Global Soft Covering Flooring Market: Overview
Broadloom, carpet tiles, and rugs typically constitute soft covering flooring, which have dust-binding characteristics. Other benefits of soft covering floors can are heat insulation and noise reduction, along with comfort. They serve to upgrade the look of the office or improve the home décor. A report by Transparency Market Research throws light on such USPs of soft covering flooring that is promoting their sales. It also discussing the competitive landscape and size of the market for soft covering flooring.
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The report segments the soft covering flooring market based on different parameters in order to study the market in-depth. For example, depending upon products, it segments the market into broadloom carpet, carpet tiles, and area rugs. Based upon materials again, it categorizes the market into rubber, vinyl, and renewable sources such as linoleum. Application-wise, the market can be split into commercial and residential floor constructions.
Global Soft Covering Flooring Market: Key Trends
Rising incomes of people worldwide along with increasing construction of residential and commercial complexes has provided a fillip to the demand for soft covering flooring market. Aspiring home owners are not just buying new ones but also spending liberally on their décor. Same goes for office upgrades to impart a more sophisticated look to them. Apart from that, emergence of premium products in the market is also boosting demand and sales. At present, the carpet tiles that are seeing soaring sales are majorly boosting the market.
In addition, thrust on research and development to create better products and improving manufacturing technologies are benefitting the market as well. Savvy players are tapping into the latest trend of eco-friendly materials in floor-covering. However, the product segment of carpet is facing stiff competition from the much sought after hard surface floors in commercial and residential applications. Another challenge for the market is the proper disposal of rugs, carpets, and broadlooms, which generate a lot of waste. This is already earning the ire of environmentalists and regulatory bodies, and will likely deal a blow to the market.
Global Soft Covering Flooring Market: Regional Outlook
The region of North America holds a sway over the soft covering flooring market due to the production of eco-friendly and sustainable carpets and their subsequent sales. The U.S. is the main driver of growth in the region. In 2016, the region accounted for about 35.0% share in the market. Asia Pacific trails North America in terms of market share. The market in the region is mainly powered by China and India. The two populous fast-expanding economies are seeing growing spends by its populace on renovation and home improvement activities in these countries.
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Global Soft Covering Flooring Market: Competitive Dynamics
To take on competition in the market, most keen players are seen banking upon partnerships and acquisitions. This enables them to diversify their product portfolio and expand geographic outreach. Some of the key players in the market for soft covering flooring profiled in the report are Cargill Inc, Abbey Carpet Company Inc., Beaulieu Group LLC, AstroTurf LLC, Dixie Group Inc., and Bentley Mills Inc. The report sheds light on their winning strategies, product portfolios, and sales and revenues. It leverages various market-leading analytical tools to gauge the headwinds and tailwinds they might encounter in future.