Resilient Flooring Global Market Report 2022

New York, June 06, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Resilient Flooring Global Market Report 2022" -
Ltd of the United Kingdom, Mannington Mills Ltd of the United States, Unilin of Belgium, Milliken and Company of the United States, Nora, Fatra a.s., American Biltrite Inc, Polyflor Ltd, Burke Industries Inc, Karndean International Limited, Berkshire Hathaway Inc, Alite floor, Pergo, Domco Tarkett Inc, and DLW Flooring.

The global resilient flooring market is expected to grow from $31.85 billion in 2021 to $34.45 billion in 2022 at a compound annual growth rate (CAGR) of 8.15%. The growth is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $47.27 billion in 2026 at a CAGR of 8.23%.

The resilient flooring market consists of sales of resilient flooring products by entities (organizations, sole traders, and partnerships) that refer to polymer floors engineered for comfort, flexibility, and design.Resilient flooring is a combination of fillers, binders, and colors, and it is also known as vinyl flooring.

Filler materials include synthetic fibers, limestone, and mineral fillers like asbestos.The material that binds the mixture together will be either asphalt or resin.

Resilient flooring consists of linoleum, asphalt, vinyl, rubber, wood, and cork.

The main types of resilient flooring are luxury vinyl tile, vinyl sheet and floor tile, rubber, linoleum, and others.Luxury vinyl tile is a high-tech, multi-layer vinyl floor that mimics types of flooring like stone tiles or wood planks.

Resilient flooring is applied in construction activities such as renovations and new construction. These are also used in residential applications, commercial applications, and other applications.

Asia-Pacific was the largest region in the resilient flooring market in 2021 and is also expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Rapid urbanisation is contributing to the growth of the resilient flooring market.Economic, political, and social issues will combine with the circumstances of modernization to make people migrate from rural areas to urban areas.

The expansion of modern offices, rapid urbanization, and evolving lifestyles are paving the way for the growth of newer flooring substances.For instance, according to flashpacking data from 2019, by 2050, 68% of the world population is projected to live in urban areas.

Urbanization is attractive to rural citizens for many reasons, and it creates a quality of life. Thus, rapid urbanisation will drive the growth of the resilient flooring market.

Technological advancement is a key trend gaining popularity in the resilient flooring market.More consumers are looking for ideas to make homes more sustainable.

With trends such as solar panelling and energy efficiency, more and more homeowners are using eco-friendly building materials.Resilient flooring requires nonrenewable resources for manufacturing, which makes it difficult to deal with consumers' preference for sustainable materials.

For example, in 2021, Beaulieu Flooring is having hefty sales to deliver resilient flooring that answers design, function, and sustainability in the future.

In November 2019, Armstrong World Industries, Inc., a US-based company and manufacturer of innovative commercial and residential ceilings, acquired MRK Industries, Inc. for an undisclosed amount. This acquisition will further advance AWI's strategy for selling into spaces and by powerful architectural specialties with the broadest portfolio and capabilities. MRK Industries, Inc. is a US-based company that manufactures specialty metal ceilings and exterior solutions.

The countries covered in the Resilient Flooring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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