Hard-Surface Flooring Market Overview
Hard Surface Flooring Market Size is expected to reach USD 51,480 Million by 2033. Hard-surface industry size accounted for USD 39.501 Million in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.12% from 2023 to 2033.The global hard-surface flooring market is experiencing rapid growth due to increasing construction activities, urbanization, and demand for aesthetically pleasing and durable flooring options. Hard-surface flooring includes materials like ceramic tiles, vinyl, wood, laminate, and stone. These flooring options are widely used in residential, commercial, and industrial buildings.
The COVID-19 pandemic has significantly impacted the global Hard-Surface Flooring market. The construction industry, which is the major end-user of hard-surface flooring, has been severely hit by the pandemic due to disruptions in supply chains, labor shortages, and declining demand for new construction projects. The lockdown measures implemented by several governments to contain the spread of the virus have resulted in the closure of manufacturing facilities, which further affected the supply of hard-surface flooring products.The pandemic has also affected consumer behavior, with many people staying at home and opting for DIY home improvement projects. This trend has resulted in a shift towards renovation projects and an increased demand for hard-surface flooring products. Moreover, the rising awareness about maintaining cleanliness and hygiene in homes and public spaces has led to an increased demand for hard-surface flooring materials that are easy to clean and sanitize.
Global Hard-Surface Flooring Market Growth Factors
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Growing Preference for Luxury Flooring
Luxury flooring options like marble and granite are preferred due to their durability, aesthetic appeal, and ease of maintenance. These materials are used in high-end residential and commercial buildings, leading to a surge in demand for these materials. Marble and granite are considered timeless materials, and their popularity is not expected to diminish anytime soon.
Global Hard-Surface Flooring Market Restraining Factors
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High Installation and Maintenance Costs
The installation of hard-surface flooring materials requires specialized tools and expertise, making it an expensive process. Moreover, maintaining these materials requires specific cleaning agents and regular polishing, adding to the overall cost. This cost factor can hinder the growth of the hard-surface flooring market, especially in developing countries.
Global Hard-Surface Flooring Market Opportunity Analysis
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The growing demand for durable, low-maintenance, and aesthetically appealing flooring options.
The global hard-surface flooring market is expected to experience significant growth opportunities in the coming years. The market is driven by factors such as the growing demand for durable, low-maintenance, and aesthetically appealing flooring options in residential and commercial applications. In addition, the increasing use of hard-surface flooring in the healthcare and education sectors for hygiene and easy maintenance is also expected to drive market growth.
Furthermore, technological advancements in the manufacturing of hard-surface flooring products such as vinyl, porcelain, and ceramic tiles are expected to create new opportunities for market growth. For example, the development of advanced printing techniques for vinyl flooring has led to the production of highly realistic flooring designs that mimic the appearance of natural materials such as wood and stone.
Global Hard-Surface Flooring Market Segment Analysis
Based on the Type, the global Hard-Surface Flooring market has been divided into Ceramic Flooring, Wood and Laminate Flooring, Vinyl Flooring, and Others. 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. It is also relatively affordable compared to other types of hard-surface flooring.
The nonresidential buildings segment is expected to hold the largest share of the market in 2023
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. Nonresidential buildings require flooring that can withstand high traffic and heavy use, making hard-surface flooring a popular choice.
Global Hard-Surface Flooring Market Regional Analysis
Regional Coverage:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Australia
- Malaysia
- Thailand
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
North America Market
The North Americanregion is the leading market for Hard-Surface Flooring. the increasing construction activities and renovation projects in residential and non-residential buildings. The region is witnessing a growing demand for hard-surface flooring owing to its durability, easy maintenance, and aesthetic appeal. Additionally, the increasing awareness among consumers regarding the benefits of hard-surface floorings, such as improved air quality, resistance to stains and scratches, and longer lifespan, is driving the growth of the market in North America. The use of sustainable materials, such as bamboo and cork, in hard-surface flooring is also gaining popularity in the region, further contributing to market growth. Moreover, the presence of major manufacturers in the region and their focus on product innovation and development is expected to boost the growth of the market in North America.
Asia Pacific Market
The Asia Pacific region is expected to have the highest compound annual growth rate (CAGR) in the Hard-Surface Flooring market, primarily due to the rapid urbanization and increasing construction activities in emerging economies such as China and India. The growing demand for residential and commercial buildings, along with the increasing awareness of the benefits of hard-surface flooring, is expected to drive market growth in this region. Additionally, the presence of key players in the region and the rising disposable income of consumers are also contributing factors to the growth of the Hard-Surface Flooring market in the Asia Pacific region.
Competitive Landscape
The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as Mohawk Industries, Tarkett, Armstrong Flooring, and Mannington Millsare some of the leading players in the global Hard-Surface Flooring market. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.
Key Market Players:
- Mohawk Industries
- Tarkett
- Armstrong Flooring
- Mannington Mills
- Congoleum
- Crossville
- Florida Tile
- Interceramic
- Kronotex
- Mullican Flooring
Market Share Acquisition Strategies: Analysis of Key Approaches Employed by Top Players
On March 31, 2021, Tarkett announced the launch of its new luxury vinyl tile (LVT) collection, called ProGen. The collection is designed for use in commercial settings and features durable construction.
Report Scope:
Global Hard-Surface Flooring Market, by Type
- Ceramic Flooring
- Wood and Laminate Flooring
- Vinyl Flooring
- Other
Global Hard-Surface Flooring Market, by Application
- Residential Buildings
- Nonresidential Buildings
- Transportation
Global Hard-Surface Flooring Market Synopsis:
| PARAMETER | VALUE |
Market Size |
· 2023: USD 39.501 Million· 2033: USD 51,480 Million |
Growth Rate |
· First 5 Years CAGR (2023–2028): XX%· Last 5 Years CAGR (2028–2033): XX%· 10 Years CAGR (2023–2033): 5.12% |
Key Market Drivers |
· Growing Preference for Luxury Flooring |
Key Market Restraints |
· High Installation and Maintenance Costs |
Market Opportunities |
· The growing demand for durable, low-maintenance, and aesthetically appealing flooring options |
Key Market Players |
· Mohawk Industries· Tarkett· Armstrong Flooring· Mannington Mills· Congoleum· Crossville· Florida Tile· Interceramic· Kronotex· Mullican Flooring |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Hard-Surface Flooring market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
- Historical market size for the year 2021, and forecast from 2023 to 2033
- Hard-Surface Flooring market share analysis for each segment
- Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
- To identify and understand the various factors involved in the global Hard-Surface Flooring market affected by the pandemic
- To provide year-on-year growth from 2022 to 2033
- To provide short-term, long-term, and overall CAGR comparison from 2022 to 2033.
- Provide Total Addressable Market (TAM) for the Global Hard-Surface Flooring Market
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