Non-resilient Flooring Market to grow at a CAGR of 5.64% during 2024-2028
The Non-resilient Flooring Market is expected to grow at a CAGR of 5.64% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 45.17 billion. AR and VR technology revolutionize the non-resilient flooring market by providing immersive and interactive experiences for customers. AR applications enable users to visualize various wooden flooring options in their home environment through their smartphone or tablet camera, ensuring a more accurate assessment of scale, color compatibility, and aesthetic suitability. VR experiences offer a fully immersive walkthrough of virtual rooms, allowing potential buyers to explore different wooden flooring alternatives in a realistic and engaging manner, thereby enhancing the decision-making process. These technological innovations empower consumers to make informed choices, ultimately driving growth in the non-resilient flooring industry.
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Technavio analysts predict that the Ceramic subsegment will lead the Type segment during 2024 and 2028 In the non-resilient flooring market, ceramic tiles hold a significant market share, particularly in emerging economies, including the Asia Pacific and South American regions. The primary reason for this preference is the affordability of ceramic tiles compared to solid wood and stone flooring. Vendors like Kajaria Ceramics and Berkshire Hathaway (Shaw Industries Group Inc.) provide a diverse selection of ceramic tiles, featuring intricate designs that replicate wood and stone textures using advanced printing technology. Ceramic tiles offer numerous benefits, including water resistance, stain and scratch resistance, and minimal maintenance requirements. Moreover, the availability of ceramic tiles in a multitude of sizes provides a distinct advantage, making them a preferred choice for contemporary floor specifications and innovative floor designs.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish technological advances in non-resilient flooring
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The Non-resilient Flooring Market encompasses a wide range of flooring options, including granite, marble, concrete, terrazzo, and porcelain tile. These flooring types are popular for their durability and resistance to wear and tear, making them ideal for both new residential construction and remodeling projects. In the Non-resilient Flooring Market, natural stone options like granite and marble continue to be in high demand due to their aesthetic appeal and longevity. However, artificial floors made of glass chips, digital printing technology, and eco-friendly materials are also gaining popularity. The infrastructure sector, including infrastructure projects, is a significant contributor to the Non-resilient Flooring Market. Concrete and terrazzo are commonly used in large-scale construction due to their strength and durability. The quarry is the primary source of raw materials for natural stone flooring, while advancements in technology, such as VR technology, are revolutionizing the way non-resilient flooring is designed and manufactured. Additionally, the use of recycled materials and eco-friendly products is becoming increasingly important in the Non-resilient Flooring Market, as consumers and businesses seek sustainable flooring solutions. Overall, the Non-resilient Flooring Market is expected to continue growing, driven by advancements in technology and the increasing demand for durable, long-lasting flooring options.
According to Technavio, the global non-resilient flooring market is a segment of the expansive global construction materials market, which in turn is a constituent of the larger global materials market. The construction materials market encompasses the revenue generated by manufacturers and providers of various materials such as sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and others, including chemicals, metals and mining, and paper and forest products. The burgeoning building and construction industry is a key growth driver for the global construction materials market, significantly increasing the demand for construction materials.
The Non-resilient Flooring Market is experiencing significant growth, fueled by the technological advances in non-resilient flooring. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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