Resilient Flooring Market Size, Share & COVID-19 Impact Analysis, By Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum, and Others), By Application (Residential, Commercial and Others), and Regional Forecast, 2020-2027

The global resilient flooring market size was USD 29.62 billion in 2019 and is projected to reach USD 58.11 billion by 2027, exhibiting a CAGR of 9.3% during the forecast period.

The evolving innovative technologies and building designs have induced the popularity of resilient flooring among interior designers. The increased combination of3D printing technologyin tiles and building products has fueled the demand among consumers. In order to meet the increased demand for such products, key players are investing heavily in the market. For instance, in March 2020, Hong Kong-based Novalis Innovative Flooring planned to open a new luxury Vinyl Tile manufacturing facility in the U.S. with around US$ 30 million investments. In this new manufacturing facility, the company is aiming to manufacture rigid core luxury vinyl tile with advanced technologies. Responsive industries based in India has planned to open new 100 stores to strengthen their brand presence in 2020.

Impact of COVID-19 Global Pandemic on the Market

Slow-moving Construction Industry to Retard Business During COVID-19 Pandemic

私人&戈夫COVID-19爆发已停止rnment construction activities globally. There are gradual lockdowns, shortage of manpower, and raw materials that have interrupted ongoing construction work and delayed new construction projects. Also, most of the ongoing projects in the U.S., China, Japan, India are facing irregularity in work due to supply chain constraints and limited access to on-site projects. As per the U.S. Chamber Study, around 87% of contractors reported delays in their construction work amid COVID-19 pandemic in the U.S. However, with proper government guidelines, construction projects will resume, which is further expected to spur demand. Moreover, extended support from regional governments in terms of tax policies and financial incentives are expected to support market recovery.

LATEST TRENDS

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Rising Environmental Concerns and Use of Recycled Materials are Emerging Market Trends

The increasing environmental concerns and strict government regulations have led to the demand for sustainableflooringsolutions. Leading players in the market are focused on introducing more sustainable flooring solutions. For instance, in March 2020, Interface Inc. introduced a new Luxury Vinyl Tile (LVT) under the ‘Brushed Line’ brand. These products are produced with 39% pre-consumer recycled material. The company also includes the same material in other LVT products such as Level Set, Studio Set, Steady Stride, and Criterion.

DRIVING FACTORS

Rapid Adoption in Commercial and Residential Construction to Drive Market

住宅和商业建筑承包商s are installing different kinds of resilient floorings owing to their advantages. These products provide a smooth surface and are easy to clean & maintain. Also, the ability to resist moisture makes them suitable for application in the bathroom or kitchen. Besides, the growing importance of the Leadership in Energy & Environment Design (LEED) rating system in the construction industry is paving the way for innovative interior designs. Thus, most of the vinyl floor coverings, which are traded with LEED ratings are gaining importance among green building contractors around the world.

RESTRAINING FACTORS

Wide Availability of Other Flooring Products to RestrictMarket

Substitute to resilient floor coverings such as carpets, area rugs, laminates,ceramic tiles, stone tiles are widely marketed and used in building and construction. According to the Floor Covering Weekly Statistical Report, the U.S. floor covering market is dominated by non-resilient floor coverings and holds more than 75% value share in 2018. Therefore, the wide acceptance of resilient flooring substitute products is a key challenge for the growth of the market.

SEGMENTATION

By Product Type Analysis

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Luxury Vinyl Tile Segment to Hold the Largest Share in the Global Market

Luxury vinyl tiles (LVT) are available in a variety of styles and patterns that mimics the appearance of wood or stone. Most of LVT comes in the do-it-yourself formats, which are relatively easy to install. LVT’s are coated with polymers such aspolyurethane, which offers excellent stain & scratch resistance and improves overall performance. Moreover, new LVT product launches by leading manufacturers are driving the growth of this segment in the market. For instance, in 2019, Mohawk Industries announced the full consumer launch of ‘Pergo Extreme luxury vinyl floorings’.

Vinyl sheets, which mimic wood, stone, metal flooring are trending among renters. These sheets are easy to install & remove and provide a combination of durability and aesthetic appeal. Changing design patterns of rubber tiles are extending their applications in kitchens, living rooms, sports academies, educational institutes, and in many commercial spaces. The comfort feeling underfoot and moisture endurance driving the growth of therubbertile segment. Linoleum is made with natural materials mainly from solid linseed oil and fillers. Biodegradable nature, no emission of harmful VOCs, durability, and lower maintenance are key driving factors for linoleum flooring in the global market.

