Resilient flooring is a loose floor covering that resides in the middle ground between hard floors and soft floors. These flooring offer a range of advantages such as high durability, flexibility along with being inexpensive in nature. The global market is expected to witness a significant growth during the study period on account of growing construction industries in the emerging economies along with the rising awareness regarding the need of insulation in the development of any infrastructure. In addition, expansion of construction industry in the
North American region will further aid in the growth of this market. Rapid urbanization and need of infrastructure for the burgeoning population will fuel market demand over the coming years. Increasing infrastructure spending for commercialization and modernization is anticipated to boost the growth of the market during the forecast period. However, rising environmental concerns regarding extensive disposal of waste materials is a major challenge, which can negatively impact the market growth in the forthcoming years.
The global resilient flooring market has been segmented based on product into luxury vinyl tiles (LVT), vinyl composite tiles (VCT), vinyl sheets, fiberglass, linoleum and others. The vinyl composite tile is a major segment and is projected to witness a double-digit growth over the forecast period owing to the growing due to its high durability, excellent abrasion resistance, and low price. The global market has been further segmented into residential, commercial and industrial. The residential segment has accounted for major share and is estimated to grow at a substantial rate during the forecast period on account of emerging housing sector along with favorable home loan facility and growing residential projects across the globe.
Asia Pacific is a major market and is expected to grow at the highest CAGR during the study period due to the growing construction industry, rising infrastructure spending, and favorable regulatory support to improve infrastructure at the regional level. Furthermore, rapid industrialization in the emerging economies, particularly in China and India, are estimated to positively impact the market growth due to its rising population coupled with increasing construction projects over the coming years.
The global market is highly competitive in nature due to the presence of a huge number of unorganized players. Major players are focusing on the extension of their product portfolio and applying innovative approaches to achieve sustainability & high market penetration.The key industry players include IVC Group, Mannington Mills, Inc., Mohawk Industries, Pergo, Polyflor, Shaw Floors, Nora Systems Inc, Novalis International Ltd., NOX Corporation, Milliken & Company, Unilin, Q.E.P. Co., Amtico International Limited, Armstrong World Industries, Congoleum Corporation, Forbo Holding AG, Gerflor, Interface, Inc., Hanwha, James Halstead Group Plc, LG Hausys, Tarkett, and American Biltrite Ltd. The global market is highly competitive in nature due to the presence of a huge number of unorganized players. Major players are focusing on the extension of their product portfolio and applying innovative approaches to achieve sustainability & high market penetration.
In April 2012, Tandus has launched a two campaign highlighting its hybrid resilient flooring to display the product’s unique attributes.
In Feb 2016, Armstrong has introduced two advance resilient collections with the emphasis on current patterns.
In Jan 2016, Tajima Flooring USA has offered a high-end vinyl floor with style and performance to the American market for a wide range of commercial spaces.
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