PUBLISHER: The Business Research Company | PRODUCT CODE: 1428408
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428408
Hard surface flooring refers to flooring materials that are durable, non-porous, and resistant to wear, providing a solid and enduring surface for both residential and commercial areas. Materials such as hardwood, laminate, tile, vinyl, and concrete fall under this category, offering stability and ease of cleaning in a variety of indoor settings.
The primary types of products within hard surface flooring include vinyl flooring, vinyl sheet, vinyl composition tile, rubber flooring, cork flooring, asphalt flooring, linoleum flooring, and others. Vinyl flooring, a specific type of hard surface flooring, is a synthetic material recognized for its durability and functionality. It offers a broad range of designs and is relatively easy to install. Various surfaces, including seamless flooring, wood flooring, and laminate flooring, can be installed using methods such as glue-down, floating, nail or staple, and click-lock. These products are distributed through channels such as online retail, offline retail, and others, catering to applications in residential buildings, non-residential buildings, and transportation.
The hard surface flooring market research report is one of a series of new reports from The Business Research Company that provides hard surface flooring market statistics, including hard surface flooring industry global market size, regional shares, competitors with a hard surface flooring market share, detailed hard surface flooring market segments, market trends and opportunities, and any further data you may need to thrive in the hard surface flooring industry. This hard surface flooring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hard surface flooring market size has grown strongly in recent years. It will grow from $38.24 billion in 2023 to $40.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion during the historical period can be attributed to urbanization, population growth, the expansion of the housing market, economic development, and lifestyle changes.
The hard surface flooring market size is expected to see strong growth in the next few years. It will grow to $49.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be attributed to sustainable building practices, the demand for luxury and customized flooring, increased activities in residential and commercial construction, growth in the real estate market, and the prevalence of renovation and remodeling activities. Key trends expected in the forecast period include the rising popularity of luxury vinyl tiles, an increased focus on sustainable and eco-friendly flooring options, the integration of digital printing technology, a demand for seamless and low-maintenance flooring solutions, and a growing interest in modular and customizable flooring designs.
The anticipated growth of the hard surface flooring market is driven by the increasing volume of construction activities. Construction activities encompass the entire process of building, from planning and execution to the completion of structures. Hard surface flooring, characterized by durability, simplicity of maintenance, and versatility, has become a favored building material for both commercial and residential spaces. The practical and aesthetic advantages of hard surface flooring, including ease of maintenance, customization options, and longevity, contribute to its popularity. A report by Oxford Economics in September 2021 revealed that global construction output reached $10.7 trillion in 2020 and is projected to increase by $4.5 trillion, or 42%, from 2020 to 2030, reaching $15.2 trillion. Consequently, the upswing in construction activities is a driving force behind the growth of the hard surface flooring market.
The growth of the hard surface flooring market is further fueled by the ongoing trend of urbanization. Urbanization refers to the migration of individuals from rural to urban areas, resulting in the expansion and development of cities and towns. This phenomenon often triggers heightened construction activities across residential, commercial, and industrial sectors. Hard surface flooring, including materials such as tiles, hardwood, laminate, and vinyl, gains prominence in construction due to its durability, visual appeal, and ease of upkeep, fostering demand for these flooring options. A report by the United Nations Conference on Trade and Development in July 2022 highlighted the notable urbanization trends in developing economies, particularly in Asia and Oceania, where the urban rate increased from 44.0% in 2012 to 50.6% in 2022. Thus, the escalating pace of urbanization is a key driver behind the growth of the hard surface flooring market.
A prominent trend in the hard surface flooring market is the adoption of technological advancements. Major companies in the market are actively incorporating new technologies and solutions to maintain their competitive positions. For example, in April 2023, Bjelin Sweden AB, a Swedish hardwood flooring manufacturer, introduced a new range of hardened wood 3.0 floors. This innovative line features updated colors, formats, and technologies, including a water-resistant floor-locking system for swift, straightforward, and enduring installation with a watertight joint. The floors also incorporate the proprietary Woodura technology, an environmentally friendly method that produces authentic wood floors that are up to three times more robust than traditional wood.
Continuing with the trend of innovation, major companies in the hard surface flooring market are focusing on developing creative solutions to meet evolving consumer preferences, enhance performance, and promote sustainability in flooring materials. For instance, in June 2023, AHF Products, a U.S.-based manufacturer of durable hard surface flooring, unveiled a new vinyl sheet collection named 'Natralis.' This collection provides products that combine realism, comfort, and durability, mimicking natural materials such as stone, ceramic, and hardwood. The vinyl sheet, available in roll format and customizable sizes, offers easy cleaning and is suitable for high-moisture areas. AHF Products aims to cater to both practical and aesthetic needs in commercial settings through a vibrant and extensive color palette.
In February 2022, Paceline Equity Partners LLC, a U.S.-based private equity firm, completed the acquisition of AHF LLC for an undisclosed amount. This strategic move is expected to enhance the positioning of both companies in the flooring industry, leveraging Paceline's expertise and established industry connections to support AHF's growth, both organically and inorganically. AHF LLC is a U.S.-based hard surface flooring manufacturer.
Major companies operating in the hard surface flooring market report are Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett S.A., Beaulieu International Group, Dal-Tile International Inc., Forbo Holding AG, Interface Inc., LL Flooring Holdings Inc., Gerflor Group, Mannington Mills Inc., Armstrong Flooring Inc., Polyflor Ltd., Congoleum Corporation, Emser Tile LLC., Crossville Inc., Somerset Hardwood Flooring Inc., Boa-Franc Inc., Roppe Corporation, Karndean International Limited, Quickstep, Marazzi Group S.R.L., Faus Group Inc., NOX Corporation, Mullican Flooring L.P., Provenza Floors Inc., Urban Global LLC., Novabell S.P.A., Kentwood Floors Inc., Us Floors Inc., Johnsons Premium Hardwood Flooring Inc.
North America was the largest region in the hard surface flooring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hard surface flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hard surface flooring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The hard surface flooring market consists of sales of ceramic, natural stone, hardwood, linoleum, and terrazzo. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hard Surface Flooring Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hard surface flooring market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hard surface flooring ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hard surface flooring market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.