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Resilient Flooring Market

Construction Sector to Boost the Demand for Resilient Flooring through 2031, registering 5.5% CAGR, says Fact.MR

Published : 01 Sep 2021 Industry: Industrial Goods

According to a recent study by Fact.MR, the global resilient flooring market is forecast to rise at a steady 5.6% CAGR, in value terms, reaching US$ 10 Bn by 2026. Long-term projections for the market appear even more lucrative, with an expected CAGR of over 7% from 2021-2031, with an expected valuation of over US$ 14 Bn.

From 2016 to 2020, the market for resilient flooring expanded at around 5% CAGR, reaching US$ 7.2 Bn by the end of the historical period. The substantially increasing number of home improvement & renovation activities on account of changing consumer trends as well as lifestyles has meant that resilient flooring is witnessing high demand in the residential sector. 

In addition, fiberglass flooring has been gaining high momentum recently, which can be attributed to its properties namely, excellent durability and lightweight. Superior insulation properties of fiberglass because of the presence of reinforced materials have further complemented its demand. Amidst the COVID-19 pandemic, prospects dipped in the first half of 2020, as restrictions on commercial activities to curb further infection spread were enforced.

Key Takeaways from the Market Study

  • Over 40% revenue is projected to be acquired by Europe by 2026-end.
  • U.S to capture over 2/5th of the global demand for resilient flooring through 2031
  • Vinyl sales to exceed 1.2 Bn sq. meters by the next half-a-decade, by material type
  • Sales of resilient flooring for use in renovation activities are expected to exceed 1.5 Bn sq. meters by 2026
  • Asia to emerge as an opportunistic market, registering over 2 out of 5 sales
  • Non-residential end-users sales to account for over 66% market share

“As urbanization swells, governments are spending a huge portion of their budgets in sanctioning housing and other infrastructure projects, a trend which will majorly spur resilient flooring sales,” says the Fact.MR analyst.

Competitive Landscape

Key players operating in the resilient flooring market include Tarkett, Mannington Mills Inc, Mohawk Group, Congoleum, Berkshire Hathaway Inc., Beaulieu International Group N.V., Forbo Holding AG, Armstrong Flooring, Burke Industries Inc., and Karndean International Limited, among others.

Companies are not only limited to R&D investments. They are also focusing on product launches to gain a competitive advantage. 

For instance, 

  • In May 2021, Armstrong Flooring, a leader in the design and manufacture of innovative flooring solutions, announced the launch of three new luxury flooring collections — Biome, Terra, and Coalesce. Each collection is proudly manufactured in the USA and features a 2.5 mm structure with a 20 mil wear layer.
  • In January 2020, Mannington introduced five new looks into the ADURA® Selling Solution.  Featuring clean and modern designs that reflect the latest home trends, the four wood, and one tile designs offer colors and styles in a variety of constructions to satisfy any customer. 

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the resilient flooring market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The report discloses compelling insights into the demand for resilient flooring on the basis of the material type (vinyl, linoleum, cork, and rubber), end-user (residential and non-residential), and construction activity (renovation and new construction), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

About the Industrial Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant - Industrial Goods and Automotive

E-mail: Shubham@factmr.com

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Resilient Flooring Market Snapshot, Trend Analysis & Competition Tracking - Global Review 2021 to 2031