Resilient Flooring Market Is Expected To Expand At A CAGR Of 7.2% From 2021 To 2028

 Resilient Flooring Industry Overview

The global resilient flooring market size is expected to reach USD 67.7 billion by 2028, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Product benefits including cost efficiency, lower maintenance, and improved aesthetics are anticipated to drive the demand for resilient floorings over the forecast period.

Factors such as rapid urbanization, changing consumer lifestyle along rising disposable income in the emerging economies of India, China, Brazil, Mexico, and others have spurred market growth. The increasing real estate sector in these economies has substantially driven the market demand for resilient flooring solutions.

The market is struggling due to the underperformance of the construction sector caused by the Covid-19 pandemic. This has resulted in a decline in the demand for resilient flooring products from the residential and non-residential sectors. Despite the relaxation in restrictions, construction and manufacturing sectors are not expected to resume normal operations until the end of 2021.

The market has witnessed extensive competition on account of increasing innovations and growing demand for resilient flooring products. A large number of manufacturers are engaged in R&D activities to introduce sustainable flooring materials. Moreover, players in the market are extending their geographical presence and enhancing their product portfolios to sustain the competitive environment


Resilient Flooring Market Segmentation
Grand View Research has segmented the global resilient flooring market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Luxury Vinyl Tiles, Vinyl Sheet & Floor Tile, Linoleum, Cork, and Rubber.

  • The luxury vinyl tile product segment led the market and accounted for more than 38% share of the global revenue in 2020. Commercial availability of the products coupled with benefits like improved aesthetics, less maintenance, and easy installation are the factors for its growing popularity in residential and commercial flooring applications

  • The vinyl sheet and floor tile segment is expected to witness significant growth over the forecast period on account of their water-resistant property. Moreover, low maintenance costs and the long lifespan of the products are likely to increase the popularity of the products in residential end-use like laundry rooms, bathrooms, kitchens, and moisture-prone areas.

  • In comparison to vinyl solutions, linoleum products have better longevity and durability. These floor coverings are manufactured using jute resin, flax plant, limestone, and wood flour that makes them 100% biodegradable. The increasing importance of waste management and recycling in developed economies including the U.S., U.K., and Germany is anticipated to increase demand for biodegradable materials for floorings.


Based on the Application Insights, the market is segmented into Residential, and Non-residential.

  • The non-residential segment led the market and accounted for more than 64.2% of the global revenue share in 2020. Ease of maintenance, sterilization, slip, and water resistance associated with resilient flooring are factors expected to promote the applications in hospital wardrooms and clinics for maintaining maximum hygiene levels.

 

  • The residential application segment for resilient flooring is inclusive of residential buildings, apartments, complexes, and small and single-family houses. Resilient floorings are majorly used in these structures on account of resistance to slip, shock, stain, and dirt. Moreover, the cushion effect in resilient materials is contributing to the growing demand.

 

Resilient Flooring Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies & Market Share Insights

Key industry players are focusing on the development of new products having high aesthetic properties and additional characteristics such as waterproof, indentation resistance, and other improved performance values. These players also focus on integrations with emerging players to develop low-cost products and gain a competitive advantage.

Tarkett S.A. and Mohawk Industries, Inc. are two major players in the industry with a large number of subsidiaries operating across the globe. Tarkett S.A. is the leading player in the European flooring market and caters to a wide range of flooring products including resilient and non-resilient floorings across the globe. Mohawk is a North American company with numerous subsidiaries including IVC Group, Unilin, Pergo, etc., which account for a significant share in the global market. Some of the prominent players in the resilient flooring market include:

  • Beaulieu International Group
  • Mohawk Industries, Inc.
  • Shaw Industries Group, Inc.
  • Gerflor
  • Forbo Flooring Systems
  • Fatra a.s.
  • Interface, Inc.
  • Tarkett S.A.
  • IVC Group
  • Mondo S.p.A


Order a free sample PDF of the Resilient Flooring Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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