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Hard Surface Flooring Market Key Dynamics, Trends, Regional Analysis And Forecast 2024-2033

04-24-2024 08:38 AM CET | Industry, Real Estate & Construction

Press release from: The Business research company

Hard Surface Flooring Market

Hard Surface Flooring Market

The hard surface flooring market size has grown strongly in recent years. It will grow from $38.24 billion in 2023 to $40.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to urbanization, population growth, housing market expansion, economic development, lifestyle changes.

The hard surface flooring market size is expected to see strong growth in the next few years. It will grow to $49.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to sustainable building practices, demand for luxury and customized flooring, increased residential and commercial construction, growth in the real estate market, renovation and remodeling activities. Major trends in the forecast period include rising popularity of luxury vinyl tiles, increased focus on sustainable and eco-friendly flooring options, integration of digital printing technology, demand for seamless and low-maintenance flooring solutions, growing interest in modular and customizable flooring designs.

Market Overview -
Hard surface flooring is flooring that is long-lasting, non-porous, and wear-resistant and comprises materials like hardwood, laminate, tile, vinyl, and concrete to provide a solid and durable surface for residential and commercial areas. It offers a stable and easy-to-clean choice for a range of indoor locations.

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Construction Surge Propels Growth In The Hard Surface Flooring Market
The increasing construction activities are expected to propel the growth of the hard surface flooring market going forward. Construction activities refer to a process concerned with the act or process of building, how something is built, and the finished construction or installation. Hard-surface flooring is a long-lasting, dependable, and simple-to-maintain building material. Hard-surface flooring serves practical and decorative purposes in buildings, making it a popular option for commercial and residential areas. These benefits include ease of maintenance, functionality, customization, and long-lastingness. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, increasing construction activities are driving the growth of the hard surface flooring market.

Competitive Landscape -
Major companies operating in the hard surface flooring market report are Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett S.A., Beaulieu International Group, Dal-Tile International Inc., Forbo Holding AG, Interface Inc., LL Flooring Holdings Inc., Gerflor Group, Mannington Mills Inc., Armstrong Flooring Inc., Polyflor Ltd., Congoleum Corporation, Emser Tile LLC., Crossville Inc., Somerset Hardwood Flooring Inc., Boa-Franc Inc., Roppe Corporation, Karndean International Limited, Quickstep, Marazzi Group S.R.L., Faus Group Inc., NOX Corporation, Mullican Flooring L.P., Provenza Floors Inc., Urban Global LLC., Novabell S.P.A., Kentwood Floors Inc., Us Floors Inc., Johnsons Premium Hardwood Flooring Inc.

Bjelin Sweden Unveils Technologically Advanced 3.0 Hardwood Flooring Range
Technological advancements are a key trend gaining popularity in the hard-surface flooring market. Major companies operating in the hard surface flooring market are focused on adopting new technologies and solutions to sustain their position in the market. For instance, in April 2023, Bjelin Sweden AB, a Sweden-based hardwood flooring manufacturer, launched a new hardened wood 3.0-floor range, a new range of hardened wood floors with updated and improved colors, formats, and technologies. This water-resistant floor-locking system allows quick, simple, and long-lasting installation with a watertight joint. These hardened wood floors also have the proprietary Woodura technology, a top-notch method of creating authentic wood floors that are more environmentally friendly. Using this method, ten times as much product as the same quantity of wood can be produced, and the flooring can be up to three times as sturdy as traditional wood.

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Key Segments -
The hard surface flooring market covered in this report is segmented -
1) By Material Type: Vinyl Flooring, Vinyl Sheet, Vinyl Composition Tile, Rubber Flooring, Cork Flooring, Asphalt Flooring, Linoleum Flooring, Other Materials
2) By Surface Type: Seamless Flooring, Wood Flooring, Laminate Flooring
3) By Installation Type: Glue-Down, Floating, Nail Or Staple, Click-Lock
4) By Distribution Channel: Online Retail, Offline Retail, Other Distribution Channels
5) By Application: Residential Buildings, Nonresidential Buildings, Transportation

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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