Hard Surface Flooring Market - Size, Share, Trends, and Forecast 2019 - 2027

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

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

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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