Hard-Surface Flooring Market Is Estimated To Record a CAGR of Around 5.12% During The Forecast Period
Evolve Business Intelligence has published a newresearch report on the Global Hard-Surface Flooring Market, 2023–2033. The globalHard-Surface Flooring market is projected to exhibit a CAGR of around 5.12%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has identified the following companies as the key players in the global Hard-Surface Flooring Market: Mohawk Industries, Tarkett, Armstrong Flooring, Mannington Mills, Congoleum, Crossville, Florida Tile, Interceramic, Kronotex, Mullican Flooring
The global Hard-Surface Flooring market is projected to be valued at USD 51,480 Million by 2033, recording a CAGR of around 5.12% during the forecast period.The hard-surface flooring market refers to the market for various types of flooring materials that are durable and long-lasting, providing a hard surface for foot traffic and other activities. These materials are typically used in residential and commercial buildings, as well as in transportation infrastructure such as airports and train stations.
The COVID-19 pandemic has had a significant impact on the hard-surface flooring market, particularly in terms of supply chain disruptions and decreased demand due to economic uncertainty. With lockdowns and restrictions on movement, construction activities have been limited, leading to a decrease in demand for flooring materials. However, the market is expected to recover as economic activities resume and demand for new construction and renovations increases.Another impact of the pandemic has been an increased focus on health and safety measures, which has led to a growing demand for flooring materials that are easy to clean and disinfect. This has resulted in a shift towards materials such as vinyl and ceramic, which are more resistant to bacteria and viruses compared to carpet or other soft flooring options.
The global Hard-Surface Flooringmarket has been segmented based on Type, Application,and region.
Based on the Type, the Hard-Surface Flooring market is segmented based on Ceramic Flooring, Wood and Laminate Flooring, Vinyl Flooring, Other.the ceramic flooring segment is expected to hold the largest share of the market. Ceramic flooring is durable, easy to clean, and can mimic various other materials like stone or wood, which makes it a popular choice for residential and commercial buildings.
Based on Application, the global Hard-Surface Flooring market has been divided into Residential Buildings, Nonresidential Buildings, and Transportation. The nonresidential buildings segment is expected to hold the largest share of the market. This is due to the increasing demand for hard-surface flooring in commercial and institutional buildings, such as offices, hospitals, schools, and public spaces.
The Hard-Surface Flooring market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America is currently the largest market for hard-surface flooring, with a significant share of the global market. Factors contributing to the growth of this market in North America include the increasing demand for eco-friendly and sustainable flooring options, the popularity of DIY home renovation and remodeling projects, and the growing construction industry.In addition, the availability of advanced technology and innovative products in the North American region has also led to the development of new and improved hard-surface flooring options that meet the needs of a wide range of customers.