Flooring Market To Reach $398.27 Billion By 2030 | CAGR: 5.4%

Flooring Market Growth & Trends

The global flooring market size is expected to reach USD 398.27 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2024 to 2030. This growth can be attributed to rising construction activities like the construction of new hospitals, residential spaces, office spaces, malls, and hotels to cater to the demand of the growing global population.

The global flooring industry is growing owing to fast-paced economical and industrial development along with the growing population. In addition, the growing service sector and development of industrial clusters in emerging economies such as India are further expected to bolster the demand for flooring materials in commercial and industrial applications. Moreover, the robust industrialization and urbanization in the developing countries in the Asia Pacific and Africa have resulted in high pace construction activities, triggering the growth of the flooring market.

The construction industry in the Asia Pacific is forecasted to grow on account of the increasing per capita income, rapid urbanization, and expanding population. The expansion of residential, commercial, and industrial sectors on account of sustainable economic growth in the region is expected to boost construction activities, thereby, driving the flooring market over the forecast period.

The rising awareness regarding the use of eco-friendly building materials is estimated to propel the green retrofit or renovation activities of existing constructions in developed economies from North America and Europe. In addition, the increasing adoption of recyclable and reusable technologies by major players is expected to drive market growth over the forecast period.

Flooring products are used in numerous commercial building applications including offices, convenience stores, shopping malls, and the construction of other retail stores. The increasing construction of commercial buildings, such as drugstores, grocery, and big-box stores, over the past few years, is expected to benefit the segment growth over the forecasted period. Moreover, robust demand for office spaces, especially in urban areas of emerging economies, is also propelling demand for high-quality products in the flooring market.

The growing demand for luxury housing in European countries is one of the key drivers for the flooring market. Nearly all mid-sized and large cities such as Lisbon, Porto, Paris, Berlin, Frankfurt, Milan, and Madrid are witnessing an increase in luxury real estate investment. Furthermore, the renovation of dwellings in Europe is anticipated to create numerous opportunities for flooring vendors. Also, the booming hospitality industry in the European region is also contributing to the development of hotels, resorts, and restaurant chains which further contributes to the growth of the global flooring market. Moreover, the refurbishment and redevelopment activities in the European countries are expected to drive the market in the coming years.

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Flooring Market Report Highlights 

• The vitrified (Porcelain) tile segment led the market and accounted for over 25% of revenue share in 2023. This is owing to the properties of porcelain tiles such as additional strength, and more durability as compared to general ceramic tiles.

• The residential application segment dominated the market and accounted for 49.5% of the revenue share in 2023 in the market.

• The commercial application segment accounted for 42.8% of the revenue share in 2023. Commercial applications often involve high-traffic areas and therefore require durable flooring such as resilient and wooden.

• The Asia Pacific region dominated the market and accounted for 45.9% of the total revenue share in 2023. Factors such as increasing investment in affordable housing, smart city construction, upgradation & construction of infrastructure, and investment in the tourism sector are expected to boost the demand for flooring products over the forecast period.

• The flooring industry in the Middle East and Africa accounted for over 10% of revenue share in 2023.

Flooring Market Segmentation

Grand View Research has segmented the global flooring market report based on product, application, and region:

Flooring Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• Ceramic Tiles

• Vitrified (Porcelain) Tiles

• Carpet

• Vinyl

• Luxury Vinyl Tiles (LVT)

• Linoleum/Rubber

• Wood & Laminate

• Natural Stone

• Other Flooring Materials

Flooring Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• Residential

• Commercial

• Industrial

Flooring Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Russia

  • Romania

  • Czech Republic

  • Portugal

  • Ukraine

  • Slovakia

  • Hungary

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Indonesia

  • Philippines

  • Vietnam

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • Israel

  • Egypt

  • Qatar

  • South Africa

  • Morocco

• Central & South America

  • Brazil

  • Argentina

  • Peru

  • Colombia

  • Chile

List of Key Players of Flooring Market

• Mohawk Industries, Inc.

• Tarkett, S.A.

• AFI Licensing

• Burke Flooring Products, Inc.

• Firbo Flooring

• Shaw Industries, Inc.

• Interface, Inc

• Gerflor

• Mannington Mills, Inc.

• Polyflor

• RAK Ceramics

• Crossville Inc.

• Atlas Concorde S.P.A.

• Porcelanosa Group

• Kajaria Ceramics Limited