Textile Flooring Market Size, Share, Demand, Growth & Trends by 2029
A new market research report by Future Market Insights on the textile flooring market includes global industry analysis for 2018–2021 and opportunity assessment for 2022–2029. The report inspects the textile flooring market and provides insightful information for the forecast period of 2022-2029.
As per the conclusion of the report, the global
textile flooring market is projected to experience significant growth during
the forecast period. Rising consumer confidence, increasing disposable incomes,
and intensifying demand for luxury flooring options due to booming residential and
commercial sectors are the factors expected to contribute towards the textile
flooring market growth in the upcoming years.
The global textile flooring market is estimated to be
valued at US$ 190.26 Bn in 2022, and is projected to register robust growth of
6.8% during the period 2022 – 2029. This growth is predominantly driven by
the textile industry growth.
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Over the past few years, consumption of textiles and
furnishings for homes has witnessed consistent growth, driven by factors such
as rising consumer spending on home renovation, accelerating investments in
infrastructural development, and rising demand from Asian countries such as
India, China, South Korea, and Indonesia.
The study finds that the rapid development
in the residential sector across the globe are expected to surge demand for
textile flooring for numerous applications in these sectors. Briefly, the
global textile flooring market will continue to grow at a CAGR of 6.8% during
2022-2029.
Rising Attractiveness of the Asia Pacific
Market
The textile industry in the Asia Pacific region has
registered substantial growth in the last few years, owing to rising demand
from various end-use industries. Strict quality control, advanced production
technologies, and customer & fashion-oriented marketing tactics are several
dynamic factors attributing to the current boom in the textile flooring market.
Along with this, competitive price performance ratio
compared to other materials is also boosting the market growth. Robust growth
in the healthcare sector has led to demand for flooring systems for specific
application types. Moreover, increasing popularity of ‘artificial grass’ in
outdoor lawns and sports fields is expected to further drive sales of textile
flooring in the Asia Pacific region during the forecast period.
Textile Flooring Market: Vendor Insights
The report highlights some of the key market leaders,
who are well-established market players and have proven themselves as the
prominent shareholders in the global textile flooring market.
Some examples of key players operating in the global
textile flooring market are Mohawk Industries, Inc., Interface, Inc.,
Beaulieu International Group N.V, Tarkett SA, Balts Group, Shaw Industries
Group Inc., Forbo Holding AG, Mannington Mills, Inc., J+J Flooring Group, and
Vorwerk and Co. KG, among others.
In terms of market structure and tier analysis, the
global market for textile floorings is fragmented with the top 10 players
holding a 35%-40% share in the overall market. This is mainly due to the reason
that there are a large number of Chinese and other players involved in the
manufacturing of textile floorings. Major players in the market are focusing on
expansion plans to enhance production capacities and upgrade operations.
Textile Flooring Market By Category
By Material Type :
- Synthetic
Textiles
- Polypropylene
- PET
- Acrylic
- Nylon
- Animal
Textiles
- Wool
- Fur
- Plant
Textiles
- Grass
- Sisal
By Product Type :
- Rugs
- Carpets
By Technology :
- Tufting
- Woven
- Needlefelt
By Application :
- Residential
- Commercial
- Others
(Industrial, etc.)
Synthetic Textiles to Experience High
Demand in the Market
A healthy growth trajectory is projected for the
textile flooring market. In addition, rising use of synthetic textiles in
residential sector is likely to result in increased market share over the
forecast period.
- Synthetic
textiles are widely utilized for the production of textile flooring.
Synthetic textiles are projected to register significant growth in the
global textile flooring market during the forecast period. Synthetic
textile-based flooring is one of the key components of interior
refurbishment systems used in residential and commercial spaces.
- Growth
of textile flooring based on tufting technology is mainly attributed to
the fact that it is the most commonly accepted technology by manufacturers
in terms of manufacturing cost, as well as easy installation and ease of
use by consumers.
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more: https://www.futuremarketinsights.com/reports/textile-floorings-market
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