Overview and Scope
Resilient flooring is a combination of fillers, binders, and colours, and it is also known as vinyl flooring. Filler materials include synthetic fibers, limestone, and mineral fillers like asbestos. The material that binds the mixture together will be either asphalt or resin. Resilient flooring consists of linoleum, asphalt, vinyl, rubber, wood, and cork.
Sizing and Forecast
The resilient flooring market size has grown strongly in recent years. It will grow from <b>$35.38 billion in 2023 to $37.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the historic period can be attributed to durability and low maintenance, commercial and residential construction, eco-friendly and sustainable options, increasing urbanization, renovation and remodeling projects..
The resilient flooring market size is expected to see strong growth in the next few years. It will grow to <b>$48.45 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. </b> The growth in the forecast period can be attributed to growth in the healthcare and hospitality industry, innovative design and aesthetics, resilient flooring in sports facilities, anti-microbial and easy-to-clean surfaces, environmental regulations and certifications, smart and connected flooring solutions.. Major trends in the forecast period include luxury vinyl tiles and planks, hybrid and rigid core flooring, recycled and sustainable flooring materials, digital printing technology for design, resilient flooring in modular and click-lock formats, floor heating and cooling systems..
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Segmentation & Regional Insights
The resilient flooring market covered in this report is segmented –
1) By Product Type: Luxury Vinyl Tile, Vinyl Sheet and Floor Tile, Rubber, Linoleum, Other Product Types (Cork)
2) By Construction Activity: Resilient Flooring for Renovation, Resilient Flooring for New Construction
3) By Application: Residential, Commercial, Other Applications (Industrial)
<b>Asia-Pacific</b> was the largest region in the resilient flooring market in 2023 and is also expected to be the fastest-growing region during the forecast period. The regions covered in the resilient flooring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Rapid urbanization is contributing to the growth of the resilient flooring market. Economic, political, and social issues will combine with the circumstances of modernization to make people migrate from rural areas to urban areas. The expansion of modern offices, rapid urbanization, and evolving lifestyles are paving the way for the growth of newer flooring substances. For instance, in June 2021, according to UNCTAD, a Geneva-based intergovernmental organization intended to promote the interests of developing states in world trade, by 2020, the share of the urban population increased to 56.2%. It is generally higher in the developed world (79.2% in 2020) than in the developing world (51.6%). Furthermore, in October 2021, according to the data published by the World Bank report, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries to pursue capital projects, the world’s population living in urban areas has increased from 37% to 56% in the past 50 years. Thus, rapid urbanization will drive the growth of the resilient flooring market.
Key Industry Players
Major companies operating in the resilient flooring market include <b> Mohawk Industries Inc., Tarkett S.A, Shaw Industries Group Inc., Armstrong World Industries Inc., Forbo Flooring UK Ltd., Global Flooring Group, Interface Inc., Beaulieu International NV, Novalis Innovative Flooring, Congoleum Corp., IVC Group of Belgium, Amtico International Co. Ltd., Mannington Mills Ltd., Unilin of Belgium, Milliken and Company, De Nora India Limited, Fatra AS, American Biltrite Inc., Polyflor Ltd., Burke Industries Inc., Karndean International Limited, Berkshire Hathaway Inc., Alite floor LLC, Pergo Pvt. Ltd., DLW Flooring GmbH, Metroflor Corporation, Raskin Industries LLC, Parterre Flooring Systems LLC, Gerbert Limited, LG Hausys Ltd., Hanwha L&C Corporation, Metroflor Corporation, Parterre Flooring Systems, Burke Industries Inc., Creative Panel Solutions </b>
The resilient flooring market report table of contents includes:
1. Executive Summary
2. Resilient FlooringMarket Characteristics
3.Resilient Flooring Market Trends And Strategies
4. Resilient Flooring market analysis
5. Resilient Flooring Market Size And Growth
6.Resilient Flooring. Segmentation
7.Resilient Flooring Regional And Country Analysis
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27. Resilient FlooringCompetitive Landscape And Company Profiles
28. Resilient FlooringKey Mergers And Acquisitions
29.Resilient Flooring Future Outlook and Potential Analysis
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