The Flooring Market is being driven by Rapid growth in global construction industry
The Flooring Market is expected to grow at a CAGR of 6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 173.2 billion. In the residential construction sector, there is a significant market trend toward the adoption of waterproof flooring solutions. Key industry players, including Mohawk Industries and Gerflor, are responding to this demand by integrating waterproof features into their existing product lines. Vinyl flooring, a popular alternative to traditional wooden flooring, is being enhanced with WPC technology, which provides superior water resistance, stain protection, and ease of cleaning. With the prevalence of modern home designs featuring open floor plans and indoor-outdoor living spaces, waterproof flooring becomes an essential consideration for areas susceptible to moisture, spills, and accidents. Kitchens, bathrooms, laundry rooms, and basements are prime candidates for waterproof flooring installations, ensuring homeowners a longer product lifespan and reduced replacement costs.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Residential, Non-residential) Type (Non-resilient flooring, Resilient flooring, Soft cover flooring) Geography (APAC, North America, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Flooring Market Research Report
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In the world of flooring, sustainability and affordability are key trends. Modern designs in residential and commercial spaces showcase high-performance and superior flooring options, such as bamboo, cork, and luxury vinyl. Recycling and eco-friendly alternatives are also important, including engineered wood and innovative materials. Warranty, maintenance, and durability are crucial factors in flooring production and implementation. Fire-resistant, anti-slip, and waterproof flooring are essential for safety and functionality. Commercial flooring trends focus on workspace solutions, flooring textures, and commercial carpet maintenance. Innovative flooring materials offer soundproofing, and design elements include aesthetic flooring colors and tile patterns. Flooring usage varies from office spaces to high-end residential homes, and installation services ensure proper implementation. Maintenance tips ensure the longevity of durable floor coverings. Flooring growth stages include production, design, and implementation, with a focus on innovative materials and sustainable practices. Commercial carpet pricing and wood flooring are also significant considerations in the flooring market.
The global construction materials market encompasses the production and sales of various materials such as sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and other related products. This market's size is determined by the combined revenue generated by manufacturers and providers in the sectors of chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. Key drivers propelling the expansion of this market include the surge in the building and construction industry, with the global market experiencing substantial growth in recent years, and the ongoing trend expected to continue. Additionally, the demand for durable and comfortable flooring solutions, particularly in commercial offices, is fueling the production of innovative and design-conscious flooring materials. Regulatory frameworks, ensuring safety and sustainability, further bolster market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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