Flooring is one of the most attractive sub-segment of construction market. It is divided into two major segments, comprising of soft flooring and hard flooring. The carpet tiles, which are a part of soft flooring is referred to as carpet squares or modular carpet and are popular in both residential as well as non-residential sectors. Their flexibility in the terms of ease of installation, highly level of customizability in terms of design and size, optimum pricing, and certain attributes such as noise insulation and easy maintenance make their demand high.
The global carpet tile market can be segmented on the basis of its end users; into residential and non-residential. Non-Residential comprises of offices, educational institutes, retail, healthcare, and hospitability.
Factors such as increasing construction spending, rising office completion volume, growing disposable income and comparative advantages over other flooring solutions are the chief growth drivers for this market. However, shift towards hard floor coverings such as wood & ceramics and high sensitivity to economic fluctuations tend to hinder the growth prospects of this market. The major trend for global carpet tile suggests renovation construction to remain as a key demand creator.
The report “Global Carpet Tile Market (by Segment & Region): Industry Analysis & Outlook (2017-2021)” provides a comprehensive study of global market and also major regional markets. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in-depth. The global market is highly competitive consisting of several large enterprises including Mohawk Industries Inc., Tarkett SA, Interface, Inc. and Balta Group NV. The competitive landscape of the respective market, along with the company profiles of leading players are discussed in detail.