Hard Surface Flooring Market
The Hard Surface Flooring Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hard Surface Flooring Global Market Report 2024, The hard surface flooring market size has grown strongly in recent years. It will grow from $38.24 billion in 2023 to $40.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to urbanization, population growth, housing market expansion, economic development, lifestyle changes.
The hard surface flooring market size is expected to see strong growth in the next few years. It will grow to $49.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to sustainable building practices, demand for luxury and customized flooring, increased residential and commercial construction, growth in the real estate market, renovation and remodeling activities. Major trends in the forecast period include rising popularity of luxury vinyl tiles, increased focus on sustainable and eco-friendly flooring options, integration of digital printing technology, demand for seamless and low-maintenance flooring solutions, growing interest in modular and customizable flooring designs.
The increasing construction activities are expected to propel the growth of the hard surface flooring market going forward. Construction activities refer to a process concerned with the act or process of building, how something is built, and the finished construction or installation. Hard-surface flooring is a long-lasting, dependable, and simple-to-maintain building material. Hard-surface flooring serves practical and decorative purposes in buildings, making it a popular option for commercial and residential areas. These benefits include ease of maintenance, functionality, customization, and long-lastingness. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, increasing construction activities are driving the growth of the hard surface flooring market.
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The hard surface flooring market covered in this report is segmented –
1) By Material Type: Vinyl Flooring, Vinyl Sheet, Vinyl Composition Tile, Rubber Flooring, Cork Flooring, Asphalt Flooring, Linoleum Flooring, Other Materials
2) By Surface Type: Seamless Flooring, Wood Flooring, Laminate Flooring
3) By Installation Type: Glue-Down, Floating, Nail Or Staple, Click-Lock
4) By Distribution Channel: Online Retail, Offline Retail, Other Distribution Channels
5) By Application: Residential Buildings, Nonresidential Buildings, Transportation
Technological advancements are a key trend gaining popularity in the hard-surface flooring market. Major companies operating in the hard surface flooring market are focused on adopting new technologies and solutions to sustain their position in the market. For instance, in April 2023, Bjelin Sweden AB, a Sweden-based hardwood flooring manufacturer, launched a new hardened wood 3.0-floor range, a new range of hardened wood floors with updated and improved colors, formats, and technologies. This water-resistant floor-locking system allows quick, simple, and long-lasting installation with a watertight joint. These hardened wood floors also have the proprietary Woodura technology, a top-notch method of creating authentic wood floors that are more environmentally friendly. Using this method, ten times as much product as the same quantity of wood can be produced, and the flooring can be up to three times as sturdy as traditional wood.
The hard surface flooring market report table of contents includes:
1. Executive Summary
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