Jul 30, 2021   SOURCE: BusinessWire

Global Indoor Flooring Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Indoor Flooring Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Ceramic Tiles, Carpet, Vinyl Linoleum & Rubber, Wood & Laminate, and Others) and End user (Residential and Non-Residential)" report has been added to ResearchAndMarkets.com's offering.

The global indoor flooring market was valued at US$ 146.90 billion in 2020 and is expected to grow at a CAGR of 4.60% from 2020 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.

Market Dynamics

Drivers

  • Rise in Number of Commercial and Residential Construction Projects
  • Surge in Product Innovations and Launches

Restraints

  • Stringent Government Regulations
  • High Installation and Maintenance Costs

Opportunities

  • Increasing Use of Floor Coatings in Sports Complexes

Future Trends

  • Advancements in Indoor Flooring Materials

Companies Mentioned

  • Forbo International SA
  • Mats Inc.
  • Tarkett
  • Armstrong Flooring, Inc.
  • Beaulieu International Group
  • Ecore International
  • Interface, Inc.
  • Toli Corporation
  • Mohawk Industries, Inc.
  • Shaw Industries Group, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/fwefp5