Indoor Flooring Market Expected to Reach $226.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Indoor Flooring Market," The indoor flooring market size was valued at $133.3 billion in 2021, and is estimated to reach $226.3 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

Any layer of finish material laid over a floor structure to give permanent covering is referred to as floor covering. Vinyl sheet and tiles, carpets and rugs, laminates, natural stone, wood, ceramic tiles, and rubber are all common flooring materials. The market is expected to develop due to rise in demand for flooring materials in the growing residential sector. Furthermore, the flooring business is predicted to benefit from the rise in demand for hard flooring, which has appealing qualities such as being more usable, easier to use, and are installed in remodeling and restoration of residential and commercial projects. In addition, the rise in government investments in the approaching construction sector expansion is expected to boost the indoor flooring market forecast period.

Various governments are taking initiatives to enhance the living standard of citizen. For instance, the Government of Canada launched a $30 million rebate scheme in June 2020, which is expected to assist to save a considerable amount of money on building and remodeling projects. Hence, this investment is expected to provide lucrative growth in the indoor flooring market. Hence, these investments are expected to drive the indoor flooring market growth.

Asia-Pacific accounted for around 47.1% of global market share and dominated the global market in terms of revenue in 2021, owing to expansion of residential and commercial sectors and it is expected to register highest CAGR during the forecast period. This is due to increase in R&D investments in developing countries and rise in government investments day-by-day in new construction and renovation programs.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging global indoor flooring market trends and dynamics. 
• Depending on material type, the ceramic tiles has dominated the global market, in terms of revenue in 2021 and the segment is projected to grow at a significant CAGR during the indoor flooring market forecast period.
• By construction type, the new construction segment has registered highest revenue in 2021.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the global indoor flooring market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the indoor flooring industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth global indoor flooring market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.