A new market research report by Future Market Insights on the Textile Flooring Market includes a global industry analysis for 2018–2021 and an opportunity assessment for 2022–2029. Future Market Insights states that the sales in the global textile flooring market are anticipated to top US$ 301.52 Billion by 2029, expanding at a CAGR of 6.8% during the forecast period 2022-2029.
Textile flooring, often known as soft flooring or carpeting, has been a popular choice for residential, commercial, and industrial applications for decades. Textile flooring has grown in popularity due to its comfort, beauty, and sound-absorbing properties. This market research looks at the present trends, developments, and growth prospects driving the global textile flooring industry. The textile flooring sector has constantly expanded as a result of factors such as increasing urbanization, rising disposable incomes, and increased commercial development activity. Carpeting’s versatility and wide range of designs, patterns, and colors make it an appealing option for updating interior spaces in a variety of industries.
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The global textile flooring market is predicted to grow significantly during the forecast period, according to the report’s findings. Rising consumer confidence, rising disposable incomes, and higher demand for luxury flooring solutions as the residential and commercial sectors develop are expected to boost textile flooring market expansion in the coming years.
The global textile flooring market is estimated to be valued at US$ 190.26 Bn in 2022 and is projected to register robust growth of 6.8% during the period 2022 – 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.
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, the 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, the 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
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Synthetic Textiles to Experience High Demand in the Market
A healthy growth trajectory is projected for the textile flooring market. In addition, the rising use of synthetic textiles in the residential sector is likely to result in increased market share over the forecast period.
Synthetic textiles are widely utilized for the production of textile flooring. Synthetic textiles are projected to register significant growth in the global textile flooring market during the forecast period. Synthetic textile-based flooring is one of the key components of interior refurbishment systems used in residential and commercial spaces.
Consumers mainly attribute the growth of textile flooring based on tufting technology to the fact that it is the most commonly accepted technology by manufacturers in terms of manufacturing cost, as well as easy installation and ease of use.
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 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.
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Key Segmentation
By Material Type :
- Synthetic Textiles
- Animal Textiles
- Plant Textiles
By Product Type :
- Rugs
- Carpets
By Technology :
- Tufting
- Woven
- Needlefelt
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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