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Global Resilient Flooring Market Size Study, by Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum), by Application (Residential, Commercial, Others) and Regional Forecasts 2024-2032

Global Resilient Flooring Market Size Study, by Product Type (Luxury...

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Global Resilient Flooring Market Size Study, by Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum), by Application (Residential, Commercial, Others) and Regional Forecasts 2024-2032
Global Resilient Flooring Market Size...
Report Code
RO3/103/2528

Publish Date
06/Nov/2024

Pages
200
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The Global Resilient Flooring Market, valued at USD 42.27 billion in 2023, is projected to register a robust compound annual growth rate (CAGR) of 9.3% during the forecast period from 2024 to 2032. The adoption of resilient flooring is on the rise due to its superior durability, ease of maintenance, and aesthetic appeal, making it a preferred choice among interior designers and contractors alike. The growing popularity of resilient flooring is largely fueled by advancements in innovative technologies, such as the integration of 3D printing in tile designs, which have enhanced consumer appeal. Leading industry players are heavily investing in expanding their production capacities and developing cutting-edge products to meet the increasing demand. For instance, Hong Kong-based Novalis Innovative Flooring's recent investment of around USD 30 million in a new manufacturing facility in the U.S. reflects the industry's commitment to growth and innovation.

The market faced challenges during the COVID-19 pandemic, particularly due to the slowdown in construction activities worldwide. The pandemic led to supply chain disruptions, labor shortages, and delays in ongoing projects. However, as construction activities resume under government guidelines, the market is expected to recover, bolstered by financial incentives and supportive tax policies from regional governments. Sustainability has emerged as a key trend in the resilient flooring market. Growing environmental concerns and stringent government regulations are driving manufacturers to develop eco-friendly flooring solutions. Products made from recycled materials, such as Interface Inc.'s Luxury Vinyl Tile (LVT) line, are gaining traction among environmentally conscious consumers. The increasing importance of sustainable practices is shaping the future of the resilient flooring market, with manufacturers focusing on reducing their carbon footprint.

Resilient flooring's application in both residential and commercial construction is a significant growth driver. The product's resistance to moisture, ease of cleaning, and long-lasting durability make it an attractive option for areas with high foot traffic, such as kitchens, bathrooms, and commercial spaces. Moreover, the growing emphasis on the Leadership in Energy & Environment Design (LEED) certification in the construction industry is expected to further drive demand for resilient flooring, particularly among green building contractors. However, the market faces challenges from the availability of alternative flooring products such as carpets, ceramic tiles, and stone tiles, which hold a significant share in the global floor covering market. The competition from these non-resilient products may restrict the growth potential of the resilient flooring market in certain segments.

The Asia-Pacific region is the dominating region in the Resilient Flooring Market. This dominance is driven by several factors, including rapid urbanization, industrialization, and significant growth in the construction sector across countries like China, India, and Southeast Asian nations. The increasing demand for affordable, durable, and aesthetically pleasing flooring solutions in residential, commercial, and industrial buildings further boosts the market. Additionally, the rise in disposable income and changing lifestyle preferences in these countries contribute to the growing adoption of resilient flooring. The region's strong manufacturing base, with easy access to raw materials and low production costs, also enhances its leadership in the market.

Major market players included in this report are:
Mohawk Industries (USA)
Tarkett S.A. (France)
Shaw Industries Group Inc. (USA)
Armstrong World Industries Inc. (USA)
Mannington Mills, Inc. (USA)
Forbo Flooring (The Netherlands)
LG HAUSYS (South Korea)
Gerflor Group (Germany)
Interface Inc. (USA)
Beaulieu International Group (Belgium)
Novalis Innovative Flooring (China)
Polyflor Ltd. (UK)
Congoleum (USA)
NOX Corporation (South Korea)
Responsive Industries Ltd. (India)
The detailed segments and sub-segment of the market are explained below:
By Product Type:
Luxury Vinyl Tile (LVT)
Vinyl Sheet & Floor Tile
Rubber
Linoleum
Others
By Application:
Residential
Commercial
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

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