The global indoor flooring market was valued at US$ 133.3 billion in 2021 and it is anticipated to grow up to US$ 226.3 billion by 2031, at a CAGR of 5.4% during the forecast period.
Flooring is the lower enclosing surface of spaces within buildings. This might be part of the floor structure, such as the upper surface of a concrete slab or floor boards, but typically it is a permanent covering laid over the floor. Further, indoor flooring is used when renovating a new building or an old structure. Indoor flooring is available in various materials, designs, and colors. Secondly, materials required to construct floors in residential and non-residential buildings are known as indoor flooring items.
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Market Drivers and Trends
The increase in urban population increases the residential and non-residential construction activities. The global urban population is rapidly increasing. For instance, according to World Bank statistics, in April 2020, about 56% of the global population (~4.4 billion inhabitants) lived in cities. This trend is expected to increase continuously. Also, by 2045, the world’s urban population will increase by 1.5 times to 6 billion. Thus, new construction projects, such as business complexes, hospitals, housing facilities, and shopping malls, are being prompted by the rise in urban population. For instance, in August 2022, Casagrand unveiled an independent residential construction venture, CASAGRAND PERCH, and announced plans to construct 500 homes over the next 3 years under the new initiative. Therefore, with the rising residential and non-residential construction projects, the demand for indoor flooring is also increasing for a better interior appearance.
Major Players in the Global Indoor Flooring Market
The key players studied in the global indoor flooring market are Armstrong Flooring, Inc. (US), Beaulieu International Group (Belgium), ECORE International (US), Forbo Flooring (The Netherlands), Interface, Inc. (US), Matter Surfaces, Inc. (US), Mohawk Industries, Inc. (US), Tarkett (France), TOLI Corporation (Japan), and Welspun Flooring (India).
COVID-19 Impact
In 2019, the growth of global indoor flooring market was rising due to the rising population in developing countries, growing disposable income has resulted in increased investments in residential buildings, and surge in product innovations.
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The COVID-19 pandemic had affected several sectors worldwide, adversely affecting the global economy in 2020. However, the construction sector witnessed steady year-on-year (Y-o-Y) growth until the emergence of COVID-19 in late 2019. The massive outburst of the coronavirus had derailed the entire construction sector heavily, with several construction projects cancelled and several projects postponed indefinitely. The COVID-19 pandemic had also disturbed indoor flooring market growth. Factory shutdowns and travel bans have adversely affected the construction industry, negatively impacting the growth of the indoor flooring market. Also, the housing material sector witnessed a huge drop in terms of trade due to lockdown restrictions in different countries, which hindered manufacturing operations during the COVID-19 pandemic. Moreover, procurement of raw materials was challenging due to the logistics disruption. Therefore, the COVID-19 pandemic had negatively affected the global indoor flooring market in 2020.
There are also positive signs for the coming quarters due to increase in residential and non-residential construction projects. However, with the surge in construction activity, combined with disruptions to supply chains and high shipping costs, prices for construction materials have soared or remain in short supply.
Global Indoor Flooring Market Segmentation
By Type
- Ceramic Tiles
- Carpet
- Vinyl, Linoleum, & Rubber
- Wood & Laminate
- Others
By End User
- Residential
- Non-Residential
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