The Global Textile Flooring Market is estimated to be valued at US$ 207.46 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Textile flooring includes products such as carpets, rugs, blankets and mats that are made of synthetic or natural textile fibers. The use of textile flooring provides flexibility, comfort underfoot, sound absorption and aesthetic appeal which makes it suitable for both residential as well as commercial applications such as offices, hotels, hospitals etc.
Market key trends:
One of the key trends in the textile flooring market is the increasing demand for eco-friendly flooring solutions. Rising environmental concerns have prompted flooring manufacturers to develop sustainable flooring products made from recycled and renewable materials. For instance, Interface has launched carpet tiles made from recycled materials like nylon, polyester, and even fishing nets rescued from the ocean. Similarly, manufacturers are using natural fibers like coir, sisal, jute and seagrass in the production of area rugs and carpets. The use of natural and recycled materials help reduce dependency on virgin resources and lower carbon footprint.
Segment Analysis
The global textile flooring market is dominated by the synthetic textile flooring segment. Synthetic textiles such as polypropylene, nylon, and polyester are widely used in flooring applications due to their attractive properties like durability, strength, stain resistance, and easy maintenance. Synthetic textiles are resistant to abrasion, moisture, fading and shrinking which makes them suitable for high traffic areas. Their resistance to wear and tear makes them long-lasting and cost-effective compared to other flooring materials. Rising construction activities along with growing demand for easy to install, cost-effective and low maintenance flooring options is propelling the growth of the synthetic textile flooring segment.
Key Takeaways
The Global Textile Flooring Market Analysis is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing residential and commercial construction activities globally.
Regional analysis
Europe dominated the global textile flooring market in 2022, accounting for around 30% of the overall demand. This can be attributed to the stringent regulations regarding material recycling and energy efficiency in the construction sector across countries like Germany, UK, and France. Additionally, the presence of major textile flooring manufacturers is supporting the growth of the regional market.
Key players
Key players operating in the textile flooring market are Mohawk Industries, Inc., Interface, Inc., Beaulieu International Group N.V, Tarkett SA, Balta Group, Shaw Industries Group Inc., Forbo Holding AG, Mannington Mills, Inc., J+J Flooring Group, and Vorwerk and Co. KG. Major players are focusing on new product launches, acquisitions, and expansion strategies to gain higher market share.
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