By Application Analysis

Commercial Segment to Account for the Largest Resilient Flooring Market Share in the Global Market

Commercial sectors such as corporate offices, retail stores, educational institutes, sports clubs are adopting resilient products as an affordable and durable flooring solution. These products are durable and can last long in a crowded area. Moreover, the combination of aesthetic appeal and intense sound absorption makes it ideal for commercial applications. Increasing private investment in commercial infrastructure development is creating potential opportunities for growth of the market. Leading hypermarket players such as LuLu Group planned to invest around USD 270 million to establish 15 new hypermarkets in Saudi Arabia by 2020.

REGIONAL INSIGHTS

Asia pacific Resilient Flooring Market Size, 2019 (USD Billion)

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Asia Pacific was the leading region in 2019 and it is expected to grow at the highest CAGR of 10.3% during the forecast period. Factors such as rapid urbanization, industrialization, infrastructural developments in emerging Asian countries such as China, India, Vietnam among others are creating a lucrative demand for vinyl floorings. Increasing private investment in retail, housing, commercial, and hospitality sectors is promoting the growth of the regional market in the Asia Pacific. According to the India Brand Equity Foundation, the real estate sector in India is projected to reach a value of US$ 1 trillion by 2030. Moreover, as per the same source, in India, the office leasing space across the eight major cities reached more than 60 million square feet in 2019.

KEY INDUSTRY PLAYERS

Leading Players are Focused on New Products to Meet the Growing Demand

There are local as well as global players operating in the market. Therefore, due to increasing competition, major players are focusing to develop new products and to broaden their consumer base across the world. For instance, Interface Inc., one of the leading manufacturers of resilient floorings is developing new products by incorporating recycled material to reduce carbon footprints. Interface Inc. is working to become a carbon negative enterprise by 2040.

LIST OF KEY COMPANIES PROFILED:

• Mohawk Industries (USA)


• Tarkett S.A. (France)


• Shaw Industries Group Inc. (USA)


• Armstrong World Industries Inc. (USA)


• Mannington Mills, Inc. (USA)


• Forbo Flooring (The Netherlands)


• LG HAUSYS (South Korea)


• Gerflor Group (Germany)


• Interface Inc. (USA)


• Beaulieu International Group (Belgium)


• Novalis Innovative Flooring (China)


• Polyflor Ltd. (UK)


• Congoleum (USA)


• NOX Corporation (South Korea)

KEY INDUSTRY DEVELOPMENTS:

• January 25, 2018:Tarkett S.A. planned to invest 70 million euros over the next three years to expand the production capacity of luxury vinyl tiles in Europe and North America. The company planned to invest 50 million euros in the Alabama production facility, North America, and the rest in European production facilities in Poland & Luxemburg.

REPORT COVERAGE

An Infographic Representation of Resilient Flooring Market

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The resilient flooring market research report provides both qualitative & quantitative insights into the global market. Quantitative insights include the global market sizing in terms of value (USD Billion) & Volume (Million Square Feet) across each segment, sub-segment, and region profiled in the scope of the study. Also, the report covers market share analysis and growth rates of segments, sub-segments, and key counties across each region. Qualitative insight covers an elaborative analysis of market drivers, restraints, growth opportunities, key trends related to the market. The competitive landscape section covers detailed company profiling of the key players operating in the global market.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2016-2027
Base Year	2019
Forecast Period	2020-2027
Historical Period	2016-2018
Unit	Value (USD Billion) and Volume (Million Square Feet)
Segmentation	Product Type, Application and Geography
By Product Type	Luxury Vinyl Tile Vinyl Sheet & Floor Tile Rubber Linoleum Others
By Application	Residential Commercial Others
By Geography	North America By Product Type By Application By Country The U.S. Canada Europe By Product Type By Application By Country Germany UK France Russia Rest of Europe Asia Pacific By Product Type By Application By Country China India Japan ASEAN Rest of Asia Pacific Latin America By Product Type By Application By Country Brazil Mexico Rest of Latin America Middle East & Africa By Product Type By Application By Sub-Region Middle East Africa