Friday, 24 July 2015

Flooring Market is Expected to Reach US$ 391.38 Bn in 2023 : Transparency Market Research

Flooring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015
Transparency Market Research has published a new report titled “Flooring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global flooring market was valued at US$ 214.29 Bn in 2014 and is anticipated to reach US$ 391.38 Bn in 2023, expanding at a CAGR of 7.0% between 2015 and 2023. In terms of volume, the market stood at 16,419.2 million square meters in 2014.
Browse the full Flooring (Carpets & Rugs, Tile, Vinyl & Rubber Flooring, Wood Flooring, and Others) Market for Residential, Commercial, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at : http://www.transparencymarketresearch.com/flooring-market.html

Growth in the construction industry is estimated to drive demand for flooring. Residential is the largest end-user of the flooring market. Strong growth in residential and commercial construction industries is projected to boost the flooring market. Increase in productivity of the automotive industry and boom in the global shipbuilding industry are also likely to boost sales of flooring materials. Flooring products are used as floor coverings in vehicles. Strong growth of the automotive industry is a major factor driving the flooring market. However, fluctuation in prices of flooring raw materials is expected to hamper market growth. Wood or lumber is the major raw material used in the manufacture of wood flooring products. However, lumber is a commodity material whose price is highly dependent on demand and supply factors. Industry trends such as innovation, branding, technology advancement are expected to provide new opportunities for the growth of the market. 
The market for flooring materials is diversified with a wide portfolio of products and applications. Most commonly used flooring materials are soft coverings (including carpets & rugs). Other product segments comprise hardwood flooring, flooring tiles, resilient, and laminate flooring. Vinyl & rubber flooring are the most popular varieties of resilient products. Carpets & rugs are woven from fibers.
Demand for flooring products was the largest in the carpets & rugs segment with market volume of 6,556.9 million square meters in 2014 due to extensive usage of these in cold climates in developed regions such as North America and Asia Pacific. However, vinyl & rubber flooring is anticipated to witness the fastest growth rate during the forecast period owing to rising usage of these products due to low cost, high durability, and easy maintenance.
Residential application was the largest segment, generating market revenue of US$ 121.93 Bn in 2014, owing to rise in construction activities in developed as well as developing regions. There has been an increase in educational infrastructure activities in the commercial sector due to growing number of institutions and renovation projects. Furthermore, green buildings are becoming an important part of the construction industry; thus, eco-friendly flooring products are being used in various commercial, healthcare, and educational applications in order to support the green building movement. 
The flooring market has been segmented into:
Flooring Market: Product Segment Analysis
Carpets & rugs
Tile
Vinyl & rubber flooring
Wood flooring
Others (including laminate flooring)
Flooring Market: Application Analysis 
Residential 
Commercial
Others (including industrial and automotive)
Flooring Market: Regional Analysis
North America
Europe
Asia Pacific
Latin America
Middle East and Africa (MEA)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. 
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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