Resilient Flooring Market To Reach $9.96 Billion By 2024: Grand View Research, Inc.
The
global resilient flooring market is expected to reach USD
9.96 billion by 2024, according to a new report by Grand View Research, Inc.
Rising demand for resilient flooring in light of increasing government spending
on infrastructural development is expected to spur industry size. Furthermore,
excellent insulation properties of the product will propel market growth over
the forecast period. Increasing consumption of linoleum as it is eco-friendly
and offers high longevity and durability will promote industry growth.
Commercial
applications were a prominent segment and accounted for over 30.0% of the
overall volume in 2015. It will witness significant gains in light of the
expansion of workspaces and ultramodern offices, rapid urbanization coupled
with high living standard. Moreover, growing consumption of luxury vinyl tiles
(LVT) in corporate sector applications including cafeterias, corridor, back
office, and break rooms will augment industry growth.
The luxury
vinyl tiles (LVT) is expected to witness significant volume rise at a CAGR of
6.0% from 2016 to 2024 owing to its low installation cost as compared to vinyl
composite tiles (VCT). Furthermore, increasing acceptability as durable and
aesthetic materials will fuel product demand over the forecast period.
Full
Research Report On Global Resilient Flooring Market Analysis:
www.grandviewresearch.com/industry-analysis/resilient-flooring-market
www.grandviewresearch.com/industry-analysis/resilient-flooring-market
Further
key findings from the report suggest:
- The global resilient
flooring market demand was 1,046.1 million square meters in 2015 and is
expected to show high gains in light of growing housing sector in the
U.S., India, and China.
- North America accounted
for 27.6% of the global revenue share in 2015. The region will witness
significant gains on account of high penetration of building and
non-building structures for residential and commercial applications in the
U.S. Furthermore, increasing the prevalence of supermarkets and retail
spaces in Mexico is expected to open new industry avenues over the next
eight years.
- Latin America will show significant
revenue growth at a CAGR of 7.0% from 2016 to 2024 as a result of
increasing number of commercial spaces by companies operating in
automotive, chemical and personal care sectors. Furthermore, new
investments in the housing industry, commercial areas, and transport
facilities will fuel product demand over the forecast period.
- Resilient flooring
industry is dominated by key participants including Tarkett, Mohawk
Industries, Shaw Floors, Armstrong World Industries, and Mannington Mills,
Inc. accounting for over 60.0% of the overall share. Ongoing product
development by various companies to manufacture high-performance floorings
is expected to propel product consumption over the next eight years.
- In April 2016, IVC (now
under Mohawk Industries) announced plans to invest approximately USD 100
million in its Dalton plant to increase the manufacturing capacity to
cater to the growing demand. In June 2016, Mannington introduced Teles, a
high resiliency rubber flooring that has an indentation resistance of 1500
psi, which is double the industry standard.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global resilient flooring market on
the basis of product, application, and region:
Global
Resilient Flooring Product Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Luxury
Vinyl Tiles (LVT)
- Vinyl
Composite Tiles (VCT)
- Vinyl
sheets
- Fiberglass
- Linoleum
- Others
Global
Resilient Flooring Application Outlook (Volume, Million Square Meters; Revenue,
USD Million, 2013 - 2024)
- Residential
- Commercial
- Industrial
Global
Resilient Flooring Regional Outlook (Volume, Million Square Meters; Revenue,
USD Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- France
- UK
- Italy
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- MEA
- South
Africa
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-resilient-flooring-market
www.grandviewresearch.com/press-release/global-resilient-flooring-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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