Increasing residential applications in emerging markets are also expected to drive the growth of the flooring market.
Dallas, TX -- (SBWIRE) -- 07/21/2015 -- The report Flooring Market - Trends & Forecasts to 2020, defines and segments the global flooring market with analysis and forecasting of the global volumes and revenues for the flooring market. It also identifies the driving and restraining factors of the market with an analysis of trends, opportunities, burning issues, winning imperatives, and challenges.
Browse 177 market data tables and 63 figures spread through 222 pages and in-depth TOC on Flooring Market - Trends & Forecasts to 2020.
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The market is segmented, on the basis of volumes and values, into major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented in terms of volumes and values, on the basis of type, raw material, and application.
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The flooring market is buyer-oriented. It has shown substantial growth due to the rising urbanized population and resurgence of the construction industry in developing economies. Infrastructure spending is a key driver of regional economies. As a result, it is expected that spending on capital projects and infrastructure will grow significantly in the next decade.
The U.S., China, Japan, Germany, Australia, U.K., Canada, India, Indonesia, Brazil, Spain, and Italy are investing large amounts in the construction industry; hence, it is important to achieve rapid and sustained economic growth. A sufficient infrastructure investment is required for modernization and commercialization. Major players in the market are developing new techniques to achieve sustainability.
The global flooring market is projected to reach $331.78 Billion by 2020, at a CAGR of 4.8% from 2015 to 2020 due to the large number of upcoming construction projects in emerging economies. The Asia-Pacific region accounted for around 40% of the total market share in terms of value, followed by Europe and North America in 2015. However, as industrialization is rising, developing countries such as China and India are estimated to grow at a higher rate from 2015 to 2020. China is estimated to grow faster than any other country due to its high population along with new construction projects coming up in the next five years.
The most severe challenge that the flooring market faces is disposal of waste. The flooring market is growing at a rapid pace; however, it is also creating extensive waste. The issue becomes more critical as there is no proper management to deal with the same.
The global flooring market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches and innovations are the key strategies adopted by market players to ensure their growth in the market. The key players include Alcoa Incorporated (U.S.), Amcor Limited (Australia), Ardagh Group (Europe), Ball Corporation (U.S.), CPMC (China), Crown Holdings (Europe), Greif Incorporated (U.S.), Silgan Holdings (Connecticut, U.S.), Rexam Plc (U.K.), and Ton Yi Industrial (China).
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