Global Soft Covering Flooring Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
Global Soft Covering Flooring Market: Overview
“The global Soft Covering Flooring Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Soft covering flooring include area rugs, carpet tiles, and broadloom carpet that provides various characteristics such as dust-binding, noise reduction, and heat insulation. These floor covering are comfortable in nature and easy to install. In addition, they are mainly used to décor office and home and are also used in many places such as hospitality spaces, airports, and educational institutions across the globe.
Global Soft Covering Flooring Market: Dynamics
Increasing investments in residential and commercial sectors and rising per capita income of individuals across the globe are major factors expected to drive growth of the global market over the forecast period. In addition, increasing demand for various premium rugs and carpets to improve overall look of office and home spaces is another factor expected to fuel growth of the target market during the forecast period. Also, availability of wide range of designs, textures, patterns, and colors in soft covering flooring products is key factor fueling growth of the target market.
Growing rising commercial and residential construction activities across the globe resulting in high demand for various soft covering flooring. In addition, increasing production of various variety of products such as bath mates, broadlooms, and others by manufacturers is expected to propel growth of the global soft covering flooring market over the forecast period.
Furthermore, rising investment in R&D activities by major manufacturers to develop eco-friendly product designs and for technological innovations are other factors expected to proliferate growth of the global market in the next 10 years.
However, changing raw material prices and availability of flooring alternatives in the market are key factors expected to hamper growth of the global market to a certain extent.
Global Soft Covering Flooring Market: Segment Analysis
Increasing popularity of carpet tiles and rapid adoption of carpet tiles in residential and commercial sectors due to its beneficial properties such as high shock absorption and easy installation are primary factors driving revenue growth of the carpet tiles segment among product type segment.
Among the application segment, the residential segment is expected to witness significant growth in the global soft covering flooring market, owing to increasing preference for various soft covering products among residential users to improve the overall look and appearance of their home across the globe.
Global Soft Covering Flooring Market: Region Analysis
The market in North America holds major revenue share in the global market, owing to high adoption of rugs and carpets in the countries in Canada and US in this region. In addition, increasing expenditure on home interior in countries in the region is expected to support growth of the target market in the North America region. Market in Asia Pacific expected to witness faster growth in terms of revenue followed by market in Europe, owing to rapid urbanization, rising popularity of stylish flooring among individuals, and increasing home renovations, enhancement, and interior installations in countries such as China, India, France, and Germany in these regions. Markets in Latin America, and Middle East & Africa are expected to register average growth in terms of revenue, owing to increasing penetration of carpet tiles and rugs among individuals in these regions.
Global Soft Covering Flooring Market Segmentation:
Segmentation by product type:
- Broadloom Carpet
- Area Rugs
- Carpet Tiles
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Bentley Mills, Inc.
- Mohawk Industries, Inc.
- Beaulieu Group LLC
- Royalty Carpet Mills, Inc.
- Mannington Mills, Inc.
- Shaw Industries Group, Inc.
- Tuftex Carpets Pty. Ltd.
- Engineered Floors LLC
- The Dixie Group, Inc.
- AstroTurf, LLC
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