The report of global resilient flooring market by Product (Luxury vinyl tiles, Vinyl composite tiles, Vinyl sheets, Linoleum, Others), Application (Residential, Commercial, Industrial), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 6% during a forecast period.
Resilient flooring is produced using materials that are essentially elastic and are crucial for the construction industry. It plays an important role in improving the whole atmosphere of a commercial or residential landscape. The global resilient flooring market is driven by the rising construction activities, growing demand for inclusive flooring in commercial residences, and ascend in the number of redesigns and renovating activities. However, the high risk of cut due to small pressure points such as table legs and other such things are restraining the market growth at the global level. The development of the organized retail sector and the rise in demand from developing countries are likely to create beneficial growth opportunities for the resilient flooring industry. The presence of toxic chemicals like phthalates and heavy metals and rising environmental concerns are the major challenge for the market growth in the near future.
Commercial segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the commercial segment has dominated the Resilient Flooring market and is estimated to grow at a CAGR of XX% during the forecast period owing to the higher spending on office spaces and other business & institutional constructions and more concentration toward employee comfort. The rising demand for resilient vinyl floorings in commercial spaces on account of high toughness, low on maintenance, cost-efficient, and appropriate for high traffic applications are the factors supporting the segment growth in the market. Reconstruction activities in commercial spaces need the substitution of flooring materials are foreseen to boost market growth in the coming years.
The Asia Pacific dominated the resilient flooring market in 2019
In 2019, Asia Pacific held the XX% share of the resilient flooring market and is expected to maintain its dominance during the forecast period owing to the existence of a large consumer base, low labor cost, and a high level of resources are projected to fuel the construction industry in the Asia Pacific. North America is expected to grow at the CAGR of XX% during the forecast period owing to developed construction industries and fast infrastructural and industrial advancement combined with supporting full-scale financial factors. In terms of revenue, Europe held the second-largest market share of 37.7% in 2019 thanks to the high demand from residential and non-residential applications.
Key players operating the Global Resilient Flooring market are IVC Group, Mannington Mills, Inc., Mohawk Industries, NOX Corporation, Shaw Floors, Nora, Novalis, Milliken & Company, Unilin, Amtico International Limited, Armstrong World Industries, Inc., Tarkett S.A., Gerflor, Responsive Industries Ltd., Interface, INC., Lonseal Corporation, and Carpet One Australasia Pty Ltd.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Resilient Flooring Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Resilient Flooring Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Resilient Flooring Market positioning of competitors.
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