Flooring Market worth $331.78 Billion by 2020,at a CAGR of 4.8%.

The "Flooring Market" is projected to reach $331.78 Billion by 2020, at a CAGR of 4.8% from 2015 to 2020. The Asia-Pacific region accounted for around 40% of the market share in terms of value, followed by Europe and North America with shares of 23% and 20%, respectively, in 2015. In recent years, the Asia-Pacific region has tremendously progressed in this market, which primarily includes emerging economies such as India and China. The main driving forces in the Asia-Pacific region include growth in spending capacity, rising urbanized population, and increase in industrialization. Improved living standards in developing economies would demand improved sanitation and hygiene requirements. Cities in the Asia-Pacific economies would hold 54% of the world’s urban population, thereby creating the largest workforce in the world. The emerging economies such as India and China have played a vital role in the rising growth rate of the industry.

Growing urbanization in emerging markets such as China, Brazil, Indonesia, Malaysia, and India are expected to boost the spending for vital infrastructure sectors, such as hospitality, health care, transportation, and retail. Increasing residential applications in emerging markets are also expected to drive the growth of the flooring market.

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The Asia-Pacific region held the second-largest share in infrastructure investment in 2015. The Chinese market is projected to grow at a rate of 6.7% annually over the next 5 years and will remain above the global average of 4.1%. Construction spending in the Asia-Pacific region is projected to account for a share of 31% in 2015 and is projected to increase to 46% by 2020. The flooring market has been growing in line with the construction industry. With increasing awareness about wastage and recycling, people are opting for recycled flooring material, which has had an impact on the market for flooring products.

Scope of the Report:

Based on Type:

• Soft covering
• Resilient
• Non-resilient
• Others

Based on Material:

• Carpets & rugs
• Vinyl
• Tiles
• Wood
• Others

Based on Application:

• Residential
• Non-residential

Based on Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World (RoW)

The Key Players in the market are Mohawk Industries (U.S.), Shaw Industries (U.S.), Armstrong World Industries (U.S.),Tarkett (France), Forbo Corporation (Switzerland), Toli Corporation (Japan), Gerflor (France), The Dixie Group (U.S.), Interface Incorporation (U.S.), Polyflor (U.K.), and Congoleum (U.S.).