Flooring Market Summary, Critical Success Factors (CSFs) & Analysis Till 2020
“The global flooring market to reach USD 326.38 billion by 2020. Innovations and new developments in construction solutions and floor designs have been the key drivers of the flooring market.�
The global Flooring Market to reach USD 326.38 billion by 2020. Innovations and new developments in construction solutions and floor designs have been the key drivers of the flooring market. The industry depicts high competitiveness as numerous companies are offering a broad range of solutions in commercial, residential, industrial and various other sectors. The market for floor coverings is hugely influenced by new technological developments and styling trends. In the last few years, end-users have been shifting from traditional flooring solutions and moving towards ecofriendly and highly cost-effective flooring materials that include cork, bamboo, linoleum, polyester, glass, reclaimed hardwood, and rubber. Moreover, changing consumer lifestyles along with increasing demand from the construction industry and insulation markets are likely to drive the demand over the years ahead. Due to the availability of advanced construction materials that offer durability and require less maintenance, the industry growth is expected to be favorable over the years ahead. However, a major factor influencing the industry growth is awareness among consumers & their willingness to use the product. Flooring solutions are perceived as complex from the installation point of view. Additionally, they are generally viewed as luxurious and expensive. These consumer perceptions might act as a key challenge to the industry. Rising concerns regarding environmental impacts of the flooring material is likely to have a significant effect on the textile flooring industry. For instance, carpets that are treated with harmful chemicals in order to repel soil and moisture to prevent moths are likely to cause health problems.
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