The global Non-resilient Flooring market is forecasted to reach USD 330.47 Billion by 2027, according to a new report by Reports and Data. A non-resilient floor is durable, and non-elastic, water-resistant. Similar to durable flooring, a non-resilient floor is costly but is much cheaper and easier to maintain. There is also a range of textures, colors, and patterns that remain a widely requested market choice for residential and commercial buildings. Most facilities are using non-resilient flooring, as its efficiency, beauty, and value remain constant. Costs of raw materials have affected the industry significantly.
Owing to the various developments in digital printing technology, the constant production of creative and flexible flooring products is driving the growth of the global non-resilient flooring industry. Growth in the construction sector and growing urbanization are also some of the factors driving the growth of worldwide demand. However, fluctuations in prices of raw materials with reduced margins can increase the prices of ceramic products, and this can impede the growth of the industry.
Continuous production for the manufacture of flexible and innovative flooring products is expected to have a positive impact on the overall growth of the industry due to the developments in digital printing technologies. Variation of the product in terms of design and sizes provided by the manufacturers is expected to have a positive market effect.
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Improving nations across the globe have concentrated on growing investment in the construction industry as well as improving infrastructure, thereby increasing the potential for the flooring market. The dramatic market growth in the Asia-Pacific region is affected by rapid urbanization and industrialization.
The COVID-19 impact:
The outbreak raised concern on the value of anti-bacterial safe flooring. The market has experienced a downturn over the weeks, which may continue over the next few months. This pandemic has affected the Asia Pacific region the most, with China at the center of the outbreak. Most initiatives have come to a temporary halt in multiple countries. The production, as well as supply, has been put on hold, causing losses to the manufacturers, dealers as well as consumers. The market might be facing a downside for the period. Still, with rising urbanization and industrialization, the demand would be hitting the roof as soon as there is a development in the condition.
Key participants include Ceramic Saloni, China Ceramics, Crossville Inc., Dal Tiles, Kajaria Ceramics, Mannington Mills Inc., Mohawk Industries Inc., Shaw Industries Inc., Porcelanosa Group, and RAK Ceramic among others.
Further key findings from the report suggest
- In North America, the residential segment accounted for 56.7% of the revenue share in 2019 and is anticipated to grow from USD 29.55 billion in 2019 to USD 40.62 billion. This can be due to their growing use in the region’s residential settings.
- Developing the nation’s government has promoted and invested in infrastructural development and creative I.T construction, SEZs, parks, and more. This has culminated in the commercial flooring being upgraded to 4.3?GR and it is increasing further with an emphasis on urbanization and industrialization.
- The ceramic tiles segment due to various advantages is expected to increase in the following years. Ceramic tiles with a variety of prints and designs are available in a wide selection. Such tiles can be used as wall tiles, floor coverings, and longer life; they often need limited maintenance.
- The rising need for eco-friendly products is intended to generate new opportunities for industry growth because of increasing health and environmental issues about many flooring solutions. Technological developments such as the growing use of VR technology to create finished goods are expected to see strong growth over the projected timeframe.
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For the purpose of this report, Reports and Data have segmented into the global Non-resilient Flooring market on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Ceramic Tiles
Application Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Retailer Distribution Channel
- Wholesaler & Distributor Business Trend
The report on the Non-Resilient Flooring market provides critical insights into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market. Advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis are used in the report to offer clear understanding about competitive landscape and market growth. it also offers strategic recommendations to the new and emerging players to overcome the entry-level barriers of the market during the forecast period.
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