rapid Urbanization Fuels Market Expansion
Rapid urbanization is a key driver behind the resilient flooring market's growth. Economic, political, and social factors are driving people to migrate from rural areas to urban centers, leading to the expansion of modern offices and evolving lifestyles that necessitate new flooring solutions. For example, a report by UNCTAD highlighted that by 2020, the urban population share had risen to 56.2%, with the developed world accounting for 79.2% and the developing world 51.6%. The World Bank also noted that the global urban population has increased from 37% to 56% over the past 50 years. This urban shift is expected to continue, propelling the demand for resilient flooring solutions.
Explore comprehensive insights into the global resilient flooring market with a detailed sample report:
Key Players and Market Trends
Major companies operating in the resilient flooring market include Mohawk Industries Inc., Tarkett S.A, Shaw Industries Group Inc., Armstrong World Industries Inc., Forbo Flooring UK Ltd., Global Flooring Group, Interface Inc., Beaulieu International NV, and Novalis Innovative Flooring, among others. These companies are focusing on product innovation and sustainability to meet the growing consumer demand for eco-friendly and durable flooring options.
Technological advancements are playing a significant role in shaping the resilient flooring market. Consumers are increasingly seeking sustainable solutions, and manufacturers are responding with eco-friendly materials and innovative designs. For instance, Beaulieu Flooring has seen significant sales growth due to its efforts to deliver resilient flooring that balances design, functionality, and sustainability.
Segments:
. Product Type: Luxury Vinyl Tile, Vinyl Sheet and Floor Tile, Rubber, Linoleum, Other Product Types (Cork)
. Construction Activity: Resilient Flooring for Renovation, Resilient Flooring for New Construction
. Application: Residential, Commercial, Other Applications (Industrial)
Region : Asia-Pacific Leading the Market
Asia-Pacific dominated the resilient flooring market in 2023 and is expected to be the fastest-growing region during the forecast period. The region's rapid urbanization, coupled with increasing construction activities, is driving the demand for resilient flooring solutions.
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Resilient Flooring Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Resilient Flooring Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on resilient flooring market size , resilient flooring market drivers and trends, resilient flooring market major players, resilient flooring competitors' revenues, resilient flooring market positioning, and resilient flooring market growth across geographies. The resilient flooring market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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