Flooring Market Growing at a CAGR of 5.6% from 2022 to 2031| By Material Wood Stone Ceramic Laminate

flooring market is poised for significant expansion, driven by rapid urbanization, growing environmental awareness, increased adoption of innovative flooring

WILMINGTON, DE, UNITED STATES, January 14, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled “Flooring Market,” the global flooring market size was valued at $320.3 billion in 2021 and is estimated to reach $558.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2031.

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The flooring market encompasses various types of printed flooring solutions. Based on printing type, the market is divided into digital and traditional categories. Among these, the traditional segment accounted for the highest market share in 2021 due to the significant presence of small-scale businesses involved in traditional printing techniques. Furthermore, by material, the ceramic segment held the largest share of the market in 2021, attributed to its easy availability, affordability, and low maintenance requirements.

The market is further segmented by end users into residential and non-residential buildings. Among these, the non-residential segment is anticipated to witness a higher CAGR during the forecast period. The primary drivers of market growth include the rise in construction activities resulting from rapid urbanization and population growth, particularly in Asia-Pacific and the regions of Latin America, the Middle East, and Africa (LAMEA). However, stringent government regulations in key countries are expected to hinder the overall market growth during the forecast period.

In 2021, Asia-Pacific dominated the global flooring market in terms of revenue. Moreover, LAMEA is projected to experience significant growth, driven by rapid urbanization and increased infrastructure development in the region.

Additionally, the rise in public-private partnerships (PPPs) worldwide is expected to boost the construction of non-residential buildings, further fueling market growth. Growing public awareness of environmental protection has also led to increased demand for sustainable flooring solutions. Consequently, key market players are focusing on the development of eco-friendly and sustainable products.

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Leading manufacturers in the flooring industry are adopting various strategies to remain competitive. For example, in November 2021, Lord Parquet, a prominent flooring manufacturer, introduced a 100% recyclable flooring solution. This innovative product features a non-PVC core made from 100% degradable polyethylene, aligning with the growing trend toward environmentally sustainable construction materials.

However, the COVID-19 pandemic significantly impacted the flooring market. During the lockdown period, several manufacturers in major countries such as China, the U.S., and India had to suspend operations, which directly affected sales. Additionally, a shortage of manpower and raw materials disrupted the supply chain, further hampering market growth. Despite these challenges, the introduction of vaccines and the subsequent easing of restrictions have enabled key players to recover and resume operations at a robust pace.

Several key companies are profiled in the flooring market forecast report, including Armstrong Flooring, AZEK Company, Beaulieu International Group, Citadel Floors, Ebaco India Pvt. Ltd., ECORE International, Inc., Fiberon, Forbo Flooring, Gerflor, Interface Inc., Iron Woods, Mats Inc., Milliken and Company, Mohawk Industries Inc., Shaw Industries, Tarkett S.A., and Toli Corporation. These companies are actively engaged in product innovation, partnerships, and acquisitions to strengthen their market positions.

Key findings of the study include:

The report provides a comprehensive analysis of current and emerging trends in the flooring market, offering insights into future growth opportunities.

By printing type, the traditional segment dominated the market in 2021 in terms of revenue, while the digital segment is expected to grow at a significant CAGR during the forecast period.

Based on material, the ceramic segment accounted for the highest market share in 2021, driven by its affordability and durability.

By end-user industry, the non-residential segment is projected to grow at a higher CAGR during the forecast period, owing to increased construction activities in the commercial sector.

Regionally, LAMEA is expected to register the highest growth rate in the coming years, supported by rapid urbanization and infrastructure development.

The report also provides a detailed analysis of the competitive landscape, profiling key players and thoroughly evaluating their strategies. This analysis helps in understanding the competitive dynamics and positioning of major players in the flooring industry.

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Furthermore, the report highlights emerging opportunities and provides in-depth insights into key segments from 2021 to 2031. It also offers detailed estimations and forecasts, enabling stakeholders to make informed decisions regarding investments and expansions.

The increasing trend toward sustainable construction materials, coupled with rising investments in infrastructure development, is expected to create lucrative opportunities for the flooring market during the forecast period. Additionally, technological advancements in flooring products, such as the development of smart flooring solutions that enhance energy efficiency and indoor air quality, are anticipated to further drive market growth.

David Correa
Allied Market Research
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