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North American Flooring Market revenue to reach $55 Bn by 2027
Published Date: 2021-08-05
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North American Flooring Market size is predicted to cross USD 55.04 billion by 2027, according to a latest forecast report by Graphical Research.
The market is anticipated to witness robust growth owing to the growing construction activities across the U.S. Growing trend towards new construction, repair and renovation in commercial and residential sector will positively influence product penetration. Additionally, rising trend towards environment-friendly floor will stimulate industry growth. Increasing government spending on innovative and green infrastructure will present great potential growth prospects in the upcoming years. Moreover, surging construction expenditure and rising demand for smart cities in the U.S. will propel the overall market in the upcoming years.
In 2020, resilient flooring held a considerable share of around 11.4% in the overall flooring market. Resilient flooring is further categorized into vinyl sheet, LVT, fiberglass, VCT, linoleum, and others. It comprises a mixture of fillers, binders, and colors. It is durable, cost-effective, and waterproof flooring system, and it requires low maintenance. The vinyl sheet subsegment held over 10.5% demand share in 2020, it is one of the most preferred resilient flooring. Furthermore, technological developments along with ongoing product development to improve the performance of resilient flooring will drive market growth. Moreover, increasing consumption of environment-friendly floor covering solutions including hardwood, glass, linoleum, cork, rubber and bamboo will support product penetration in the flooring industry.
Browse detailed statistical insights from the report, “North America Flooring Market Forecast 2027 By Application (Residential, Commercial, Industrial), By Product (Soft Coverings, Resilient Flooring [LVT, VCT, Vinyl Sheet, Fiberglass, Linoleum], Non-Resilient Flooring [Ceramic, Stone], Seamless Flooring), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The residential segment is expected to grow at a CAGR of 5.4% during the forecast period. Flooring systems are designed for residential, commercial, and industrial sectors. With the expanding population in the U.S., the demand for new homes will increase in large cities and towns. Moreover, the rising renovation projects will support product penetration in the regional residential construction sector. Furthermore, commercial segment will grow significantly owing to the rapid commercialization and the subsequent expansion of workspaces in the U.S. Several major commercial flooring manufacturers including Nora, Gerflor, Shaw, Shaw and Armstrong will emphasis on product differentiation and innovation in a bid to maintain their market foothold.
North America will witness substantial demand owing to the requirement for development & maintenance of the massive road network, the majority of which lies in the U.S. Additionally, aging infrastructure and the process of restructuring & maintaining this aged infrastructure is unable to match the pace of deterioration. This has increased the demand for soft coverings that are used for dust-binding & noise-reducing effects and as insulators providing comfort, warmth, and pleasing aesthetics. Furthermore, several government programs, such as Made in Canada and Affordable Housing Initiative (AHI), New Building Canada Plan (NBCP), will support the industry’s growth.
The North American flooring market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in billion sq. ft. and revenue in USD million from 2017 to 2027 for the following segments:
North America Market, By Product
- Soft Coverings
- Resilient Flooring
- Vinyl sheet
- Non-Resilient Flooring
- Wood & laminate
- Seamless Flooring
North America Market, By Application
The above information has been provided for the following countries:
- North America