Technavio Identifies Top Three Emerging Trends for the Global Flooring Market Through 2020
By Business Wire News
By Business Wire News
Technavio’s latest global flooring market report highlights the top three emerging trends that are expected to impact the market’s growth through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
“Flooring is a crucial element of interiors, and we are seeing investments flow into this market in terms of new customized design, color, texture, and size. Flooring manufacturers are developing new technologies and flooring options to maintain their market share in this highly competitive market. For instance, to reduce the carbon footprint during the manufacturing process, vendors are deploying new techniques that aid the replacement of fuel oil with liquefied petroleum gas or natural gas, and augment the use of recycled waste,” says Technavio’s lead construction research market analyst Soumya Mutsuddi.
“Therefore, manufacturers are setting new benchmarks for small vendors in terms of efficiency, quality, and design. In terms of marketing, large vendors are focusing on creating a brand identity and flooring products that are affordable to all classes,” adds Soumya.
Some top vendors covered in this report:
- Armstrong Flooring
- Mannington Mills
The following top three emerging trends impacting market shares of these vendors according to Technavio’s analyst are-
Increasing demand for recycled flooring materials
The manufacture of lumber and wood flooring from fresh raw materials takes nearly 10 times more energy compared with salvaged materials.
Earlier, scrap generated from the demolition of structures was considered to be junk. However, in the present scenario, architects, interior decorators, and construction companies are not only finding it economical, but also environmentally friendly to use. For instance, demolished exterior wood shingles can be used for the purpose of flooring, and maple floorings can be used for the construction of shelves. Use of recycled materials will therefore result in a positive impact on the environment during the forecast period, notes Soumya.
Flooring options with different material mixes
There has been an increase in the choice of floorings available in the market in terms of color and texture over the last decade. However, over the last few years, there has also been an increase in the type of floorings sold in the market. A tile infused with glass adds a glossy finish and is normally used for walls as they are not suitable for high wear and tear. These same tiles can also be used on the floor in which case they would be used for decorative purposes subject to minimal wear and tear. Similarly, a tile infused with metal makes it more robust thereby making it suitable for extreme conditions. An example of such use would be tiles used in cafeterias where the tiles are subject to high wear and tear on a regular basis. Another example is a mixture of wood with stones that is predicted to find growing application in cladding and other interior decoration purposes over the next four years, reports Technavio’s analysis.
Increased investment in high-rise buildings
The rise in standards of living, especially in emerging markets, is propelling the demand for high-rise buildings. This increase in high-rise building construction is in turn driving the demand for flooring materials in these markets. As of 2015, Asia accounted for around 74% globally whereas the Americas and EMEA accounted for close to 13% and 12%, respectively. Such large-scale building construction activity is expected to spur the demand for flooring as anticipated by this report.
Browse related reports:
- Ceramic Tile Market in The UK 2015-2019
- Ceramic Tiles Market in GCC 2015-2019
- Ceramic Tiles Market in India 2015-2019
- Global Construction Ceramic Tiles Market 2015-2019
- Global Construction Wooden Floor Market 2015-2019
- Global Floor Covering Market – Market Research Report 2015-2019
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