Report Overview
The Global Flooring Materials Market is expected to grow at a CAGR of 5.2% during the forecast period (2024-2031).
Flooring materials are made from natural materials such as cullet, sand, limestone, soda ash, etc. Flooring materials are used to provide better durability and to provide an elegant appearance. There are several types of hardwood flooring materials used which can be refinished and newly decorated.
Flooring materials are substantially used to construct floors in various end-user industries such as residential & commercial buildings, manufacturing, food, and beverage, etc.
Market Summary
| Metrics | Details |
| Market CAGR | 5.2% |
| Segments Covered | By Flooring Type, By Material, By Installation, By Application and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The global flooring materials are driven by rising demand in building and construction with growing global investments for infrastructural development projects worldwide. The flooring materials are an integral part of the interior design of any household building and construction. Flooring materials depend on ease of installation, exposure conditions, the kind of maintenance it needs, and the floor's function.
Rising demand for the buildings and constructions sector with the surge in urban populations has propelled the flooring materials market.
Flooring materials are widely used for floorings of huge commercial buildings, households, bathrooms, kitchens, etc. It provides stain proofing and is easily cleanable. Growing residential and commercial sector demand due to urbanization has propelled market growth. For instance, as per the global alliance for buildings and construction (GABC) in 2016, the global buildings and construction sector with flooring area reached an estimated 235 billion m2 and is projected to get more than 230 billion m2 the globe for new buildings and construction. It created a massive demand for the flooring materials market around the world.
The rising demand of the buildings and constructions sector with the surge in urban populations has propelled the flooring materials market.
Flooring materials such as glass, carpet & rugs, tiles, brick, rubber, stone, acid-resisting, magnesite, P.V.C./vinyl, and wood materials are widely used in buildings construction. For instance, as per the we forum organization, global total annual revenues generated through buildings and construction sectors reached US$ 10 trillion, which accounted for 6% of the global G.D.P. Also, the construction industry is increasing at a rate of US$ 3.6 trillion annually. It created a massive demand for the flooring materials market due to the growing building and construction sector.
The growing launch of new flooring materials with advanced technology by the leading players is expected to strengthen the market growth.
Increasing the launching of the advanced technology-based flooring materials by the leading players to ensure rigidity, strength, and high impact resistance to the floors required for the commercial and residential sector may create a huge opportunity for this market's growth. For instance, in January 2019, Mannington Mills, Inc. launched Adura Maxapex—floors of the new product line. The new product launched has high durability, good appearance, and sustainability to the vinyl floors.
The growing launch of new flooring materials with advanced technology by the leading players is expected to strengthen the market growth.
The launch of the advanced technology-based flooring materials by the leading players to ensure rigidity, strength, and high impact resistance to the floors required for the commercial and residential sector may create huge opportunities for this market's growth. For instance, in January 2019, Mannington Mills, Inc. launched Adura Maxapex—floors of a new product line. The new product launched has high durability, good appearance, and sustainability to the vinyl floors.
COVID-19 Impact Analysis on Market
The global flooring materials market has shown immense declination due to the Covid-19 pandemic, as several manufacturing industries were closed. We have restricted production activities during the covid-19 pandemic. Further, the textile & apparel growth was also declined due to low demand in June 2020. For instance, as of 5th June 2020, Construction investments in India have been reduced by 12 to 16% from 7.3 lakh crore from Rs 8.6 lakh crore in 2019 to 2020.
However, the flooring materials demand is slightly increased in August 2020, as several leading manufacturers started production. The leading manufacturers of flooring materials have planned to enhance the output due to the sudden growing demand in August 2020. For instance, as of June 2020, several leading construction companies have designed to improve the construction facilities 2020 with a huge pipeline of projects in the infrastructure sector. The flooring materials market will increase as soon as the pandemic will over.
Market Segmentation Analysis
The global flooring materials are segmented on flooring type, materials, installation application, and region.
Rising demand for concrete as a flooring material due to high durability and low cost around the globe with the surge in buildings and construction demands
In terms of the floor type, the global flooring materials market is divided into glass, carpet & rugs, tiles, brick, rubber, stone, acid-resisting, terrazzo, magnesite, P.V.C./vinyl, wood, concrete, mosaic, cork, linoleum, and others. Among these, the concrete segment had the largest market share in 2019. This is due to a surge in demand by the huge buildings and construction sector due to its high durability and impact resistance, and high mechanical properties to withstand a load.
Also, carpets and rugs are segmented into carpet roll, carpet tile, and rugs. Among these, carpet rolls had the market share in 2019; this is primarily due to increasing commercial offices with a surge in infrastructure development projects worldwide. Further, tiles are segmented into ceramic tiles, vitrified tiles, porcelain tiles, and others. Among these ceramic tiles, the segment had the highest share in 2019; this is primarily due to its high durability and high impact resistance.
Concrete flooring material is used for any construction type because it is cheaply available, and high demand for flooring across household and commercial building construction. Cement Concrete mix is used in the proportion between 1:3:6 to 1:5:10 of cement, sand, and the mixture of other materials and lime concrete with 40% 1:2 lime sand mortar 60% coarse aggregate for basement. The global flooring material als segmented into marble, granite, limestone, sandstone, slate, Kota stone, and travertine, depending upon the stone. The limestone segment had the highest market share in 2019, primarily due to the material's low-cost, high efficiency. The vinyl/PVC segment is divided into vinyl sheets and luxury vinyl tiles. Among these, vinyl sheets are commonly used for new buildings and construction. Further, wood is segmented into laminate wood, engineered wood, and solid wood. The laminate wood segment had the highest market share in 2019, primarily due to a surge in demand for new decoratives.
