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Asia Pacific Flooring Market Size, By Product (Soft Coverings, Resilient Flooring [LVT, VCT, Vinyl Sheet, Fiberglass, Linoleum], Non-resilient Flooring [Ceramic, Stone], Seamless Flooring), By Application (Residential, Commercial, Industrial) Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2026

Published Date: November 2020 | Publisher: Graphical Research Report ID: GR1502 | Delivery : PDF

Industry Trends

Asia Pacific Flooring Market Value was USD 144.13 billion in 2019 and will grow at a CAGR of 8.0% up to 2026.
 

Asia Pacific Flooring Market

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The Asia Pacific flooring market is expected to gain a substantial share in the global market and is set to achieve a CAGR of 8.0% by 2026. The industry will witness infrastructural advancements in China, India, and Japan, positively driving product penetration in the region. Infrastructural development in the commercial & industrial sectors of China is also expected to witness a significant growth. An increase in residential projects in emerging countries will positively contribute to growth. Rising government spending on advanced and green infrastructures will present a high potential growth opportunity in the coming years.

Untapped potential coupled with escalating foreign investments is another contributory factor that will drive construction spending in the region over the next seven years, supporting the market growth. Increasing construction spending in Indonesia, Vietnam, and the Philippines owing to the growing industrial sector is anticipated to drive market growth in the region. Cheap labor wages and attractive investment policies in these countries are expected to attract foreign investments. Increasing public construction spending owing to strong economic growth will further drive business growth over the forecast period.

The COVID-19 pandemic has drastically impacted consumer demand for new construction, slumping the Asia Pacific flooring industry at a significant level. The low demand has critically affected the region owing to changing expenditure priorities and the imposition of stringent city-wide lockdowns to control the spread of the virus. These lockdowns have resulted in temporary disruption in domestic production and international trade. However, this situation is expected to improve through continuous government measures and the industry is expected to rebound after the lifting of lockdown & transportation restrictions.

In the market size, the resilient flooring segment is expected to witness around 10% CAGR by the end of 2026. Resilient floorings are made of rubber, cork, or wood, providing an overall elasticity or bounce back effect. Products offering superior surface protection, resistance against scratches, stains, and odor are trending. Owing to their elasticity, these floorings are among the popular choices in gyms, playschools, yoga studios, and other residential & commercial applications. Pricing is dependent on the floor thickness, quality, remodeling, and innovative construction.

Based on the application, the residential segment is expected to grow at a significant pace in the APAC market. Rising urbanization and increasing per capita income have provided the residential housing market an opportunistic scenario. As housing is becoming more affordable for consumers, the demand for flooring products is expected to witness an upward trajectory. The governments’ role is also considered to be important as authorities are promoting the construction of affordable housing projects. For instance, the 2020 Announcement of USD 271 million capital infusion in incomplete affordable housing projects in India is set to dramatically support affordable housing projects in Asia. The construction of new cities to accommodate the growing migrant population with respect to rapid urbanization is also another considerable factor. As for China, the country witnessed a significant increase in urban population from a meager 18.92% in 1976 to 60.6% in 2020.

China holds a major share in both growth rate and revenue and held over 50% share on a volumetric basis. Rising demand for consumer-oriented construction will propel the market demand in the country. China is also likely to increase its investment in infrastructure by exporting its building products and construction services to major global markets. Investments from foreign players and rapid urban & rural infrastructure development have also increased flooring solution demands from the commercial and industrial sectors.

The key players in the industry include AFI Licensing LLC, Kajaria Ceramics Limited, Toli Corporation, Karndean Design Flooring, Atlas Concorde, Milliken & Company, Shaw Industries Group, Inc., RAK Ceramics, and EGGER Group. Companies are increasingly investing in R&D & design operations, establishing partnerships with other companies, and diversifying distribution & sales network to establish a firm presence in the market. Companies are also engaged in establishing long-term contracts and agreements with manufacturers for material supply.
 

Frequently Asked Question(FAQ) :

The market size of Asia Pacific Flooring surpassed USD 144.13 billion in 2019.
The COVID-19 pandemic has drastically impacted consumer demand for new construction, slumping the Asia Pacific flooring industry at a significant level. The low demand has critically affected the region owing to changing expenditure priorities and the imposition of stringent city-wide lockdowns to control the spread of the virus.
The key players in the Asia Pacific Automotive flooring industry include AFI Licensing LLC, Kajaria Ceramics Limited, Toli Corporation, Karndean Design Flooring, Atlas Concorde, Milliken & Company, Shaw Industries Group, Inc., RAK Ceramics, and EGGER Group.

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Asia Pacific Flooring Market Share, Growth & Report Analysis 2026


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