Global Textile Flooring Market is estimated to be valued at US$ 184.29 Billion in 2021, according to the Global Textile Flooring Market Report, by Material Type (Synthetic Textiles (Polypropylene, PET, Acrylic, Nylon), Animal Textiles(Wool, Fur), Plant Textiles (Grass, Sisal)), by Technology (Tufting, Woven, Needlefelt), by Product Type (Rugs, Carpets), by Application (Residential, Commercial, Others (Industrial, etc.)) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
Global textile flooring market was valued at US$ 184.29 Billion in 2021. Textile flooring market is expected to register a CAGR of 6.1% over the forecast period (2022–2030). Textile flooring is a type of flooring system that looks like rugs and carpets and are basically define as broadloom and modular types. Textile flooring is available in the two forms i.e. natural fibers and manmade fibers. Nylon6, Nylon66, terephthalate (Polyester), polyethylene and acrylic belong to the manmade/synthetic fibers category whereas natural fibers are based on animal-based fibers, i.e. fur, wool, and plant-based fibers i.e. Seagrass and Sisal.
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Browse 50 market data tables* and 40 figures* on "Global Textile Flooring Market” - Forecast to 2030.
Key Trends and Analysis of the Global Textile Flooring Market:
- On the basis of product type, in 2021, carpet segment is expected to dominate the global textile flooring market owing to the rising demand of carpets in commercial and residential spaces.
Key Takeaways of the Global Textile Flooring Market:
- Asia Pacific is expected to witness significant market share during the forecast period in the global textile flooring market, owing to growth of the real estate sector, increasing investment in affordable housing, expanding population, rising disposable income, investment in the tourism sector and others. According to the India Brand Equity Foundation, real estate market is expected to grow US$ 9.30 billion by 2040 from US$ 1.72 billion in 2019.
- New product launches, merger & acquisitions and strategic partnership expansion are key strategies adopted by players in the global textile flooring market. For instance, in February 2022, Vandewiele nv & Savio India merged together to operate under the name of Vandewiele-Savio India Private Limited. This will benefits Indian textile industry, by offering complete textile flooring solutions and give these a sustainable competitive advantage.
