Soft Covering Flooring Market To Witness Grow At A CAGR Of 5.2% From 2014 to 2020: Grand View Research, Inc.
The soft covering flooring market is expected to
exceed USD 152.5 billion by 2020, growing at a CAGR of about 5.2% from 2014 to
2020 owing to increasing population in metropolitan cities with people
migrating from rural areas to urban cities coupled with changing consumer
lifestyles. Soft coverings which possess dust-binding features include carpet
tiles, rugs, and broadlooms. In addition to providing heat insulation &
comfort, they also reduce noise reflections inside rooms.
Demand for these flooring solutions is expected to
increase owing to the safety covering they provide and aesthetic appearance of
offices, carpet tiles, home decors and rugs. Growing utilization of numerous
designs of rugs and first-class carpets, owing to increasing number of
customers and their buying power, is expected to have a positive impact on the
industry. The revival of the economic situation worldwide has led to the growth
of the construction industry and is likely to stimulate substantial demand for
the product over the forecast period.
Increasing capital gains and infrastructural
investment are expected to drive demand for soft covering flooring over the coming
years. Better research methodologies and manufacturing processes are estimated
to fuel demand.
Full
Research Report On Global Soft Covering Flooring Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/soft-covering-flooring-market
www.grandviewresearch.com/industry-analysis/soft-covering-flooring-market
In 2013, new residential and commercial construction
constituted to nearly 70.0% of the application segment in the overall share.
Need for better workplaces and offices that constitute the non-residential
segment coupled with increasing employment opportunities are expected to drive
growth in this market. office. Growing expenditure owing to an inclination
towards better furnishings such as rugs & carpets and spending on commercial
real estate are major driving factors for growth. Hospitality and travel also
play a vital role in propelling demand.
Carpet tiles, area rugs, and broadlooms constitute
the product segment. Carpet tiles emerged as the dominant application and
captured approximately 70.0% of overall share. Manufacturers have been trying
to gain prominence and product differentiation in the market by developing
numerous variants and designs in carpet tile thus expanding their network.
North America accounted for over 35% of the market share in 2013 dominating the
global market.
New developments including sustainable and
eco-friendly carpets have fuelled demand in US and Europe. India and China are
expected to be the fastest-growing economies over the forecast period on
account of growing need for home decor, renovation operations, and
enhancements. Increasing capital investment in emerging economies is expected
to be a key factor for the product growth.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/green-building-materials
www.grandviewresearch.com/industry/green-building-materials
Key players in soft covering flooring market include
AstroTurf LLC, Abbey Carpet Company Inc., Beaulieu Group LLC, Cargill Inc.,
Bentley Mills Inc., Dixie Group Inc., Mannington Mills Inc., Engineered Floors
LLC, Mohawk Industries Inc., Royalty Carpet Mills Inc., rinseo SA and Milliken
& Company.
Acquisition & merger and partnership are the key
strategies being adopted by the major players to enter into new markets, thus
increasing their revenue. For instance, the takeover of Desso by Tarkett, The
ALJ Regional Holdings acquired Floors N More LLC and the acquisition of Atlas
Carpet Mills by the Dixie Group.
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-soft-covering-flooring-market
www.grandviewresearch.com/press-release/global-soft-covering-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
Comments
Post a Comment