Further, rubber is segmented into acid-resisting, terrazzo, magnesite, mosaic, cork, linoleum, etc. Among these, acid-resisting had the highest market share in 2019, primarily due to the industrial sector's increasing demand.
Rising demand for the global building and construction spending surge has propelled the base material segmental growth for this market.
The global flooring materials are bifurcated into floor base material, floor covering material and under-mount material in terms of materials. The floor base material segment had the highest market share in 2019. This is primarily due to rising global building and construction spending due to the growing urban population. For instance, international building and construction spending reached around US$ 4.6 trillion due to growing urbanization around the globe. It created a massive demand for the flooring base segmental growth in the world.
Increasing new construction demand for flooring materials due to growing urbanization has propelled the market growth.
Based on the installation, the global flooring materials market is divided into retrofitting and new construction. Among these, the new construction segment had the highest market share in 2019. This is primarily due to the increasing global demand for flooring materials with the surge in urbanization. For instance, as per our world data organization, the global urban population reached around 4.2 billion and is projected to reach 6 billion by 2045. It created a massive demand for the growth of the global flooring market.
Increasing construction activities around the have propelled commercial segmental growth.
Depending upon the application, the global flooring material market is segmented into commercial, residential, industrial, and institutional. The commercial segment had the largest market share in 2020, primarily due to rising construction activities for offices, hotels, etc. The commercial segment is divided into corporate offices, shops, supermarkets/hypermarkets and shopping malls, hospitals, clinics, etc. Among these, corporate offices had the highest market share in 2019, primarily due to global infrastructure development.
Market Geographical Share
Asia-Pacific region holds the largest market share global flooring materials market.
Asia-Pacific region is dominating the global flooring materials market accounted for the largest market share in 2019 due to several manufacturing companies related to food and beverages, growing population demand, and increasing investment by the leading players in this region North America and Europe. Further growing government and private companies' investment with increasing building & construction activities in the Asia-Pacific region has propelled the demand for the flooring materials market in this region.
As per the global alliance for buildings and construction (GABC), Chinese investment in residential construction activities reached US$ 27 billion in 2018, which increased by 33% from 2015.
Similarly, the North American region is also growing faster due to increasing infrastructure development projects in this region, followed by Europe. As per the organization mentioned above, in the United States, both residential and non-residential construction reached US$ 1.4 trillion, increasing at a rate of 3.8% from 2015 to 2018.
Companies and Competitive Landscape
The flooring materials market is competitive moderately due to the presence of global and local companies. Some of the major players which are contributing to the growth of the market include Bormioli Rocco S.p. A, Piramal Enterprises Ltd, Amcor plc, Hindustan National Glass & Industries Limited, Koa Glass Co., Ltd, Orora Packaging Australia, Rockwood & Hines Glass Group, Shanghai Vista Packaging Co, Şişecam Group, Stölzle-Oberglas GmbH, Nihon Yamamura Glass Co., Ardagh Group S.A., HEINZ-GLAS GmbH & Co. KGaA, B.A. Glass Group, Consol, Vidrala, Wiegand-Glas GmbH, Gerresheimer AG, Vetropack and among others.
The key players are launching new innovative products and adopting several growth strategies such as acquisitions and collaborations, contributing to the growth of the flooring materials market globally. For instance, in October 2018, Johns Manville launched a cavity shield for insulation that is formaldehyde-free. It is an innovative solution for large spaces that increases the insulation product's width.
Also, in January 2019, Arabian Tile company Ltd. Launched Terrazzo tiles new flooring solutions. It enhances the company's revenue generation of flooring solutions.
Ardagh Group:
Overview: Ardagh Group is headquartered in Luxembourg with the largest producer of glass and metal products. The company supplies its glass and metal packaging products for pet food, beverages, seafood products, oils, vinegar, vegetables, condiments, and other consumer products.
Product Portfolio: The product portfolio of the company for flooring materials includes
- Glass: The company provides glass for home and office decoration and food and beverages industries
Johns Manville: Johns Manville is a manufacturer of flooring materials, roofing materials, insulation, and engineered products. The company is headquartered in Denver, Colorado, United States. The company has more than 7,000 employees with 43 manufacturing and sales locations across 80 countries in North America, Europe, and China.
- Product Portfolio: The company's product portfolio of flooring materials includes: Resilient Flooring and thermal insulation products
- Resilient flooring includes:
- Glass Mat: Glass nonwovens wet-laid produced for resilient flooring.
- Eveleth 76 series
- Polyester Spunbond: It is nonwoven synthetic Spunbond resilient flooring.
- Products include: Evalith 332, Evalith 333
Key Developments:
- On 20th June 2020, Johns Manville launched a complete product portfolio of water-repellent mineral wool products for supporting industrial developments, the products launched by the company include:
- Minwoo-1200 Metal Mesh Blanket
- Minwoo-1200 Pipe
- Minwoo-1200 Mitered Fittings
- Minwoo-1200 Industrial Board
- Minwoo-1200 Flexible Batt
- Minwoo-1200 Pipe and Tank Wrap
- MinWool-1200 Lamella Tank Wrap
