The new report by Expert Market Research titled, ‘The United States Flooring Market Report and Forecast 2022-2027’, gives an in-depth analysis of the United States flooring market, assessing the market based on its segments like type, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
Forecast CAGR (2022-2027): 6.50%
Increased government investment in infrastructure construction is likely to boost demand for flooring. Because of the increased need for comfort and privacy as a result of louder surroundings, the flooring industry has seen an increase in demand for insulation, since a well-insulated floor represents a vastly improved ambience. Consequently, there is an increasing need for insulation, which is driving the market’s growth. Due to rising consumer confidence and greater growth in single-family house development, floor covering sales in the United States increased. The development of the flooring industry is being fueled by the proliferation of residential and commercial building activities in the country, as well as expanding urbanisation and industrialisation. The country is also seeing an increase in internet buying, which will also boost the floor coverings industry. In addition, expanding renovation activities, particularly in developed areas, are driving up demand for floor construction materials, bolstering the market’s growth. These factors are expected to drive the market for the United States flooring market during the forecast period.
Industry Definition and Major Segments
The process of providing a clean, smooth, and level surface to building inhabitants is referred to as flooring. The floor ought to be tough and robust enough to handle the load above it while also adding to the interior design’s visual appeal. A beautiful floor may increase the rental value and sale price of homes and offices.
By product type, the market is divided into:
• Resilient Flooring
• Non-Resilient Flooring
• Ceramic Tiles
• Wood and Laminate
• Carpet and Rugs
By end-use, the market is divided into:
By region, the industry is categorized into:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
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The burgeoning requirement for adaptable and non-resilient flooring solutions for usage in the residential, commercial, and industrial sectors is being driven by increased infrastructure activity. The growing population and changing lifestyles are prompting individuals to engage in infrastructure restorations and refurbishment. Furthermore, flooring adds monetary value to the structure. These factors have aided the growth of the flooring market in the United States. Rising R&D investments by leading market players to develop and personalise flooring products, as well as render them more cost-effective and dependable, are likely to favour industry growth throughout the forecast period. The development of the e-commerce industry is anticipated to increase demand for flooring materials delivered directly to the application site.
Flooring sales in the United States increased as a result of consumer sentiment and transformative changes in residential house development. The biggest difficulty for the sector is the fluctuation of raw material costs. As millennials begin to buy houses, developer acquisition opportunities have continued to flourish. Investment in home floorings increased by a double-digit percentage due to an increase in household renovation project spending. The sector is further propelled by the benefits that vinyl flooring provides, such as cost-effectiveness, ease of installation and maintenance, and resistance to moisture. The presence of a tight regulatory framework on manufacture, consumption, implementation, and recycling is also expected to boost the market growth. These are some of the major drivers that are propelling the industry forward.
Key Market Players
The major players in the market are Mohawk Industries, Inc., Shaw Industries Group, Inc., Armstrong Flooring, Inc., Engineered Floor, LLC., Mannington Mills, Inc., The Dixie Group, Inc., Tarkett Group, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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