The textile flooring market is projected to grow at a 6% CAGR from 2019 to 2029, driven by rising demand in Asia Pacific and increased use of synthetic textiles.
A new market research report by Future Market Insights on the textile flooring market includes global industry analysis for 2014–2018 and opportunity assessment for 2019–2029. The report inspects the Textile Flooring Market and provides insightful information for the forecast period of 2019-2029. As per the conclusion of the report, the global textile flooring market is projected to experience significant growth during the forecast period. Rising consumer confidence, increasing disposable incomes, and intensifying demand for luxury flooring options due to booming residential and commercial sectors are the factors expected to contribute towards the textile flooring market growth in the upcoming years.
The global textile flooring market was valued at ~US$ 150 Bn in 2018, and is projected to register robust growth of ~6% during the period 2019 – 2029. This growth is predominantly driven by the textile industry growth. Over the past few years, consumption of textiles and furnishings for homes has witnessed consistent growth, driven by factors such as rising consumer spending on home renovation, accelerating investments in infrastructural development, and rising demand from Asian countries such as India, China, South Korea, and Indonesia.
To remain ‘ahead’ of your competitors, request for a sample – https://www.futuremarketinsights.com/reports/sample/rep-gb-1629
Rising Attractiveness of the Asia Pacific Market
The textile industry in the Asia Pacific region has registered substantial growth in the last few years, owing to rising demand from various end-use industries. Strict quality control, advanced production technologies, and customer & fashion-oriented marketing tactics are several dynamic factors attributing to the current boom in the textile flooring market. Along with this, competitive price performance ratio compared to other materials is also boosting the market growth.
Robust growth in the healthcare sector has led to demand for flooring systems for specific application types. Moreover, increasing popularity of ‘artificial grass’ in outdoor lawns and sports fields is expected to further drive sales of textile flooring in the Asia Pacific region during the forecast period.
Get a Customized Scope to Match Your Need, Ask an Expert – https://www.futuremarketinsights.com/ask-question/rep-gb-1629
Synthetic Textiles to Experience High Demand in the Market
A healthy growth trajectory is projected for the textile flooring market. In addition, rising use of synthetic textiles in residential sector is likely to result in increased market share over the forecast period.
For in-depth competitive analysis, Buy Now – https://www.futuremarketinsights.com/checkout/1629
Textile Flooring Market: Vendor Insights
The report highlights some of the key market leaders, who are well-established market players and have proven themselves as the prominent shareholders in the global textile flooring market. Some examples of key players operating in the global textile flooring market are Mohawk Industries, Inc., Interface, Inc., Beaulieu International Group N.V, Tarkett SA, Balts Group, Shaw Industries Group Inc., Forbo Holding AG, Mannington Mills, Inc., J+J Flooring Group, and Vorwerk and Co. KG, among others.
In terms of market structure and tier analysis, the global market for textile floorings is fragmented with the top 10 players holding a 35%-40% share in the overall market. This is mainly due to the reason that there are a large number of Chinese and other players involved in the manufacturing of textile floorings. Major players in the market are focusing on expansion plans to enhance production capacities and upgrade operations.
The main topic is the projected growth of the textile flooring market at a 6% CAGR from 2019 to 2029.
Rising consumer confidence, increasing disposable incomes, and demand for luxury flooring options are key drivers.
The Asia Pacific region is highlighted due to its substantial growth in demand from various end-use industries.
Explore more articles in the Research Reports category
