The Textile Flooring Market is Expected to be Flourished by Rapid Industrialization and Urbanization

 

Textile flooring offers properties such as excellent durability, comfort, acoustic performance and affordability. Textiles used in flooring are durable, hygienic, aesthetic and eco-friendly. Textile flooring is extensively used in commercial and residential sectors for applications like gyms, office spaces, homes etc. The global Textile Flooring Market is estimated to be valued at US$ 184.29 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The high demand from commercial and residential sectors has been a key driver accelerating growth in the Textile Flooring Market. Textile flooring is increasingly being preferred over other flooring options like hardwood, laminate, and tiles in applications such as gymnasiums, dance studios, yoga centers and other commercial spaces. This is due to properties of textile flooring like sound absorption, slip resistance, cushioning and longevity. Rapid growth of the real estate and construction industry has also contributed to the increased demand for textile flooring globally.

Segment Analysis
The global textile flooring market is dominated by the residential segment. The segment currently holds around 68% share of the overall market owing to the use of broadloom carpets and area rugs in homes. Textile flooring provides comfort, warmth, insulation and is cost-effective for residential applications. The commercial segment is the second largest and growing segment primarily due to increasing demand from office spaces, retail stores, educational institutes and public buildings. Healthcare is also emerging as an important end-use segment where textile flooring finds application in operation rooms, patient rooms and corridors due to its anti-fatigue, sound absorption and hygienic properties.

Key Takeaways
The global textile flooring market is expected to witness high growth over the forecast period driven by increasing construction of residential and commercial buildings especially in developing regions of Asia Pacific and Middle East & Africa.

Regional analysis: Asia Pacific accounts for the largest share of around 35% of the global textile flooring market led by countries like China, India and Indonesia. High population, rapid urbanization, growing investment in real estate and infrastructure development are fueling demand in the region. Europe is the second largest market owing to restoration and renovation activities in the residential sector across countries like Germany, UK, France and Italy. North America is a significant mature market however witnessing steady growth supported by expansion of commercial real estate.

Key players: Key players operating in the textile flooring market are Mohawk Industries, Inc., Interface, Inc., Beaulieu International Group N.V, Tarkett SA, Balta Group, Shaw Industries Group Inc., Forbo Holding AG, Mannington Mills, Inc., J+J Flooring Group, and Vorwerk and Co. KG. Companies are focusing on new product development, expansion across regions and acquisition strategies to consolidate their market position. For instance, in 2022, Tarkett partnered with Interface to drive the circular economy through flooring recycling.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatil...
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simp...
Read more

Acid Pickling Roll Market Growth Accelerated by Adoption of Anti-Rust Acid Pickle Rolls

Image
  Acid pickle rolls help remove scale, rust or oxide films from metallic surfaces and accurately prepare them for subsequent processing such as coating or plating to improve corrosion resistance. The demand for acid pickling rolls have increased in various end-use industries such as automotive, oil & gas, marine, energy, and general engineering to enhance product durability. The global Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing adoption of anti-rust acid pickling rolls to increase product lifespan across various corrosion prone industrial applications has accelerated the growth of the acid pickling roll market. Acid pickling rolls equipped with advanced rust removal properties efficiently prepare metallic surfaces and ensure long term corrosion protection. Major mar...
Read more