Global Flooring Market Report and Forecast 2024-2032

Global Flooring Market Outlook

The global flooring market size reached approximately USD 415.50 billion in 2023. The market is projected to grow at a CAGR of 5.6% between 2024 and 2032, reaching a value of around USD 678.50 billion by 2032.

Key Takeaways

• Resilient flooring systems are expected to dominate the market over the forecast period.

• As per the National Wood Flooring Association, in the United States, the hardwood flooring sector contributes USD 4 billion to the US GDP and employs 45,000 people.

• Soaring popularity of patterned luxury vinyl and paraquet effect are among the key flooring market trends.

Flooring refers to the permanent covering of a floor, a crucial component of any building's interior. It encompasses a wide variety of materials and finishes, including hardwood, laminate, vinyl, tile, carpet, and concrete, each offering different aesthetic appeals, durability, and maintenance levels. The choice of flooring depends on the room's function, traffic levels, budget, and personal style preferences.

The global flooring market growth is driven by rapid urbanisation and increasing construction activities worldwide, especially in emerging economies. Innovations in flooring designs, such as luxury vinyl tile (LVT) and eco-friendly options, cater to growing consumer preferences for aesthetics and sustainability.

Technological advancements improve flooring material durability and ease of installation, broadening their application in the residential, commercial, and industrial sectors. Additionally, the rising trend of home renovation and improvement projects, driven by a desire for modernised living spaces, further stimulates the flooring market expansion.

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Key Trends and Developments

Soaring popularity of patterned luxury vinyl; increasing demand for eco flooring; rising use of paraquet effect; and rising appeal for dark wood laminate are key trends impacting the market growth.

Global Flooring Market Trends

Patterned luxury vinyl flooring is significantly contributing to the growth of the market due to its combination of aesthetic appeal, durability, and cost-effectiveness. With advanced printing and texturing technologies, luxury vinyl offers a wide range of designs, from realistic wood and stone patterns to intricate decorative motifs, catering to diverse consumer preferences and interior design trends. Its water-resistant and easy-to-maintain nature makes it suitable for various settings, including residential, commercial, and industrial spaces. Additionally, the ease of installation and affordability offered by such flooring compared to traditional materials like hardwood and stone are attracting both consumers and contractors, further driving the flooring market expansion.

The rising demand for eco-friendly flooring solutions is propelling the growth of the market, as consumers and businesses increasingly prioritise sustainability. Eco-friendly flooring options, such as bamboo, cork, and reclaimed wood, offer both environmental benefits and aesthetic appeal, aligning with the growing trend towards green building practices. These materials are renewable, have lower carbon footprints, and can improve indoor air quality by reducing the presence of harmful chemicals.

Moreover, advancements in recycling technologies for flooring materials like vinyl and carpet are enhancing their sustainability profiles. This shift towards sustainable living is driving innovations, attracting environmentally conscious consumers, and contributing to the flooring market growth.

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Market Segmentation

“Global Flooring Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Resilient flooring is further divided based on type into vinyl, linoleum, and rubber, among others, whereas non-resilient flooring is further segmented into ceramic, laminated, and carpet, among others.

Resilient flooring is expected to constitute a significant portion of the global flooring market share in the coming years

Resilient flooring is anticipated to witness significant growth in the coming years, as such flooring options are easy to install and have lower installation and maintenance costs. Over the forecast period, the growing demand for vinyl flooring, which is preferred in residential and commercial applications due to its ease of installation and cost efficiency, is expected to fuel the segment’s growth.

Vinyl flooring is a durable and versatile option for resilient flooring, which is impervious to moisture, mildew, and mould. Luxury Vinyl Tiles (LVT) find increased usage in commercial sectors like corporate, healthcare, and hospitality due to their cost efficiency, high durability, and low maintenance.

Non-resilient flooring, meanwhile, is anticipated to enjoy considerable popularity in the coming years. Rubber and vinyl flooring, particularly, are witnessing a healthy demand due to their low cost and high durability. The global flooring market growth is expected to be further aided by the rising use of non-resilient flooring in the automobile and shipping sectors.

Competitive Landscape

Major market players are launching innovative flooring solutions for various residential and commercial applications.

Other major market players in the flooring market are Berkshire Hathaway, Inc. (Shaw Industries Group, Inc.), Armstrong World Industries Inc. (AHF, LLC), Forbo Flooring, Interface, Inc., Polyflor Ltd., RAK Ceramics PJSC, Crossville, Inc., Ceramiche Atlas Concorde SpA, Porcelanosa Group, Kajaria Ceramics Limited, and Canadian Flooring.

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Global Flooring Market Regional Analysis

Europe holds a considerable share of the market due to factors such as rising infrastructural development activities and the increasing demand for luxury flooring materials. The National Energy Efficiency Action Plans (NEEAPs) in Europe are encouraging the renovation of pre-existing residential and commercial buildings, aiding the adoption of sustainable flooring materials.

Meanwhile, in North America, hardwood floors are increasingly being preferred due to their lower emissions during their manufacturing process and various manufacturers pledging to combat deforestation. This is expected to drive the global flooring market expansion. The preference for hardwood floors has also surged in the United States amid the growth of the home repair and renovation sectors.

The robustly growing construction and interior designs in the Asia Pacific, particularly in countries like India, South Korea, China, and Japan, among others, are expected to drive the flooring market growth. The flourishing hospitality sector, coupled with the increasing construction of houses, hotels, restaurants, offices, schools, and hospitals, among others, is further creating a favourable market outlook.

Key Highlights of the Report

Flooring Market Report Snapshots

Flooring Market Size

Flooring Market Trends

Flooring Companies