Flooring Market Overview
Product Overview and Scope of Flooring
Flooring is a lower or bottom enclosing surface of spaces within buildings. It is a leveled surface in building construction that can bear the occupants, objects, and other things. Flooring is a long-lasting covering with a finish material over the structure of the floor to deliver a walking structure. Flooring involves striking the ground and then putting a red earth layer or sand below the finished floor level. Flooring should be durable, easy to clean, must have a nice appearance, and must be heat and fire-resistant. Most widely used products include vinyl tiles, ceramic tiles, carpets, and laminates as these offer a clean, attractive, hard, and smooth surface to the floors. The components of a floor consist of a subfloor and a floor covering. A component that bears or supports the floor covering is referred to as a subfloor and a covering with finished materials over the floor base is known as floor covering. Different types of flooring consist of brick flooring, mud flooring, tiles flooring, stone flooring, mosaic flooring, cement concrete flooring, and timber flooring. Flooring products have applications in sectors including the residential commercial, and industrial sectors. Commercial building uses consist of convenience stores, offices, various retail stores, and shopping malls.
Global Flooring Market –Industry Analysis
Market Drivers
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The rapid growth of the construction industry in residential and commercial sectors is driving the growth of the global flooring market
The residential and commercial sectors are growing at a rapid pace due to the increasing population as well as aging infrastructure. Additionally, smart city projects are receiving significant funding from businesses such as Microsoft and IBM. In addition, governments across the world are supporting smart city projects and focusing on fixing deteriorating infrastructure which is expected to fuether augment the market growth.
With this increasing infrastructural development, the demand for flooring is growing. Flooring is an important part of any interior design and it serves as the foundation of the house or building’s interior. Nowadays, the demand for vinyl flooring is increasing and majorly used as a multipurpose material in tiling applications owing to its durability and cost-effectiveness. With this increasing popularity, manufacturers worldwide are developing new flooring solutions. Duchateau, a manufacturer of luxury architectural finishes, has launched a new collection of luxury vinyl tile, The Guild Kindred aims to provide millennials and first-time homeowners with high-style flooring at an affordable price. The development of new products and solutions supporting the global flooring market.
Global Flooring Revenue by Region (2018-2023)
Global Flooring Revenue and Market Share (%) by Regions (2018-2023)
Global Flooring Revenue (USD Billion) by regions (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
315.79 |
XX |
Global Flooring market was valued at USD 315.79 Billion, in 2022 and is expected to grow at a CAGR of 5.1 % over the forecast period, from 2023 to 2030.
Global Flooring Market Segmentation Analysis
Global Flooring Market By Application
In 2022, the residential segment held the largest market share in terms of revenue. This growth is attributed to the development of emerging countries such as China and India in the Asia Pacific. This residential segment includes complexes, residential buildings, and small houses. Another factor that is impelling the growth of the segment is subsidies offered by governments to the first home buyers across developed and developing countries.
|
Global Flooring Market, by Application |
|
|
|
Source: Cognitive Market Research |
On the other hand, the commercial sector is projected to witness the fastest growth over the forecast period, from 2023 to 2030. This is due to the rising number of commercial projects such as malls, drug stores, fashion stores, educational institutes, and others. The development of smart city projects and the upgradation of infrastructure are also expected to further augment the market growth during the anticipated period.
Global Flooring Market Segmentation by Product
• Ceramic Tiles
• Vitrified (Porcelain) Tiles
• Wood & Laminate
• Natural Stone
• Linoleum/Rubber
• Carpet
• Vinyl
• Luxury Vinyl Tiles (LVT)
• Others
By Application
• Residential
• Commercial
• Industrial
Global Flooring Market Players List
• Mohawk Industries, Inc.
• Tarkett, S.A.
• Firbo Flooring
• Interface, Inc
• Gerflor Ltd
• Mannington Mills, Inc.
• Polyflor Ltd
• RAK Ceramics
• Atlas Concorde S.P.A.
• PORCELANOSA Grupo A.I.E.
• Kajaria Ceramics Limited
Global Flooring Market Related Reports
• Luxury Vinyl Tile (LVT) Flooring Market
• Ceramic Tiles Market
• Global Wood Flooring Market
• Glue Laminated Timber Market
• Stone Flooring Market
• Granite Flooring Market
• Global Stone Plastic Composite Flooring Market
Global Flooring Manufacturers Profiles/Analysis
Mohawk Industries, Inc.
Mohawk Industries, Inc. Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
Mohawk Industries, Inc. |
|
2 |
Website |
www. mohawkind.com |
|
3 |
Established Date |
1988 |
|
4 |
Headquartered |
United States |
|
5 |
Market Position/ History |
The company was founded in 1988 and is headquartered in Calhoun, Georgia, United States.
|
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
North America, South America, and Europe. |
|
8 |
Ticker |
NYSE: MHK |
|
9 |
No. of Employees |
~ 40,900 |
|
10 |
Competitors |
Kingspan Group, Ethan Allen Interiors, The Home Depot, Hooker Furniture, and Kimball International. |
|
11 |
CEO |
Jeffrey Lorberbaum |
|
12 |
Ownership Type |
Public |
|
12 |
Contact Information |
160 S Industrial Blvd, Calhoun, Georgia, 30701, United States Tel: (706) 629-7721 |
Business Segment/ Overview:
Mohawk Industries, Inc is a U.S.-based company engaged in the manufacturing of flooring products with residential and commercial products. The company operates its business in three different categories including global ceramic, flooring in North America, and flooring rest of the world.
• The global ceramic segment manufactures and distributes a wide range of products including ceramic and porcelain floor, wall and exterior tile products, stone surfaces, quartz countertops, and porcelain panels in all worldwide markets. Furthermore, the global ceramic segment sells and distributes its product under the brand name American Olean, Daltile, Eliane, EmilGroup, KAI, Kerama Marazzi, Marazzi, and Ragno brand names. The global ceramic segment has manufacturing operations in North America, South America, and Europe and sells its product in approximately 160 countries.
Recent Developments
|
Year |
Latest News |
|
In June 2022 |
Mohawk Industries, Inc. acquired Vitromex ceramic tile business Mohawk Industries, Inc. acquired Vitromex ceramic tile business from Grupo Industrial Saltillo (GIS) for approximately USD 293 million. |
