— Avinash D
NEWARK, UNITED STATES, April 14, 2022 /EINPresswire.com/ — The Brainy Insights Launched a Study titled Resilient Flooring Market by Material Type (Vinyl Resilient Flooring, Linoleum Resilient Flooring, Cork Resilient Flooring, Rubber Resilient Flooring, Fiberglass Resilient Flooring), Construction activity (Resilient Flooring for Renovation, Resilient Flooring for New Construction), End-User, Regions, and Global Forecast 2021-2030
The global resilient flooring market is expected to grow from USD 27.41 billion in 2020 to USD 67.10 billion by 2030, at a CAGR of 12.70% during the forecast period 2021-2030. Rapid development of hospitality and tourism sector across the globe as well as growing construction of both residential and commercial sector is augmenting the growth of the global resilient flooring market.
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The vinyl resilient flooring segment led the resilient flooring market with a market share of around 65.35% in 2020
The material type segment includes vinyl resilient flooring, linoleum resilient flooring, cork resilient flooring, rubber resilient flooring, and fiberglass resilient flooring. The vinyl resilient flooring segment led the resilient flooring market with a market share of around 65.35% in 2020. The growth is mainly due to its various properties, such as water-resistant, scratch-resistant, and easy maintenance.
The resilient flooring for new construction is anticipated to grow at the highest CAGR of 13.5% over the forecast period
The construction activity segment includes resilient flooring for renovation and resilient flooring for new construction. The resilient flooring for new construction is anticipated to grow at the highest CAGR of 13.5% over the forecast period. Increasing urbanization and industrialization across the globe are boosting the demand for resilient flooring in new construction projects.
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The residential resilient flooring segment is anticipated to grow at the highest CAGR of 13.2% over the forecast period
The end-user industry segment is divided into residential resilient flooring and non-residential resilient flooring. The residential resilient flooring segment is anticipated to grow at the highest CAGR of 13.2% over the forecast period. Rising new residential constructions and increasing consumer awareness about the resilient flooring benefits are anticipated to drive the demand for resilient flooring for the residential sector.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. The Asia Pacific region emerged as the largest market for the resilient flooring market, with a 40.6% share of the market revenue in 2020. The booming real estate sector of countries such as India and China, particularly interior, has gained considerable importance in recent years, which has boosted the market growth. The European regional market is projected to register the highest growth during the forecast period due to rising construction activities of the residential sector across the region.
Major players in the global resilient flooring market are Armstrong World Industries, Inc., Tarkett, Congoleum Corporation, Mohawk Group, Shaw, Beaulieu International Group N.V., Burke Industries Inc., Karndean International Limited, Mannington Mills, and Berkshire Hathaway Inc. among others.
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