Flooring Market
New Construction Projects Ensure Expansion of Residential Sector
By application, commercial, residential, industrial, and automotive sectors are some prominent segments of the global flooring market. Of these, the residential sector emerged as the dominant segment in the global flooring market in 2014. The rise in construction activities including construction of new buildings, especially in the emerging economies is responsible for the growth of this end user vertical.
The commercial and industrial applications are also slated for growth over the forecast period thanks to the increasing need for flooring materials in replacement flooring and new projects. The postponing of replacement of flooring in the commercial sector during the economic downturn during 2008 has been a prominent driver of the flooring market in the commercial sector.
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By product, the global flooring market has been segmented into vinyl and rubber flooring, tile, wood flooring, carpets and rugs, and laminate flooring. Wood flooring is available in a range of flooring materials including bamboo, maple, oak, teak, alder, cherry, and white ash. Until recently, wood flooring was the most used flooring material. However, the emergence of newer materials such as resilient, laminate, and rubber has diverted the demand towards these cost-efficient solutions.
During 2014, the carpets and rugs segment held the largest share in the global flooring market. These flooring materials are being increasingly deployed in colder regions of the world owing to the warmth they provide. Tile flooring is expected to be the second largest segment. Tile flooring in used in floor fittings, wall fittings, designing, and for protection from natural elements such as moisture and rain. The growth of infrastructure in the developing and developed countries has been responsible for the increasing demand for tile flooring.
Armstrong World Industries, Inc., Shaw Industries Group, Inc., Boral Limited, Mohawk Industries, Inc., Mannington Mills, Inc., and Tarkett Group are some of the leading players analyzed in the report.
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