DALLAS, April 28, 2023 - According to a new market report published by Lucintel, the future the global flooring market looks promising with opportunities in the residential and non-residential sectors. The global flooring market is expected to reach an estimated $305.5 billion by 2027 with a CAGR of ~6% from 2022 to 2027. The major drivers for this market are increasing residential construction and growth in renovation and remodelling activities.

In this market, non-resilient flooring will remain the largest segment over the forecast period due to increasing demand for ceramic tiles in developing region. Within the global flooring market, residential will remain the largest end use market over the forecast period due to growth in single and multi-family buildings. Non-residential flooring is expected to witness the highest growth during the forecast period due to increasing construction of office, retail, and other commercial buildings.

Asia Pacific is expected to remain the largest region; it is also expected to witness the highest growth over the forecast period supported by increasing urbanization and building construction activities.

Emerging trends, which have a direct impact on the dynamics of the market, include increasing demand for loose lay flooring and the introduction of aqua+ technology in laminate flooring. Mohawk industries, Shaw industries, Tarkett, Beaulieu International, Dixie Group Inc., Forbo Holding, Interface Incorporation, Armstrong Flooring are among the major flooring companies.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global flooring market by end use, flooring type, and region. Lucintel has prepared a comprehensive research report entitled "Flooring Market: Trends, Opportunities and Competitive Analysis [2022-2027]".

For any questions related to flooring market or related flooring companies, flooring market size, flooring market share, flooring market growth, flooring market analysis, write Lucintel analyst at email: helpdesk@lucintel.com.

Related Reports:

If you wish to deep dive on some other segments of flooring and related markets then look into below relevant reports from Lucintel.

Vinyl Flooring Market

Wood and Laminate Flooring Market

Ceramic Tile Market

Siding Market

TPO Roofing Membrane

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SOURCE Lucintel