HARD SURFACE FLOORING MARKET ANALYSIS

Flooring has always been an essential part of the building with availability of a wide range of trendy designs, various materials, color options, and more. Among these, hard surface flooring surface is majorly used in residential and non-residential building construction. Hard flooring has a range of options available so anyone can choose according to price, durability, etc. Hard surface flooring has increasing demand as it is more durable when compared to other materials. Hard surface flooring has a wide variety of range including vinyl flooring, vinyl composite tiles, wooden flooring, seamless flooring, and more. Changing lifestyle and increasing demand for modular kitchens and bathrooms has increased the demand for hard surface flooring.

Market Outlook

Global hard surface flooring market size is expected to expand significantly, exhibiting a CAGR of 3.25% during the forecast period (2019-2027). Increasing demand for residential remodeling from homeowners is expected to boost the demand for hard surface flooring and subsequently drive the market growth. Residential owners prefer hard surface flooring such as wooden surfaces or laminates over old, worn carpets, which is increasing the demand for hard surface flooring.  Increasing demand for homes and complexes increasing demand for hard surface flooring and subsequently driving the market growth. Furthermore, vinyl flooring has gained popularity, due to its aesthetic properties and changing customer preferences. Moreover, factors such as minimum maintenance and durability have accelerated the market growth. Furthermore, key companies are focusing on introducing new hard surface flooring to meet growing trends and demands. Growing demand for hard surface flooring in transportation sector is expected to propel the market growth during the forecast period.

Furthermore, increasing population and growing urbanization have shifted the population in urbanized areas, which poses an excellent opportunity for key players to enhance their revenue. 

Market Regional Analysis

Asia Pacific is expected to hold a significant market share in the global hard surface flooring market, during the forecast period. This is owing to increasing demand for hard surface flooring in emerging economies such as India and China. Regions such as Latin America, Africa, and Europe are showing industrial and rapid economic growth, which is expected to drive the market growth. Furthermore, European countries and the U.S. are gradually recovering from the economic crisis. This is expected to boost the demand for hard floor surface and subsequently the market growth. Moreover, major players are focusing on emerging economies to tap massive market potential.

Market Players

Major players operating the global hard surface flooring market are Tarkett SAS, Internacional de Ceramica, American Biltrite Inc., Armstrong World Industries, Inc., Biltrite Corporation, Beaulieu International Group, Florim Ceramiche, Financiera Maderera, Congoleum Corporation, E. I. du Pont de Nemours and Company, Crossville Incorporated, Mohawk Industries, Mullican Flooring, and Panariagroup Industrie Ceramiche

Key Developments

• In July 2017, Mullican Flooring, a manufacturer of hard surface flooring announced its partnership with Summit Flooring Supply, an installation and supply company. Through this partnership, Mullican Flooring increased its presence in Missouri, Oklahoma, Illinois and Nebraska.
• In January 2017, Mullican flooring, a manufacturer of hardwood floors, launched a new collection for easy installation and protected by the company’s Alpha A’Lumina Real World Finish.
• In October 2018, Q.E.P. CO., INC. a manufacturer and distributor of hardwood flooring, laminate flooring, adhesives, flooring installation tools and flooring related products, acquired hard surface and carpet distribution unit of Krauss in the U.S. and Canada.