Flooring Market is Estimated to Reach Revenue of US$ 614.0 Billion by 2031; The … – Press Release

Wilmington, Delaware, United States , June 10, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The Global Flooring Market was valued at US$ 333.6 Bn in 2021 and is anticipated to reach US$ 614.0 Bn by 2031, expanding at a CAGR of 6.4% between 2022 and 2031.

Expansion of the construction industry and progress in rehabilitation projects are propelling the global flooring market. As buildings get older, they need restoration, maintenance, repair, and redesign. This is anticipated to augment the global renovation industry in the next few years.

Market demand for luxury tiles is anticipated to increase, as the urban population grows. In green buildings, eco-friendly flooring solutions are becoming more popular, whereas ceramic tiles are chosen in residential structures because of their low cost and simplicity of upkeep. Major companies in the flooring industry are using merger and acquisition strategies to grow businesses and expand presence.

Rubber, ceramic tiles, laminates, rugs, wood, carpets, and natural stone are instances of common flooring materials. Flooring comes in three different types: soft cover, non-resilient, and resilient. Wood flooring can remain fashionable for over a century or more. Floorboards can be repeatedly sandpapered as well as recoated. This enables the renovation of old flooring to restore their brand-new appearance. Hardwood flooring, linoleum flooring, laminate flooring, and vinyl flooring are some of the several types of flooring that are offered in the market

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Market Snapshot:

Report Coverage Details
Market Revenue US$ 333.6 Bn
Estimated Value US$ 614.0 Bn
Growth Rate – CAGR 6.4%  
Forecast Period 2022-2031
No. of Pages 319 Pages
Market Segmentation By Product, Material, Application
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Key Findings of Market Report

  • Based on…