Rise in the Number of Renovation & Remodeling Activities & Rapid Industrialization booming the demand of flooring market.

Growth Drivers:
♦Rise in Population & Rapid Urbanization
♦Increase in Investments in the Construction Industry
♦Rise in the Number of Renovation & Remodeling Activities
4Rapid Industrialization

Opportunities:
♦Growth of the Organized Retail Sector
♦Rise in Demand From Emerging Economies

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The flooring market will grow from USD 339.29 Billion in 2018 to USD 447.74 Billion by 2023, at an estimated CAGR of 5.7%. Increase in renovation & remodeling activities, rapid urbanization, and increase in investments in the construction industry drive the growth of the flooring market.

The non-residential industry is projected to be the faster-growing segment in the flooring market. In this sector, the demand for flooring is expected to be driven by higher spending on office spaces and other commercial & institutional constructions and greater focus toward employee comfort.

Asia Pacific dominated the market for flooring in 2017, in terms of value. China contributes a major share to the Asia Pacific flooring market. The increasing number of new housing units, increase in population, and significant investments in the infrastructural sector are driving the demand for flooring materials in the region.

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Key Players:
The global flooring market is dominated by players such as Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), Forbo (Switzerland), Gerflor (France), Interface (US), Beaulieu International (Belgium), TOLI Corporation (Japan), and Milliken & Company (US).