What is the Historic and Current Scenario of the Hard Surface Flooring Market?
The hard surface flooring market has seen considerable growth due to a variety of factors.
•Recent years have seen a vigorous expansion in the size of the hard surface flooring market. The growth is anticipated to continue, increasing from $40.2 billion in 2024 to $42.35 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%.
The historical period's rise can be traced back to factors such as urbanization, a growing population, the evolving housing market, economic progress, and lifestyle modifications.
What are the Forecasted Growth and Key Factors of the Hard Surface Flooring Market?
The hard surface flooring market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the hard surface flooring market is projected to experience robust growth, with its value expected to reach $53.03 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.8%.
This anticipated growth during the forecast period is linked to factors like sustainable building methods, an increased demand for luxurious and personalized floor designs, a surge in residential and commercial construction projects, an expansion in the real estate market, and an increase in renovation and remodeling undertakings. The forecast period will also see several trends emerging, such as a growing fondness for luxury vinyl tiles, an escalated emphasis on sustainable and environmentally friendly flooring solutions, the adoption of digital printing technology, an inclination towards seamless and easy-care flooring solutions, and a rising interest in modular and customizable floor designs.
What Main Forces Are Fueling Expansion In The Hard Surface Flooring Market?
The growth of the hard surface flooring market is expected to be boosted by the rise in construction activities. These activities encompass the process of constructing or installing a structure, and the resulting completion. Hard surface flooring is an extremely durable, reliable, and low-maintenance construction material. With both functional and aesthetic appeal, hard surface flooring is a sought-after choice in both the commercial and residential sectors due to its easy maintenance, versatility, customization options, and longevity. To cite an example, the Australian Bureau of Statistics, a governmental organization in Australia, stated that in the March 2023 quarter, there was a 1.3% increase in the number of dwellings under construction, amounting to 240,813 units. This beat the prior record of 240,065 units set in the March 2022 quarter. Consequently, the surge in construction activities is catalyzing the expansion of the hard surface flooring market.
What Are The Primary Segments In The Global Hard Surface Flooring Market?
The hard surface flooring market covered in this report is segmented –
1) By Material Type: Vinyl Flooring, Vinyl Sheet, Vinyl Composition Tile, Rubber Flooring, Cork Flooring, Asphalt Flooring, Linoleum Flooring, Other Materials
2) By Surface Type: Seamless Flooring, Wood Flooring, Laminate Flooring
3) By Installation Type: Glue-Down, Floating, Nail Or Staple, Click-Lock
4) By Distribution Channel: Online Retail, Offline Retail, Other Distribution Channels
5) By Application: Residential Buildings, Nonresidential Buildings, Transportation
Subsegments:
1) By Vinyl Flooring: Luxury Vinyl Tile (LVT), Luxury Vinyl Plank (LVP), Vinyl Sheet
2) By Vinyl Sheet: Homogeneous Vinyl Sheet, Heterogeneous Vinyl Sheet
3) By Vinyl Composition Tile (VCT): Standard VCT, High-Performance VCT
4) By Rubber Flooring: Rolled Rubber Flooring, Rubber Tiles
5) By Cork Flooring: Unfinished Cork Flooring, Finished Cork Flooring
6) By Asphalt Flooring: Asphalt Tiles, Asphalt Sheet Flooring
7) By Linoleum Flooring: Linoleum Tiles, Linoleum Sheets
8) By Other Materials: Concrete Flooring, Ceramic Tile, Stone Flooring
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Which Key Trends Are Driving Changes In The Hard Surface Flooring Market?
A significant trend rising to prominence in the hard-surface flooring market is the progress in technology. Major firms in this sector are concentrating on integrating novel technologies and solutions to maintain their market standing. For instance, Bjelin Sweden AB, a renowned hardwood flooring manufacturer based in Sweden, introduced an enhanced 3.0-floor range of hardened wood in April 2023. This series features advanced colors, formats, and technologies. The water-resistant floor-locking scheme enables an easy, swift, and durable fitting with a watertight seal. Moreover, these hardened wood floors are equipped with the exclusive Woodura technology, a premier approach for manufacturing authentic and eco-friendly wood floors. This process allows the production of product ten times its quantity from the same amount of wood, and the resultant flooring turns out to be up to three times as strong as conventional wood.
Who Are the Key Players in the Hard Surface Flooring Market?
Major companies operating in the hard surface flooring market include:
• Mohawk Industries Inc.
• Shaw Industries Group Inc.
• Tarkett S.A.
• Beaulieu International Group
• Dal-Tile International Inc.
• Forbo Holding AG
• Interface Inc.
• LL Flooring Holdings Inc.
• Gerflor Group
• Mannington Mills Inc.
• Armstrong Flooring Inc.
• Polyflor Ltd.
• Congoleum Corporation
• Emser Tile LLC.
• Crossville Inc.
• Somerset Hardwood Flooring Inc.
• Boa-Franc Inc.
• Roppe Corporation
• Karndean International Limited
• Quickstep
• Marazzi Group S.R.L.
• Faus Group Inc.
• NOX Corporation
• Mullican Flooring L.P.
• Provenza Floors Inc.
• Urban Global LLC.
• Novabell S.P.A.
• Kentwood Floors Inc.
• Us Floors Inc.
• Johnsons Premium Hardwood Flooring Inc.
What Is The Most Dominant Region In The Hard Surface Flooring Market?
North America was the largest region in the hard surface flooring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hard surface flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
