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Soft Covering Flooring Market Research 2020-2025 Report by Size, Share, Revenue, Business Growth, Demand and Applications

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Rahul Sharma
Soft Covering Flooring Market Research 2020-2025 Report by Size, Share, Revenue, Business Growth, Demand and Applications

Soft Covering Flooring Market size was valued at USD 110.09 billion in 2013 and is anticipated to exceed USD 152.5 billion by 2020, with a CAGR of about 5.2%. Better choices available for residential floor replacements and increasing home improvement needs are anticipated to fuel market growth over the forecast period. Soft covering floors provide distinctive benefits such as noise-reduction, dust-binding characteristics, comfort and insulation together with attractive aesthetics. Besides, enhancing the visual appeal in offices and at homes and covering floors, carpets tiles and rugs offer a protecting layer to floors. In cold countries, these products are used widely to prevent the floor from getting too cold.

 

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The key driving factors responsible for the growth of Soft Covering Flooring market :

 

U.S and other developed countries witness a huge demand for rugs and carpets. However, with rising number of consumers willing to spend on floor coverings to improve the aesthetic appeal at home and in offices, the demand for rugs and carpet tiles is anticipated to diminish Soft covering floors consist of rugs & carpets and broadloom which provide good insulation and have an appeal of a luxurious exterior. Nevertheless, resilient floors including vinyl tiles are gaining momentum in present times in residential as well as commercial applications. This may impede market growth and deter market demand.

 

Growth opportunities for new entrants in the soft covering flooring market majorly can be anticipated in the manufacturing technology and research & development domains. In addition, growing awareness regarding the advantages of spending on eco-friendly materials in floor covering manufacturing can be beneficial by utilizing easy availability of key suppliers in the industry.

 

Major sales and distribution channels include online shopping, furniture stores, departmental stores and catalogs that maintain rug and carpets. Additionally, bi box discount stores and home centers are important channels for a wide range of products from mid-priced to promotional rugs.

 

One of the key issues in present times is the waste disposal problem. Although the industry is growing at a steady rate, huge amount of waste id created due to used rugs, broadlooms and rugs. Improper and lacking waste-disposal solutions are anticipated to draw the attention of regulatory bodies and environmentalists.

 

Application Insights

 

The replacement and residential new construction segment contributed to nearly 70% of the total revenue in 2013. Robust construction activity in developing countries has been on a rise in the past few years and this has propelled demand for construction materials including wall coverings and flooring. Demand for non-residential segment is expected to be impacted by commercial, institutional, and office, construction. Growing interest of consumers and shifting preference towards rugs and carpets for home décor to maintain better homes coupled with increasing investments in commercial real estate has boosted market demand for flooring solutions. Services in hospitality and expanding tourism market are expected to drive the soft covering flooring industry over the forecast period.

 

View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/soft-covering-flooring-market

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