The global indoor flooring market was valued at US$ 146.90 billion in 2020 and is expected to grow at a CAGR of 4.9% during the forecast period of 2021 to 2028 to reach US$ 210.66 billion by 2028.
Indoor flooring has waterproof, anti-static, scratch resistance, and anti-skid properties, among others. Due to these properties, it is favoured in industrial and construction sectors. Indoor flooring protects the concrete, tiles, and other surfaces onto which it is installed. It is responsible for extending the life of underlying floor bases. It is inert to oils, detergents, and cleaners. Indoor flooring is also used to improve the aesthetic appeal of the floor. It is available in various colors, shades, and textures. Ceramic tiles, carpets, vinyl rolls, and other indoor flooring products are used on surfaces. The aesthetic appeal of colorful indoor flooring products is expected to drive the market for applications in new housing projects and the renovation of old houses. The seamless floor’s aesthetic appeal is expected to entice buyers towards indoor flooring products during the forecast period.
Impact of COVID-19 Pandemic on Indoor Flooring Market
The COVID-19 outbreak has significantly impacted infrastructure development and the global economy. International response to the rapid disruption to key infrastructure sectors and industries is ongoing. According to the latest situation report from World Health Organization, the US, India, Brazil, Russia, the UK, France, Spain, and Italy are among the worst affected countries due to the COVID-19 outbreak. The outbreak first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. The COVID-19 crisis has affected the industries worldwide. The global economy was adversely affected in 2020, which is likely to continue in 2021. The pandemic has disturbed indoor flooring businesses and suppliers around the globe. Market players experienced disruptions in their operations, and they are likely to face consequences till mid-2021. The factory shutdowns, trade bans, and border lockdowns have adversely affected the indoor flooring industry. On the flipper side, the market is opening in 2021 so it expected to gain traction in the near future.
The overall indoor flooring market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the indoor flooring market with respect to all the segments. It also provides the overview and forecast for the global indoor flooring market based on all the segmentation provided with respect to five major regions?North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the indoor flooring market. Major players operating in the global indoor flooring market include Forbo International SA; Mats Inc.; Tarkett; Armstrong Flooring, Inc.; Beaulieu International Group; Ecore International, Interface, Inc.; Toli Corporation; Mohawk Industries, Inc.; and Shaw Industries Group, Inc.