Resilient Flooring Market

Resilient Flooring Market Outlook

The global resilient flooring market is poised to grow at nearly 5.6% CAGR, in terms of value until 2026, surpassing US$ 10 Billion by the end of the short-term forecast period.

As of 2020, the market was valued at US$ 7.2 Billion, up from US$ 6.1 Billion in 2017. Rapid urbanization and industrialization have resulted in a high and immediate requirement for resilient flooring in industrial areas, housing projects and IT parks.

Report Attributes	Details
Market size value in 2020	USD 7.2 Billion
Market forecast value in 2031	USD 14.4 Billion
Growth Rate	CAGR of 7% from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Market Segments Covered	Material Type End User Construction Activity Region
Key Companies Profiled	Tarkett S.A Mannington Mills Inc. Mohawk Group Congoleum Corporation Berkshire Hathaway Inc. Beaulieu International Group N.V. Forbo Holding AG Armstrong Flooring Inc. Burke Industries Inc. Karndean International Limited

Consumption Analysis of Resilient Flooring from 2016-2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR – market research and competitive intelligence provider, the global market for resilient flooring expanded at around 5% CAGR from 2016 to 2020, registering an impressive valuation of nearly US$ 7.2 Billion.

Environmental-friendly floor covering solutions that include rubber, bamboo, cork, hardwood, glass, and linoleum have witnessed a significant surge in demand across residential and non-residential spaces, which in turn will influence the growth of the resilient flooring market in the near future.

Based on the aforementioned projections, Fact.MR’s report expects the global resilient flooring industry to grow at nearly 7% CAGR until 2031, surpassing a valuation of over US$ 14 Billion by the end of the assessment period.

How are Construction Projects Generating Opportunities for Resilient Flooring?

Resilient flooring is flexible in nature, eliminating the slight bumps and gaps associated with regular flooring. The increasing number of renovation, reconstruction, and new construction projects have boosted the demand for resilient flooring.

According to the World Bank, 55% of the world population resides in cities. By 2050, with the urban population more than doubling its current size, nearly 7 of 10 people in the world will live in cities, leading to a massive growth in the commercial construction sector.

The residential and commercial contractors are installing different kinds of resilient flooring based on the needs and preferences of the consumer. Various factors like water resistance properties, easy to clean and smooth surfaces, and design of the flooring are responsible for impacting the demand for resilient flooring.  

According to the Federal National Mortgage Association (Fannie Mae), residential house construction was expected to jump by 10% through 2020, with 1 million new homes expected to hit the market by the end of 2021. Considering these factors, the market for resilient flooring is projected to witness robust opportunities during the forecast period (2021-2031).

Country-Wise Analysis 

What is the Demand Outlook in the U.S? 

The U.S market for resilient flooring is expected to capture over 40% revenue across the forecast period. The U.S has worked on stepping up its R&D programs to develop advanced flooring technologies.

According to the Associated General Contractors of America, construction is a major contributor to the U.S. economy. The industry has more than 733,000 employers with over 7 million employees and creates nearly $1.4 trillion worth of structures each year. 

How will Asia Generate Future Expansion Opportunities? 

Asia is projected to be the largest revenue contributor to the global market for resilient flooring through 2031 owing to robust expansion of the construction industry across emerging nations such as India, China, and Thailand. The region is likely to contribute over 2/5th of the global market revenue. 

Additionally, the proliferation of commercial spaces such as corporate offices, retail stores, and hospitals will further create demand for resilient flooring across the region. Besides the aforementioned countries, India is a promising market for resilient flooring.

According to the India Brand Equity Foundation, the real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13% to the country’s GDP by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs.

Category-Wise Insights

Why are Renovation Projects the Go-to Segment? 

According to Fact.MR, on the basis of construction activity, renovation will account for over 75% market share throughout the forecast period. Sales of resilient flooring for use in renovation activities are expected to exceed 1.5 Billion sq. meters by 2026-end.

As the global construction industry continues to surge, existing infrastructure maintenance services are also inclining significantly. From hospitals and retail stores to large commercial facilities, resilient flooring is an apt choice to ensure durability.

Why are Vinyl-based Resilient Flooring Gaining Traction?

According to Fact.MR, vinyl is expected to account for the lion’s share, with sales forecast to exceed 1.2 Billion sq. meters by 2026-end. Vinyl imparts high aesthetic value, offers greater flexibility and is easy to install.

Furthermore, vinyl flooring material is coated with high-end polymers such as polyurethane, which offers excellent stain & scratch resistance and improves overall performance.

Competitive Landscape 

Competition in the global resilient flooring market is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold.

They are increasingly focusing on investing in research and developments to cater to the requirements of end-use industries. Companies are not only limited to R&D investments. They are also focusing on product launches to gain a competitive advantage. 

• 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 and patented Diamond 10 Technology for category-leading scratch, stain, and scuff performance.
• 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.  Choosing among ADURA®Flex (traditional LVT), ADURA®Rigid (SPC), and ADURA®Max (WPC) offers the unique opportunity for them to get the pattern and color they love in the product they need.

Key Segments Covered

• By Material Type

  • Vinyl
  • Linoleum
  • Cork
  • Rubber

• By End User

  • Residential
  • Non-Residential

• By Construction Activity

  • Renovation
  • New Construction

• By Regions

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa