World demand to rise 5% annually through 2016
Dallas, TX -- (SBWIRE) -- 02/01/2013 -- World demand for flooring and carpets is expected to increase approximately five percent annually to 18.6 billion square meters in 2016. This will be an improvement from the 2006-2011 rate, as countries rebound from the 2008 global economic crisis. In value terms, demand for floor coverings is projected to grow almost seven percent per year through 2016 to more than $250 billion. The primary driver of demand in developed areas will be rebounds in many countries’ residential construction markets (especially in the US). In developing regions, rising building construction expenditures will fortify demand, as will growing per capita incomes that allow households to afford more expensive floor coverings. Rising motor vehicle production in many areas will also boost overall demand for floor coverings.
Asia/Pacific region to see fastest gains in demand
The Asia/Pacific region is forecast to post the fastest gains in demand as the rapid industrialization of many countries in this region, as well as greater personal incomes, will drive demand. China alone is projected to account for approximately one-third of all new demand generated globally through 2016, strengthening its position as the largest flooring and carpets market in the world. North America is expected to see the second fastest gains in flooring and carpet demand through 2016, as an expected rebound in the US housing market drives growth. Solid increases in motor vehicle production in the US will also boost demand for floor coverings. The Africa/Mideast region is also expected to register strong gains, followed by Central and South America and Eastern Europe. Gains in developed areas such as Western Europe, Australia, and Japan will not be as strong as those in North America or developing regions. However, a rebound in new housing construction will boost demand in many of these countries.
Nonresilient flooring to outpace resilient types
The dominant nonresilient flooring segment (e.g., ceramic, laminate, wood), is forecast to see the strongest gains in demand through 2016. These producers will benefit from healthy gains in Asia, where these products account for the vast majority of total demand. Laminate flooring, in particular, is forecast to stimulate strong gains, in part because of its growing popularity in the US due to its durability and ease of maintenance. Global demand for resilient flooring, which is projected to post the second most rapid gains, will benefit from these products’ comparatively low cost and favorable characteristics such as comfort underfoot, noise absorption, and durability. Demand for carpets and rugs will see its fastest growth in North America due to increasing residential construction in the US, where carpet is a popular floor covering choice. A global acceleration in motor vehicle production will also boost demand for carpets and rugs.
Nonresidential construction to be fastest growing market
Through 2016, the fastest gains in floor covering demand are expected in nonresidential construction, primarily due to a rebound in nonresidential construction expenditures in countries recovering from the global financial crisis that began in 2008. Demand growth in the transportation equipment and other market will offer strong gains as well due to growing motor vehicle production, while demand in the residential building market will see similar growth due to rebounds in many countries’ housing markets.
Profiles 41 global industry players such as Armstrong World Industries, Mohawk Industries, Shaw Industries (Berkshire Hathaway), and Tarkett Flooring
This study analyzes the world market for floor coverings, only including manufactured flooring. Unimproved surfaces such as packed earth are outside the scope of the study. The two types of floor coverings examined in the study are hard surface flooring and carpets and rugs. Hard surface flooring includes nonresilient flooring (e.g., bamboo, ceramic tile, laminate, stone, wood) and resilient flooring (e.g., cork, linoleum, rubber, vinyl). Carpets and rugs are textile floor coverings that include braided, hooked, needle-punched, and woven carpets and rugs, as well as tufted products such as broadloom carpeting, scatter rugs and bath mats, vehicular carpet, and artificial grass. While in many areas of the world the terms “carpet” and “rug” are often used interchangeably, for the purposes of this study “carpet” refers to a product that covers the entire surface of the floor area and is fastened in place, while “rug” refers to a product that covers only a portion of the floor and is not held in place.
End uses for floor coverings include residential and nonresidential buildings (both new construction and improvement and repair), transportation equipment (aircraft, automobiles, buses, train passenger cars, trucks, vans), and other miscellaneous applications (industrial equipment operator compartments and power plant control rooms).
Subflooring and unfinished floor surfaces (for example, plywood and poured concrete) are excluded from the scope of this study, as is artificial grass used on outdoor athletic surfaces such as football fields. Finishes applied to floor surfaces mainly for cosmetic reasons (for instance, paint or stain) are also excluded. Because certain products (such as ceramic tile) can be used for other applications besides flooring, some published statistics on production or demand for these items had to be adjusted to eliminate nonflooring uses. The term “floor coverings” is used throughout the study to refer to both carpet and hard surface flooring products.
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