TMR_Research_Reports_2017 Global Flooring Market Outlook (2015-2023) | Page 2

Flooring Market
REPORT DESCRIPTION
Flooring (Carpets & Rugs, Tile, Vinyl & Rubber Flooring, Wood
Flooring, and Others) Market for Residential, Commercial, and Other
Applications - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2015 - 2023
Right from classic hardwood to stylish concrete, a number of manufacturers offer a variety of flooring
options as per the lifestyle and budget of the consumer. When selecting flooring materials, durability,
style, cost, and comfort are the key concerns of buyers. As the building and construction industry is
gaining traction, the demand for flooring materials is likely to intensify over the coming years. Home
renovation by the household sector and infrastructural upgrading activities by government bodies are
providing considerable opportunities for the expansion of the global market for flooring.
The global market for flooring was valued at US$214.29 bn in 2014. Expanding at a promising CAGR
of 7.0% between 2015 and 2023, the market is expected to reach US$391.38 bn by the end of 2023.
Solid Infrastructural Growth in Asia Pacific to Burgeon Demand
Asia Pacific was the leader of the global market for flooring in 2014. As a large number of
construction projects are undertaken by private and public entities, the flooring market in Asia Pacific
will continue to flourish. As per recent studies, the healthcare, industrial, and commercial domains
exhibited greater demand, driven by large-scale industrial development. The growth of this region can
also be attributed to the increasing commercial activities in countries such as China and India.
Obtain Report Details @ http://www.transparencymarketresearch.com/flooring-market.html
Other emerging regions such as Africa, Latin America, and GCC can also confer significant
opportunities owing to the considerable rise in their GDP, growing per capita incomes, and increased
corporate earnings. Storm and earthquake-prone regions in Southeast Asia, East Asia, and North
America are also expected to undertake building reconstruction, thereby accelerating the growth of
the flooring market. North America will also witness substantial growth on account of the presence of
numerous large construction industries.
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Transparency Market Research