Flooring Market Is Extrapolated To Reach A Value Of USD 398.27 Billion By 2030
Flooring Industry Overview
The global flooring market size was valued at USD 277.67 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2030.
Increasing demand for aesthetic, superior, and durable floor covering solutions and changing consumer trends in floor design are aiding the growth of the flooring industry over the past few years. The expansion of offices & workspaces, improving consumer lifestyle, and rapid urbanization are factors that have also contributed to the market growth. The fast-paced infrastructural development owing to the rising population in developing countries further contributes to the growth of the flooring industry.
Gather more insights about the market drivers, restrains and growth of the Flooring Market
The growing disposable income has resulted in increased investments for comfort in residential buildings. Additionally, the continuous growth of high-end residential housing structures and the subsequent and growing preference for single-family housing structures are driving the demand for the market.
Domestic and foreign manufacturers are heavily investing in the U.S. regional market to meet the rising demand from various application industries. Several construction projects are underway in the U.S. For instance, in 2020, Amazon started the construction of its HQ2 building, which is estimated to be worth USD 2.5 billion. The mega project continues to make head turns in the construction industry as Amazon plans completion by 2023. The increasing large investments in such projects is expected to boost the demand for flooring, thereby increasing U.S. flooring market size.
The advancements in easy-to-install techniques, the availability of innovative construction solutions, and the rising demand for environmentally sustainable products are expected to drive the industry’s growth. The stringent regulatory framework during the production, usage, implementation, and recycling stages is also expected to boost market growth.
Furthermore, consumer preferences for aesthetically improved designs, textures, and colors, as well as low-maintenance and easy-to-install floorings, are expected to drive market growth. The growing desire for comfort and privacy as a result of noisier surroundings has increased the demand for insulation in the market, as well-insulated floors create a better acoustic environment. As a result, demand for floor insulation has increased, supporting market growth.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
The global vinyl flooring market size was estimated at USD 23.16 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 5.2% during the forecast period.
The global ceramic tiles market size was estimated at USD 186.70 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030.
Flooring Market Segmentation
Grand View Research has segmented the global flooring market report based on product, application, and region:
Flooring Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)
Ceramic Tiles
Vitrified (Porcelain) Tiles
Carpet
Vinyl
Luxury Vinyl Tiles (LVT)
Linoleum/Rubber
Wood & Laminate
Natural Stone
Other Flooring Materials
Flooring Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)
Residential
Commercial
Industrial
Flooring Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)
North AmericaU.S.
Canada
Mexico
EuropeGermany
U.K.
France
Italy
Spain
Russia
Romania
Czech Republic
Portugal
Ukraine
Slovakia
Hungary
Asia PacificChina
India
Japan
South Korea
Australia
Indonesia
Philippines
Vietnam
Middle East & AfricaSaudi Arabia
UAE
Israel
Egypt
Qatar
South Africa
Morocco
Central & South AmericaBrazil
Argentina
Peru
Colombia
Chile
Key Companies profiled:
Mohawk Industries, Inc.
Tarkett, S.A.
AFI Licensing
Burke Flooring Products, Inc.
Firbo Flooring
Shaw Industries, Inc.
Interface, Inc
Gerflor
Mannington Mills, Inc.
Polyflor
RAK Ceramics
Crossville Inc.
Atlas Concorde S.P.A.
Porcelanosa Group
Kajaria Ceramics Limited
Key Flooring Company Insights
Recent Developments
Additionally, manufacturers are also establishing a strong online presence for the sake of gaining a competitive edge. The development of innovative products and proper display & distribution systems, which includes online catalogs and virtual assistants, help the consumers choose the ideal product for the intended application. Thereby, the customers intend to visit online websites before visiting stores for collecting information regarding the products and the company. This has given an edge to manufacturers with a strong foothold in the virtual world.
In March 2023, Shaw Industries Group, Inc. announced its partnership with Encina for recycling waste generated from carpet manufacturing. Shaw Industries will provide more than USD 2.5 million of waste every year to Encina. The partnership will help the former decrease its greenhouse gas emissions as well as carbon footprint, which in turn will help the company achieve its sustainability target.
In January 2023, Interface, Inc. launched a new winter collection of carpet tiles under the brand FLOR. The collection consists of new colorway and styles, which adds comfort and warmth to a space. Furthermore, the collection is replaceable, easy to clean, and durable.
Order a free sample PDF of the Flooring Market Intelligence Study, published by Grand View Research.
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