PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419076
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419076
Resilient Flooring Market size was valued at USD 39,100.2 Million in 2022, expanding at a CAGR of 7.1% from 2023 to 2030.
Any type of floor covering that isn't made of wood, textiles, stone, concrete, or ceramics is considered resilient flooring. Because resilient flooring has a small spring back to it, it feels nice underfoot. The design of resilient flooring prioritizes comfort, adaptability, and durability.
The main drivers of market growth are the advantages of resilient flooring over other flooring options, including impact and waterproofing, scratch resistance, odor-proofing, along with durability. Furthermore, as modern workspaces and offices proliferate and urbanization picks up speed, the market for resilient flooring is expected to rise even faster. increased product penetration in the residential sector, which is reflected in the rise in single-family homes and the nation's expanding demand for replacement homes. The demand for resilient flooring in residential applications has been largely driven by the recovery of the home construction industry following the worst recession in history.
With the interior segment and real estate growing at an exponential rate, floor covering options, accessories, and equipment have become increasingly important. Since the product is affordable and has a longer lifespan than traditional alternatives, its dominance is anticipated to persist.
The Global Resilient Flooring Market is segmented on the basis of Product Type, Application, End-User, and Region.
The market is divided into five categories based on Product Type: luxury vinyl tiles, vinyl sheet & floor tile, linoleum, cork, rubber. The luxury vinyl tiles segment dominates the market. The high preference for vinyl tiles across chemical, pharma is boosting segment growth.
The market is divided into three categories based on Application: residential, commercial, and industrial. The industrial segment dominates the market and is likely to maintain its dominance during the forecast period. The high demand from manufacturing, pharma sector is majorly boosting the market growth.
The market is divided into six categories based on End-User: Retail, healthcare, manufacturing, chemical, food, and others. The manufacturing segment dominates the market and is likely to maintain its dominance during the forecast period. Increased need for resilient flooring at manufacturing sites is boosting the product demand.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Resilient Flooring market is formed by small and large companies, with well-established firms setting the trends for the industry. Most of these organizations focus on forward integration by providing their goods directly to end-users across multiple industrial verticals. Some of these companies communicate with their clients worldwide by utilizing an established sales and distribution network to expand their reach across the globe.
In April 2023, Beaulieu International Group attained Signature Floors for consolidation its position in the resilient flooring market in Australia and New Zealand.
In November 2022, Fatra AS introduced the modern assortment of MARILO vinyl tiles which is a heterogeneous type of glued flooring.
The scope of this report covers the market by its major segments, which include as follows: