Rapid urbanization and industrialization which has resulted into high and immediate requirement for resilient flooring in industrial areas, housing projects, and IT parks. A large number of home improvement and renovation activities in light of changing consumer trends and lifestyles is leading toward high demand for resilient flooring in the residential sector. Fiberglass flooring has gained immense momentum in the recent past on the back of its properties such as excellent durability and lightweight. In addition, superior insulation properties of fiberglass owing to presence of several reinforced materials has complemented its demand. Several technological advancements and product developments are being made by resilient flooring manufacturers, in order to enhance performance of their products.
In addition, environment—friendly floor covering solutions that include rubber, bamboo, cork, hardwood, glass, and linoleum have witness a significant surge in demand across residential and non-residential spaces, which in turn will influence growth of the resilient flooring market in the near future.
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Europe will prevail as Dominant Region in Global Resilient Flooring Market
In terms of value, Europe is likely to prevail as the dominant region in the global resilient flooring market. Dominance of this region can be highly attributed to rapid expansion of the residential and commercial construction sector in light of government support and high standards of living in the region. Asia-Pacific excluding Japan (APEJ) will also remain a remunerative region for the market growth, owing to robust expansion of the construction industry across emerging nations such as India, China, and Thailand, along with regulatory support for the infrastructure development at domestic level. Additionally, proliferation of commercial spaces such as corporate offices, retail stores, and hospitals will further create demand for resilient flooring in APEJ.
On the basis of material type, vinyl will remain preferred among end-users of resilient flooring across the globe. Vinyl flooring is robust, durable and facilitates maintenance. In addition, vinyl flooring is environment friendly, and comparatively more cost-effective than all other types of materials used for resilient flooring. However, revenues from rubber flooring will increase at a relatively higher CAGR through 2026.
Although non-residential end-users are set to account for a comparatively larger revenue share of the market than residential end-users, the latter are projected to exhibit a relatively faster expansion in the market through 2026. Based on construction activity, resilient flooring are likely to witness the highest demand in renovation activities globally.
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