Resilient Flooring Market Revenue, Vendor Landscape and Strategic Framework, 2024

Felton, Calif., USA, Nov 23, 2021 — /EPR Network/ —

Global Resilient Flooring Market size is anticipated to reach USD 9.96 billion by 2024. Resilient flooring is a mixture of natural and synthetic materials that is employed in the replacement for traditional hardwood flooring.

Top Companies:

Some of the key players that fuel the growth of the resilient flooring industry comprise Shaw Industries Group, Inc, Mohawk Industries, Inc, Tarkett Group, Boral Limited, Toil Corporation, The Dixie Group, FORBO, Cong oleum Corporation, and Interface, Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Growth Drivers:

The factors that propel the growth of the resilient flooring market include rapid industrialization and urbanization, high demand for resilient flooring in the residential segment, changing consumer lifestyles and trends, and huge number of home improvement and renovation activities. On the other hand, there are factors that may hamper the growth of the market including high cost of raw material. Resilient flooring industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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Product Outlook:

Resilient flooring market could be explored by product type, material, application, and geography. The market could be explored by product type as Vinyl Composite Tiles, Luxury Vinyl Tiles, Vinyl Sheets, Linoleum, and Fiberglass Sheets. The “Vinyl composite tiles (VCT)” segment led the resilient flooring industry in 2016 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market includes good durability, low price, and excellent resilience to abrasion and high impact resistance.

Material Outlook:

Based on material, the resilient flooring market could span Wood (Engineered Wood, Soft Wood and), Laminate, Carpets and Rugs, Vinyl Sheet and Tile (Heterogeneous, Homogeneous, Luxury Vinyl Tile), Stone, and Ceramic Tile. The “Vinyl Sheet and Tile” segment led the market of resilient flooring in 2016 and is anticipated to maintain its dominance by 2024. The key factors that may be attributed to the growth of market includes durable, robust, and facilitates maintenance. Furthermore, vinyl flooring is comparatively more cost-effective than all other types of materials used for resilient flooring and environment friendly.

Application Outlook:

The key applications that could be explored in the resilient flooring industry include Non-residential and Residential. The “Resilient Flooring” segment led the market of resilient flooring in 2016 and is anticipated to maintain its dominance by 2024. The key factors that could be attributed to the growth of market includes growing spending capacity of consumers and rising demand for single family housing projects.

Regional Outlook:

North America accounted for the major market share of resilient flooring in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing demand from healthcare and retail segments and increased stress on eco-friendly flooring products. North America is followed by Europe and Asia-Pacific owing to increasing number of construction activities in Malaysia, Brazil, India and Thailand and increasing application scope in food & beverage and automotive segments.

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