The recently released Fact.MR report predicts a steady 5.5% CAGR in terms of volume for the global resilient flooring market between 2017 and 2026. Over US $ 10,000 million in resilient flooring is projected to be sold globally by 2026-end.
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Rapid urbanization and industrialization has resulted in an immediate and high demand for resilient flooring in industrial areas, IT parks and residential projects. The dramatically increasing number of home improvement and renovation jobs due to changing consumer trends as well as lifestyle means that resilient flooring is in high demand in the residential sector. In addition, fiberglass flooring has been gaining momentum lately, which can be attributed to its superior strength and lightness properties. The excellent insulating properties of fiberglass due to the availability of reinforced materials further complement its demand.
Resilient flooring manufacturers have made many technological advances and product developments to improve the performance of their products. Eco-friendly floors, which include rubber, cork, hardwood, bamboo, glass and linoleum, are seeing significant demand in residential and non-residential environments, thereby driving the growth of the global resilient flooring market in the near future.
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5 main prospects for the elastic flooring market for the forecast period 2017-2026 (In terms of volume)
- Europe will continue to be the largest resilient flooring market, followed by Asia Pacific, excluding Japan (APEJ) and North America. By the end of 2026, it is projected that more than 40% of the market will come from resilient flooring sales in Europe. APEJ and North America together will account for approximately half of the market share during the forecast period.
- The resilient flooring market is expected to show the fastest expansion in APEJ and North America through 2026. The European and Latin American market is projected to grow on average above average until 2026.
- Depending on the type of material, vinyl should account for the lion’s share of the market, with sales forecast to exceed 1,200 million square meters by the end of 2026. Meters. Linoleum is slated to make up the bulk of the market, with CAGR sales slightly higher than vinyl through 2026. While cork is expected to represent the smallest market share, its sales are expected to grow the fastest through 2026.
- Taking into account construction activities, renovation will account for more than three-quarters of the market share during the forecast period. Sales of resilient flooring for renovation are expected to exceed 1,500 million square meters by the end of 2026. Sales for use in new construction will reflect a relatively faster expansion through 2026.
- Resilient flooring is expected to be most in demand from non-residential end-users during the forecast period, with sales accounting for more than two-thirds of the market share by the end of 2026.
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The nature of the global resilient flooring market is highly competitive and players are looking to gain a competitive edge and expand their market position. Outstanding Players identified in the Fact.MR report including Tarkett, Mohawk Group, Mannington Mills, Inc., Congoleum, Beaulieu International Group NV, Berkshire Hathaway Inc., Forbo Holding AG, Burke Industries, Inc., Armstrong Flooring and Karndean International Limited … … Resilient flooring manufacturers are focusing on developing innovative products and improving advertisements such as online catalogs. Expansion of the product portfolio, expansion of production capacity, mergers and acquisitions and joint ventures are likely to remain profitable strategies used by market participants.
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