New York, 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.
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Global Indoor Flooring Market Segmentation
By Type
- Ceramic Tiles
- Carpet
- Vinyl, Linoleum, & Rubber
- Wood & Laminate
- Others
By End User
- Residential
- Non-Residential
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).
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