Resilient Flooring Market Segment Forecasts up to 2023, Research Reports

2024-11-05 04:58:00 News & Society

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Resilient flooring, a blend of natural and synthetic materials, is used as a primary replacement for conventional hardwood flooring. It combines the properties of esthetic flooring. Resilient flooring offers high strength properties owing to combination of polymer materials used in the manufacturing process. Resilient flooring can be segmented into four types - vinyl, rubber, cork, and linoleum - based on raw materials used in the manufacturing process. Other types of resilient flooring include wood and asphalt. Vinyl resilient flooring is expected to continue its dominance in the resilient flooring market in the current decade, as it is economic in nature and offers considerable longevity vis-?-vis conventional flooring. Growth in the construction industry is anticipated to propel the demand for resilient flooring during the forecast period. Significant increase in residential and commercial construction activities is estimated to be the major driver for the resilient flooring market in the near future. In terms of region, Asia Pacific and Europe are projected to be the major markets for resilient flooring in the next eight years. Rise in demand for resilient flooring in end-user industries in Asia Pacific and Europe is likely to boost the market for resilient flooring during the forecast period.

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Vinyl resilient flooring is highly durable and can be manufactured with numerous raw materials. Considering its high flexibility to use different raw materials, vinyl resilient flooring can be employed in various different applications at economical prices. Vinyl resilient flooring is usually available in tile, wood, and stone patterns. Cork flooring is made from the bark of a cork tree. It offers a unique look to flooring. Cork flooring is commonly installed in a floating manner, although it can be glued or nailed. Linoleum flooring is natural ingredient-based flooring, is expected to have slight resurgence in resilient flooring market, owing to the increasing environmental consideration of residential flooring. Thus, in general, resilient flooring offers several advantages and can imitate various textures similar to that of natural stones and woods along with any combination of colors. This makes vinyl resilient flooring the best alternative to hardwood and other types of flooring, as the latter provide limited options of patterns and colors. Rising demand for exclusive flooring patterns for commercial complexes is likely to drive the market for resilient flooring during the forecast period. This trend is anticipated to continue over the next decade at a significant rate.

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In terms of volume, Asia Pacific is anticipated to be the major market for resilient flooring during the forecast period, primarily due to significant and continual growth in the building and construction industry. Considering the tremendous growth in residential and commercial construction, emerging economies such as India, Thailand, Malaysia, and Brazil are estimated to be the biggest markets for resilient flooring in the next few years. Demand for vinyl tiles in the resilient flooring market is projected to remain moderate in developed regions such as the U.S., Mexico, Canada, and Europe owing to the modest growth of the construction industry in these regions. Increase in replacement of hardwood flooring with resilient flooring is likely to drive the market for resilient flooring in Europe in the near future. In a nutshell, developing nations are estimated to be the key markets for resilient flooring during the forecast period.

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Some of the key players operating in the resilient flooring market include Mannington Mills, Inc., American Biltrite Inc., Domco Tarkett inc., Forbo Flooring Systems, Gerflor Group, Shaw Industries Group, Inc., Mohawk Industries, and AWI Licensing Company.

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