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Flooring Market Size

Report ID: GMI122
Published Date: Nov 2022
Report Format: PDF

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Flooring Market Size

Flooring Market size exceeded USD 440 billion in 2022 and is anticipated to register 4% CAGR from 2023 to 2032.

Rising construction initiatives, supported by publicly funded infrastructural projects, have increased the flooring market demand. Furthermore, booming residential construction projects across developed economies have increased the value of global construction work. Strong household finances and shifts in household expenditure trends have increased the appeal of single-family dwellings.

As per Oxford Economics, construction spending accounted for 13% of the global GDP in 2020, which is anticipated to reach 13.5% by 2030. The global construction output is expected to surpass USD 13.3 trillion by 2025, wherein, the residential sector will play a critical role over a short period. For instance, home remodeling projects are gaining significant interest, boosting the need for critical components such as flooring products in construction applications.

Flooring Market Report Attributes
Report Attribute	Details
Base Year:	2022
Flooring Market Size in 2022:	445.45 Billion (USD)
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4%
2032 Value Projection:	728.71 billion (USD)
Historical Data for:	2018 to 2021
No. of Pages:	219
Tables, Charts & Figures:	233
Segments covered:	Product, Application, and Region
Growth Drivers:	Rise in construction spending Revival of construction industry in Europe Rising construction activities in Middle East and North Africa Rapid growth of urban population, changing lifestyle and activities
Pitfalls & Challenges:	Disposal of waste

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It is anticipated that the negative impact of some flooring product debris on the health and environment may inhibit flooring market growth to a certain extent. Many of the flooring alternatives contain harmful chemicals, which can be a major source of indoor air pollution. Carpentry processes can release volatile organic compounds (VOCs) into the air. Additionally, most of the vinyl flooring is made using reprocessed plastic containing toxic phthalates. These factors may impede industry development to a certain extent.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of flooring surpassed USD 440 billion in 2022 and is expected to exhibit 4% CAGR between 2023 and 2032, owing to increased spending on construction.

Flooring industry share from the non-resilient flooring product segment is anticipated to be worth USD 470 billion by 2032, on account of accelerated industrialization and the growing number of manufacturing facilities.

Asia Pacific flooring industry is projected to attain 4.6% gains through 2032 due to rapid infrastructural development in China and India, among other Asian regions.

Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., and Kingspan Group Public Ltd are some of the companies operating in the flooring business scenario.