Flooring market to reach $47.69bn by 2025

The global commercial flooring market is expected to reach approximately USD 47.69 billion by 2025. Flooring is
one of the areas in the construction Flooring market to reach $47.69bn by 2025 industry that has been witnessing rapid changes over the past two decades. The adventof several new technologies and the increasing use of specialised machinery have meant that the field has changed beyond recognition, especially with reference to the industrial and commercial flooring sector.

The industrial and commercial flooring sector have maintained a healthy pace of The industrial and commercial flooringsector have maintained a healthy pace of August 2017 26 communique The industrial and commercial flooring
sector have maintained a healthy pace of growth in the recent few years , with India emerging as a key market for newer technologies. The thrust being provided to the manufacturing sector is one of the major reasons for the growth rate of the industrial and commercial flooring segments. The two segments have been growing at a rate
of 15%-20% in recent times. The thrust towards manufacturing is aimed at increas-ing the contribution of the sector from the present 16% to about 25% by 2025. The size of the industrial and commercial flooring segments in the country is estimated to be around Rs 4000 crore and growing. Industrial experts are of the opinion that if the
economy turns around, then the sector could be in for a period of rapid growth ultimately leading to even doubling of the growth rate by the end of the 12th Five Year Plan Period (2012-2017).

Geographically, the Global Commercial Flooring industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. North America contributed the highest share in the global commercial flooring market in 2015 due to recovery of construction industry in the region. Rising infrastructural developments and urbanization in countries such as India, China and Japan is expected to expand the commercial flooring market in Asia. Asian region is anticipated to observe robust demand for non-residential and residential spaces which will intensify the market of commercial flooring in future.

Some of the key vendors identified across the value chain of the global Commercial looring market include James Halstead, Flowcrete, Novalis, NOX Corporation, Toli flooring, China national building material co. ltd., and others. The manufacturers are focusing on development of new and innovative products and displaying of
products through online catalogues. Thus, regular supply of raw materials utilized for manufacturing process is necessary for market players for overall development. Variousnew players are anticipated to enter into the
market and to capture the share in global commercial flooring market.

Increasing number of corporate offices in emerging economies including China, India, and Mexico on account of regulatory inclination to promote the manufacturing output on a domestic level is expected to remain a key driving factor over the next eight years.

Furthermore, rising government spending towards improving education infrastructure through implementation of new schemes including Padhe Bharat Badhe Bharat and Utkarsh Bangla Scheme is expected to have a strong impact. These factors, it is believed, will highly influence the consumption of construction materials including floor coverings in education sector and hence boost their market growth.

Education segment is expected to foresee volume growth at a CAGR of 5.9% from 2017 to 2025. Growing importance of modular tiles in education spaces for providing moisture resistance and excellent dust control characteristics is projected to have a positive impact on industry. In addition, high market visibility of carpets in developing
countries including China and India on account of the presence of large number soft covering manufacturers on a domestic level is projected to have a positive impact.

Key findings from the report suggest:
The global commercial flooring market was 4,680.0 million square meters in 2016 and is expected to reach 7,903.4
million square meters by the end of 2025, expanding at a CAGR of 6.0% from 2017 to 2025.Wood & laminates are expected to foresee revenue growth at a CAGR of 7.0% from 2017 to 2025. Engineered wood,alternately called as composite wood consist of a number of wood products manufactured by binding particles, fibers,
veneers, and strands of wood, which are joined with adhesives to form composite materials. These products
are modeled to supreme design requirements as per the specifications of end user or client and are tested to meet international and national standards.

Asia Pacific is projected to foresee volume growth at a CAGR of 6.9% from 2017 to 2025. Regulatory support aimed at promoting investments in manufacturing sectors of China and India is expected to increase the number of commercial spaces and thus likely to fuel the demand for floor covering in the near future.

Key commercial flooring manufacturers include Mannington Mills, Tarkett, Flowcrete, James Halstead, Nora, Milliken
Floor Covering, Novalis, Tajima, Tkflor, NOX Corporation, and Toli flooring. Product innovation through introduction of new designs is expected to remain a key critical success factors for floor covering vendors.

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