Commercial Flooring Market to Penetrate Untapped Regions During the Forecast Period

21/gen/2020 10:48:28 Market Research News Contatta l'autore

The Report Commercial Flooring Market Analysis By Product (Soft Coverings, Resilient, Non-resilient, Seamless, Wood & Laminates), By Application, By Region, And Segment Forecasts, 2018 - 2025

The global commercial flooring market is expected to reach approximately USD 47.69 billion by 2025, according to a new report conducted by Grand View Research, Inc. Increasing number of corporate offices in emerging economies including China, India, and Mexico on account of regulatory inclination to promote the manufacturing output on a domestic level is expected to remain a key driving factor over the next eight years.

Furthermore, rising government spending towards improving education infrastructure through implementation of new schemes including Padhe Bharat Badhe Bharat and Utkarsh Bangla Scheme is expected to have a strong impact. These factors are considered to influence the consumption of construction materials including floor coverings in education sector and hence boost their market growth.

Education segment is expected to foresee volume growth at a CAGR of 5.9% from 2017 to 2025. Growing importance of modular tiles in education spaces for providing moisture resistance and excellent dust control characteristics is projected to have a positive impact on industry. In addition, high market visibility of carpets in developing countries including China and India on account of the presence of large number soft covering manufacturers on a domestic level is projected to have a positive impact.

Access Research Report of Commercial Flooring Market www.grandviewresearch.com/industry-analysis/commercial-flooring-market

Further key findings from the report suggest:

  • The global commercial flooring market was 4,680.0 million square meters in 2016 and is expected to reach 7,903.4 million square meters by the end of 2025, expanding at a CAGR of 6.0% from 2017 to 2025.
  • Wood & laminates are expected to foresee revenue growth at a CAGR of 7.0% from 2017 to 2025. Engineered wood, alternately called as composite wood consist of a number of wood products manufactured by binding particles, fibers, veneers, and strands of wood, which are joined with adhesives to form composite materials. These products are modeled to supreme design requirements as per the specifications of end user or client and are tested to meet international and national standards
  • Asia Pacific is projected to foresee volume growth at a CAGR of 6.9% from 2017 to 2025. Regulatory support aimed at promoting investments in manufacturing sectors of China and India is expected to increase the number of commercial spaces and thus likely to fuel the demand for floor covering in the near future.
  • Key commercial flooring manufacturers include Mannington Mills, Tarkett, Flowcrete, James Halstead, Nora, Milliken Floor Covering, Novalis, Tajima, Tkflor, NOX Corporation, and Toli flooring. Product innovation through introduction of new designs is expected to remain a key critical success factors for floor covering vendors.

Product Insights
Soft Coverings segment was the largest product segment and accounted for 48.9% of the overall share in 2016. They comprise rugs and carpets, and are luxurious in appearance, reduce drought and deliver excellent insulation.

Rising importance of anti-microbial fortified flooring products in the healthcare industry as a result of increasing spending on HVAC clean rooms by hospitals is expected to increase the usage of carpets. Furthermore, increasing spending on new broadloom products for healthcare industry by companies including Mannington is anticipated to have a substantial impact on the market in the near future.

The resilient flooring industry is expected to show substantial growth over the next eight years due to several benefits they offer such as cost effectiveness, easy installation, and low maintenance. Further, these products are extremely durable, pliant and elastic, and include many materials including vinyl, rubber, and linoleum.

The seamless segment in commercial applications was 238.0 million square meters in 2016. These flooring systems are well suited for floors that are prone to spills, and offer numerous benefits including durability, safety, and easy application; they are also easy to clean.

Application Insights
Commercial buildings accounted for the largest share of 35.9% of the total market in 2016. The demand for commercial floorings in this application segment is estimated to rise at a steady CAGR, owing to their utilization in growing construction spending of business centers, offices, and IT parks in developing countries.

Flooring materials are useful in various floor spaces in the public building sector that includes municipal corporations, government offices, and religious places. Public buildings have the most prominent foot traffic. Hence, demand for tough and durable flooring materials in the public buildings sector is expected to increase in the next couple of years.

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.

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