In, flooring market the investment is generally feasible for the new innovative projects making it ideal source of information for manufacturers, suppliers, distributors, customers, investors and individuals who have interest in this market. Flooring sector has witnessed the dynamic change in the construction industry since the past few years. As the standard of living of consumers has been changing since the past few years, there has been an increase in the personal disposal income and the growing urbanization is helping in growing the demand of flooring.
With changes in the construction sector, refurbishment trends and home improvement is favouring the revenue generation. Now a days, consumers are believe in smart investment, they usually go for the durable, cost effective, and visually appealing products.
Segmentation of flooring market on the basis of application
Segmentation of the flooring market on the basis of product:
Report titled “Global Flooring Market Status, 2011-2022 Market Historical and Forecasts, Professional Market Research Report” predicts, demand for the residential flooring is growing drastically, especially in the emerging counties such as India, as the construction industry is still growing in the emerging regions .the economic growth and the bright future forecast of high investment in the construction industry are the key driving factor driving the growth and innovation in the flooring industry in the emerging countries.
Asia pacific was ranked the largest regional segment of flooring market in 2014. In India, the rise in the construction activities and the commercialization has been the primary factors for growth in the flooring market.
The demand for the flooring market is rising due the following factors:
Increase in corporate earnings
Rise in per capita income and spending
GDP growth in emerging regions
Ken Research, a market research firm says, the flooring market is a growing sector which is inviting new players in the market and making existing players to innovate in the dynamic environment due to the intense competition in the market. The main focus of the large vendors is to create a brand which is affordable by every class of people. The increasing concerns for the environment have significantly impacted the manufacturers to develop co-friendly materials.
The flooring market is already a success in emerged nations like Europe but is still growing in the emerging nations and it is growing with the rapid development in the industry policy.