Global Flooring Market size to cross $725 Bn by 2032

Flooring Market size is anticipated to exceed USD 725 billion by 2032, according to the new research report by Global Market Insights Inc.
 

With the surge in global urban population, there is a surging demand for residential and commercial infrastructure. The subsequent implementation of construction strategies will necessitate the production of various building elements such as floorings, bolstering the industry growth.
 

Increasing installation of resilient flooring in home renovation projects

The flooring market valuation from the resilient product type was worth USD 50 billion in 2022. Rising energy costs along with growing interest in energy conservation have escalated the need for insulation in residential and non-residential structures. Considering this, the use of resilient flooring products is likely to increase, since these floors are easy to install and have a high insulation value.
 

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Preference for nuclear families to boost product installation in residential applications

Flooring industry from the residential application segment registered USD 187 billion revenues in 2022. Rising financial uncertainty across the world has garnered the general population’s choice for the nuclear family system. According to estimates from Statistics Sweden, seven out of ten families have adopted the nuclear family system. The growing number of nuclear families have surged the demand for residential structures. The rise in disposable income has enhanced purchasing power, contributing to infrastructural development which will further fuel the market demand
 

Browse key industry insights spread across 219 pages with 197 market data tables & 36 figures & charts from the report, “Flooring Market Size By Product (Soft Coverings, Resilient Flooring [LVT, VCT, Vinyl Sheet, Fiberglass, Linoleum], Non-resilient Flooring [Ceramic, Stone, Wood & Laminate], Seamless Flooring), By Application (Residential, Commercial, Industrial), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/flooring-market-size
 

Economic stability in the North American construction sector

The North America flooring market is poised to register nearly 4.5% CAGR between 2023 and 2032. This can be credited to significant improvements and stability in the construction industry. Growing demand for single-family housing has proliferated residential construction in the region. Large government impetus due to additional discretionary household funding has elevated the demand for home renovation and improvement, thereby stimulating regional business expansion.
 

Issue of certification to key industry players will define competitive landscape

Some of the major companies operating in the business scenario are Amtico, Armstrong Flooring, Congoleum Corp., Forbo Flooring Systems, Gerflor, Interface Inc., Kingspan Group Public Ltd. Company, Mannington Mills Inc., Mohawk Industries, Polyflor Ltd., Pergo, Shaw Floors, Tarkett, Beaulieu, Balta Flowcrete, Delconca, Instarmac, Parador, The Dixie Group, Hyosung Swan Carpet, EGGER, SWISS KRONO Holding AG, Neuhofer. These companies are receiving key awards and certifications that enhance their credibility and help in industry development. Citing an instance, Forbo Flooring Systems received a LEED Gold Certificate for their warehouse in the Netherlands. The company has also been chosen for the Leadership Award for Manufacturers.