Commercial Flooring Market Growth, Opportunities and Forecast To 2025

[sara James]

The global Commercial Flooring Market size is expected to reach approximately USD 47.69 billion by 2025, according to a new report conducted by Grand View Research, Inc. An increasing number of corporate offices in emerging economies including China, India, and Mexico on account of regulatory inclination to promote the manufacturing output on a domestic level is expected to remain a key driving factor over the next eight years.

Furthermore, rising government spending towards improving education infrastructure through the implementation of new schemes including Padhe Bharat Badhe Bharat and Utkarsh Bangla Scheme is expected to have a strong impact. These factors are considered to influence the consumption of construction materials including floor coverings in the education sector and hence boost their market growth.

Increasing government spending on infrastructure development on non-residential structures is expected to play a vital role in augmenting demand for flooring. Moreover, the emergence of India, Taiwan, and Mexico as the upcoming manufacturing hubs will not only result in the establishment of factories but also, in a significant population migrating close to these centers, resulting in the development of new cities or expansion of the existing towns. This factor is expected to play a fundamental role in developing the floorings market over the next few years.

Green buildings offer better cost-effective advantages as compared to conventional buildings. These sustainable structures consume nearly one-third less amount of energy, reduce the overall loads induced on metal structures, and are capable of improving the indoor air quality standards. Furthermore, they incorporate the use of building materials that tend to have a minimalistic harmful impact on the environmental surroundings.

The education segment is expected to foresee volume growth at a CAGR of 5.9% from 2017 to 2025. The growing importance of modular tiles in education spaces for providing moisture resistance and excellent dust control characteristics is projected to have a positive impact on the industry. In addition, high market visibility of carpets in developing countries including China and India on account of the presence of large number soft covering manufacturers on a domestic level is projected to have a positive impact.

Related Press Release@ Commercial Flooring Market Report

Commercial Flooring Market Report Highlights

• The global commercial flooring market was 4,680.0 million square meters in 2016 and is expected to reach 7,903.4 million square meters by the end of 2025, expanding at a CAGR of 6.0% from 2017 to 2025.
• Wood & laminates are expected to foresee revenue growth at a CAGR of 7.0% from 2017 to 2025. Engineered wood, alternately called composite wood consists of a number of wood products manufactured by binding particles, fibers, veneers, and strands of wood, which are joined with adhesives to form composite materials. These products are modeled to supreme design requirements as per the specifications of end-user or client and are tested to meet international and national standards
• Asia Pacific is projected to foresee volume growth at a CAGR of 6.9% from 2017 to 2025. Regulatory support aimed at promoting investments in manufacturing sectors of China and India is expected to increase the number of commercial spaces and thus likely to fuel the demand for floor covering in the near future.
• Key commercial flooring manufacturers include Mannington Mills, Tarkett, Flowcrete, James Halstead, Nora, Milliken Floor Covering, Novalis, Tajima, Tkflor, NOX Corporation, and Toli flooring. Product innovation through the introduction of new designs is expected to remain a key critical success factor for floor-covering vendors.

List of Key Players in Commercial Flooring Market

• Hanwha
• LG Hausys
• China National Building Material Co. Ltd.
• Flowcrete
• James Halstead
• Nora
• Milliken Floor Covering
• Novalis
• Tajima
• Tkflor
• NOX Corporation
• Toli flooring