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United States Flooring Market to Grow at a CAGR of 6.50% During 2022-2027, Driven by the Rising Demand for Renovation and Remodelling in the US

According to a new report by EMR titled, ‘United States Flooring Market Report and Forecast 2022-2027’, the market is expected to grow at a CAGR of 6.50% in the forecast period of 2022-2027.

The United States flooring industry is rapidly growing owing to the rising demand for renovation and remodelling activities in the region. The growing population and the increasing disposable income have led to sophisticated lifestyle patterns, which is expected to boost the market for customised flooring products. Further, the demand for non-resilient flooring products, such as laminates and wood, is expected to grow owing to their adoption in the residential and commercial segments as the products are durable and require low maintenance. The rising urbanisation is also expected to increase investments in the United States construction sector, which, in turn, is expected to boost the regional market. The key industry players are also investing in R&D to develop cost-effective products. Meanwhile, the expanding e-commerce sector is simplifying the process of ordering and getting the product delivered, which is expected to further contribute to the flooring market expansion in the United States.

The manufacturers are investing in their businesses to increase their efficiency and dominate the flooring market. For instance, in January 2021, Mohawk Industries, Inc. (NYSE: MHK), one of the key market players, announced its plans to invest USD 22.5 million to expand and modernise its production facility in Carroll County, VA. The project includes the addition of 19,000 square feet to the facility in Hillsville and the installation of new extrusion and loom equipment to increase production speed. Such developments are expected to positively aid the market growth in the coming years.

Market Analysis by Type and Application:

  • The market on the basis of type can be divided into resilient flooring and non-resilient flooring.
  • The major applications of the product include residential and non-residential sectors.

Key Findings of the Report:

  • Increasing investments in the construction industry are expected to drive the flooring market in the United States.
  • The growing population, rapid urbanisation, and changing lifestyle patterns are anticipated to propel the market growth.
  • The market is being supported by the rising renovation and remodelling activities in the residential and commercial sectors in the region. 
  • The rapid technological advancements and the improving e-commerce sector are further aiding the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the flooring market in the United States for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the flooring types and applications.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States flooring market are Mohawk Industries, Inc., Shaw Industries Group, Inc., Armstrong Flooring, Inc., Engineered Floor, LLC, Mannington Mills, Inc., The Dixie Group, Inc., and Tarkett Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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