Resilient Flooring Market will exhibit a CAGR of 9.3% during the forecast period, and USD 58.11 billion by 2027, and the Market value as per 2019 was USD 29.62 billion.
Fortune Business Insights™ in a new report, titled, “Resilient Flooring Market Size, Share & COVID-19 Impact Analysis, By Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum, and Others), By Application (Residential, Commercial and Others), and Regional Forecast, 2020-2027.”
Resilient Flooring Market Drivers and Restraint:
Rapid Adoption in Commercial and Residential Construction to Drive Market
Residential and commercial construction contractors are installing different kinds of resilient floorings owing to their advantages. These products provide a smooth surface and are easy to clean & maintain. Also, the ability to resist moisture makes them suitable for application in the bathroom or kitchen. Besides, the growing importance of the Leadership in Energy & Environment Design (LEED) rating system in the construction industry is paving the way for innovative interior designs. Thus, most of the vinyl floor coverings, which are traded with LEED ratings are gaining importance among green building contractors around the world.
RESTRAINING FACTORS
Wide Availability of Other Flooring Products to Restrict Market
Substitute to resilient floor coverings such as carpets, area rugs, laminates, ceramic tiles, stone tiles are widely marketed and used in building and construction. According to the Floor Covering Weekly Statistical Report, the U.S. floor covering market is dominated by non-resilient floor coverings and holds more than 75% value share in 2018. Therefore, the wide acceptance of resilient flooring substitute products is a key challenge for the growth of the market.
List of Key Players Covered in the Resilient Flooring Market Report:
- Mohawk Industries (USA)
- Tarkett S.A. (France)
- Shaw Industries Group Inc. (USA)
- Armstrong World Industries Inc. (USA)
- Mannington Mills, Inc. (USA)
- Forbo Flooring (The Netherlands)
- LG HAUSYS (South Korea)
- Gerflor Group (Germany)
- Interface Inc. (USA)
- Beaulieu International Group (Belgium)
- Novalis Innovative Flooring (China)
- Polyflor Ltd. (UK)
- Congoleum (USA)
- NOX Corporation (South Korea)
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/resilient-flooring-market-102945
Some of the key industry developments in the Resilient Flooring Market Include:
- January 25, 2018: Tarkett S.A. planned to invest 70 million euros over the next three years to expand the production capacity of luxury vinyl tiles in Europe and North America. The company planned to invest 50 million euros in the Alabama production facility, North America, and rest in European production facilities in Poland & Luxemburg.
