Market Synopsis
Market Research Future (MRFR) in latest study on the Resilient Flooring Market Size 2020 discussed multiple influencing factors in the report. The impact of COVID 19 on the Resilient Flooring Market Size is offered along with the report. The Resilient Flooring Market Size is anticipated to witness tremendous growth in the review period due to the rise in the demand for green building materials for the construction of residential buildings. Resilient Flooring Market Size occupies a Resilient Flooring Market Size value of about USD 73.34 billion during the market forecast period of 2021-2030. It holds a CAGR value of about 10% whereas the market was valued at USD 35.84 billion in 2021.In addition, the introduction of new resilient flooring solutions by top notch producers and their offer for a wide range of flooring products fabricated of lightweight and recycled raw materials can benefit the Resilient Flooring Market Size in the years to come. Development of different floor covering solutions and changing construction solutions trends, often associated with floor design due to industrial development can impel the expansion of the Resilient Flooring Market Size in the years to come. High expenditure by government on infrastructure developments is also likely to drive the rise of the market in years ahead. On the contrary, volatile raw material expenses can hinder the expansion of the global market.
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Resilient Flooring Market Size: Segmentation
The segment evaluation of the Resilient Flooring Market Size is done by product and application.
The product based segments of the Resilient Flooring Market Size are vinyl composite tiles (VCT), luxury vinyl tiles (LVT), linoleum, and vinyl sheets among others. The luxury vinyl tiles segment is expected to emerge as the largest segment by 2030 due to the growing awareness about beneficial features of resilient flooring, such as scratch & scuff resistance, water resistance, and easy maintenance. Luxury vinyl is the most popular choice by manufacturers, which can favor the market.
The application based segments of the what is resilient flooring market are industrial, residential, and commercial. The residential application segment can acquire the largest share by 2024. The expansion of population base across emerging economies, such as India and Brazil is driving the need for residential buildings, which, in turn, can promote the Resilient Flooring Market Size in the years to come.
Resilient Flooring Market Size: Regional Analysis
Trends of the Resilient Flooring Market Size are studied across North America, EU, APAC, and RoW. Asia Pacific Resilient Flooring Market Size is accounted for the highest share of the global market. The Resilient Flooring Market Size in Europe and North America can surge exponentially in the years to come. In Asia Pacific region, the Resilient Flooring Market Size value can experience surge due to robust expansion of the construction industry in emerging economies. The rise in the demand for resilient flooring can support the expansion of the market in the years to come.
In APAC, drastic development across the infrastructure sector due to urbanization and need for IT parks and related industrial areas, plus rise in the number of regional housing projects can impel the expansion of the market in the years to come. The cost-effectiveness of Vinyl Composite Tiles (VCTs) and the rise in their adoption due to excellent durability and high abrasion and resistance, mostly for commercial application can support the expansion of the market.
Key Players
Shaw Floors (US), IVC Group (Belgium), Mohawk Industries (US), Mannington Mills, Inc. (US), NOX Corporation, Novalis (US), Nora (Germany), Milliken & Company (US), Amtico International Limited (UK), and Unilin (Belgium) among others are some reputed names in the Resilient Flooring Market Size as listed by MRFR.
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