TMR_Research_Reports_2017 Flooring Market Report Research 2025 | Page 3

Flooring Market
Geographically speaking, Asia Pacific dominated the global flooring market in
2016, with a share of over 42% in the market’s value. The swiftly expanding
construction industry in APAC is the primary factor driving this regional market,
powered by a high economic growth rate. Asia Pacific is likely to continue playing
a leading role in the global flooring market over the given forecast period. China
is likely to surface as the leading domestic market for flooring components in Asia
Pacific in the years to come.
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Rising Urbanization and Industrialization to Influence Demand for Flooring
Products
With the growing disposable income and expenditure of consumers on better
quality products as well as aesthetically appealing ones, the booming rate of
urbanization has created a significant momentum for the demand for tiles and
other flooring across the world. “The swift rise in urbanization as well as
industrialization has created a considerable increase in the rate of construction
activities, consequently increasing the scope of growth for the global flooring
market,” adds the analyst. The rapid infrastructural developments in developed
economies has increased the demand for flooring products remarkably, boosting
the overall market.
Players Advised to Watch for Fluctuations in Raw Material Costs
In the report’s given forecast period, the expansion in the building and
construction industry in emerging regions is expected to continue being a key
propellant for the global flooring market. However, the players in the market, both
regional and globally prominent ones, need to be careful of the volatile nature of
raw material prices, as this is considered to be a key restraint acting on the
market for the foreseeable future. Raw materials required for flooring are largely
derived from crude oil byproducts as well as multiple other sources, each of
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