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Floor CoveringsResilient FlooringTile & Stone FlooringHardwood FlooringLaminate Flooring

Research Group Projects Global Demand Growth for Hard-Surface Flooring to Continue

celestial
REPEL hardwood, Celestial
May 31, 2021

A new Freedonia Group analysis projects global demand growth for hard-surface flooring to continue to outpace that of carpets and rugs and strengthen its already-dominant position in the global flooring market, which totaled 19.4 billion square meters in 2019.

Although there is some differentiation by region, a number of factors are boosting use of hard surface flooring around the world:

  • Both residential and nonresidential users in the large US market will increasingly opt for hard surface flooring over carpeting because of its longer lifespan, low maintenance, and ability to improve indoor air quality.
  • Hard surface flooring products will increasingly be used developing countries as larger shares of the population formalize their housing, leading to the installation of finished flooring.
  • Consumers around the world are increasingly specifying luxury vinyl tile (LVT) products because they have superior performance properties and are increasingly available in more attractive surfaces.

Trends in Resilient vs. Non-Resilient Hard Surface Flooring

The Freedonia Group forecasts demand for hard-surface flooring to increase 2.9% per year to 17.0 billion square meters in 2024.

Non-resilient (i.e., inflexible) flooring, which comprises a wide range of product types – including ceramic, wood, and laminate flooring – is the largest discreet flooring product category on both a value and a volume basis, and will continue to account for a majority of global market gains through 2024. Ceramic will continue to account for the majority of non-resilient flooring demand, in part due to the concentration of ceramic flooring markets in fast-growing developing nations.

The smaller resilient flooring market comprises products characterized by their flexibility or give. Vinyl flooring – which includes vinyl sheet, vinyl composition tile (VCT), and LVT – is by far the most common type of resilient flooring. Other resilient flooring products include linoleum, cork, rubber, leather, and asphalt. Vinyl products – particularly LVT – are expected to register strong growth because of their favorable aesthetics and performance properties.

Find off-the-shelf studies at https://www.freedoniagroup.com/ 

KEYWORDS: international market market reports market trends

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