Cork Flooring Market Research, 2031
The global cork flooring market size was valued at $60.6 million in 2021, and is projected to reach $110.8 million by 2031, growing at a CAGR of 6% from 2022 to 2031.
Cork flooring is a product made from the bark of the cork oak tree that is ground, sheeted, and fired in a kiln to produce sheet and tiles that are used as office, light commercial, and residential flooring.
Cork is popular as a flooring material due to its durability, aesthetics, "green" properties and other unique properties. A benefit associated with cork flooring such as heat insulation, insulation and flame retardant, moisture proof, sound insulation, noise reduction, and wear resistance. Rise in construction activities across various regions such as Europe & Asia-Pacific and increase in demand for high appealing flooring solutions for buildings are expected to fuel the global cork flooring market growth. cork flooring products are presently being used in the residential and commercial projects. Increase in urbanization and rise in industrialization result in rapid development of the economies, which is expected to boost the cork flooring market overview and opportunity during the forecast period. In addition, rise in construction of commercial buildings & residential buildings is expected to boost the growth of the market. Moreover, rise in renovation and remodeling of old structures in developed countries is expected to boost the cork flooring market opportunity. In addition, according to a Harvard Joint Centre for housing studies article published in January 2021, the growth of house remodeling and repair expenditures has increased from 3.5% in 2020 to 3.8% in 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA).
Major players have adopted various strategies such as product launch and acquisition to sustain the competition and improve the product portfolio. For instance, in June 2022, Expanko Resilient Flooring launched the next generation in rubber flooring: styrene emissions free and superior colorfastness. XCR5 color ‘Coconut’, which is a creamy white rubber with natural cork granules. XCR5 is 10 percent pre-consumer recycled rubber and 10 percent pre-consumer recycled cork. This launch is expected to fuel company’s goal of sustainability.
The cork flooring market is segmented into Type, Installation method, Construction type and End-user industry and region.On the basis of type, the market is bifurcated into flail sheet form and tile form. On the basis of installation method, the market is divided into floating and glue-down. On the basis of construction type, the market is categorized into new construction and replacement. On the basis of end-user industry, the market is classified into residential and commercial. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Spain, Portugal and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By Type
The Sheet form segment generated the highest revenue in 2021.
On the basis of type, the sheet form segment generated the highest revenue in 2021, due to it is lightweight, sustainable floors that are easy to maintain and last as long as other types of wood floors.
By Region
Europe registered largest share in the global cork flooring market share in 2021
On the basis of region, Europe registered largest share in the global cork flooring market share in 2021, owing to rise in the number of residential and commercial building is anticipated to positively influence the demand for cork flooring market in Europe. Furthermore, the majority of countries in the region are spending on construction sector for the growth of their economies.
By Installation Method
The Floating segment accounted for the highest revenue in the global market in 2021.
On the basis of installation method, the floating segment accounted for the highest revenue in the global market in 2021, owing to rise in demand for eco-friendly flooring, which drives the demand of cork flooring, because it can be harvested from the same tree for 100-300 years, which impacts least on the environment.
By End-user Industry
The Residential segment accounted for the highest revenue in the global market in 2021.
On the basis of end-user industry, the residential segment accounted for the highest revenue in the global market in 2021, owing issues such as shortage of housing facilities and high costs of new construction drive the demand for renovation, which, in turn, propels the need for cork floorings, thereby augmenting the growth of the cork flooring market.
COMPETITION ANALYSIS
The key players that operate in the cork flooring market are Advance Cork International, Amorim Cork Flooring, APC Cork, Beach Bros Ltd, Capri Collections, Consolidated Carpet Industries, Coretec, Corksribas, Expanko Resilient Flooring, Global Market Partners Inc., Globus Cork, Green Buildings LLC, Jelinek Cork, The Home Depot, We Cork, Woodcrete, and Zandur.
KEY BENEFITS FOR STAKEHOLDERS
- The cork flooring market report provides an extensive analysis of the current and emerging global cork flooring market trends and dynamics.
- In-depth global cork flooring market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of cork flooring market outlook is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- Cork flooring market forecast analysis from 2022 to 2031 is included in the report.
- The key players with in cork flooring market are profiled in this report and their strategies are analysed thoroughly, which help understand the competitive outlook of cork flooring industry.
Cork Flooring Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 110.8 million |
 Growth Rate | CAGR of 6% |
 Forecast period | 2021 - 2031 |
 Report Pages | 238 |
 By Type |
|
 By Installation method |
|
 By Construction type |
|
 By End-user industry |
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 By Region |
|
 Key Market Players | Capri Collections, Globus Cork, Woodcrete, We Cork, Advance Cork International, APC Cork, The Home Depot, Zandur, Corksribas, Coretec, Jelinek Cork, Amorim Cork Flooring, Consolidated Carpet Industries, Green Buildings LLC, Beach Bros Ltd, Expanko Resilient Flooring, Global Market Partners Inc |
Analyst Review
The cork flooring market has observed huge demand in North America, Asia-Pacific, and Europe. Europe registered largest share in the global cork flooring market share in 2021, owing to rise in the number of residential and commercial building is anticipated to positively influence the demand for cork flooring market in Europe. Furthermore, the majority of countries in the region are spending on construction sector for the growth of their economies. The sheet form segment accounted for the majority of the market share in 2021, because it is lightweight, sustainable floors that are easy to maintain and last as long as other types of wood floors.
Various market players have adopted strategies, such as product launch, business expansion, acquisition, and agreement to expand their business and strengthen their market position. For instance, in January 2021, Capri launched Mediterra 2.0 glue down cork tile. As the 2.0 name implies, Mediterra 2.0 offers enhancements including an updated “Colours” palette with modern visuals, Capri’s new TLP+ proprietary finish, a larger format standard size, and more sustainability certifications. As a result, such strategic moves are expected to provide lucrative growth opportunities in the global cork flooring market.
Rise in construction of commercial buildings & residential buildings are the upcoming trends of Cork Flooring Market in the world.
Residential is the leading end-user industry of Cork Flooring Market.
Europe is the largest regional market for Cork Flooring.
The global cork flooring market size was valued at $60,570.0 thousand in 2021.
Advance Cork International, Amorim Cork Flooring, APC Cork, Beach Bros Ltd, Capri Collections, Consolidated Carpet Industries, Coretec, Corksribas, Expanko Resilient Flooring, Global Market Partners Inc., Globus Cork, Green Buildings LLC, Jelinek Cork, The Home Depot, We Cork, Woodcrete, and Zandur are the top companies to hold the market share in Cork Flooring.
The base year considered in the global cork flooring market market report is 2021.
The top 17 market players are selected based on two key attributes- competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 17 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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