Soft Covering Flooring Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Soft Covering Flooring Market


The global Soft Covering Flooring market size is projected to reach US$ 108.7 billion by 2026, from US$ 89.98 billion in 2020, at a CAGR of 3.2% during 2021-2026. Rising demand for carpet tiles on account of availability in a range of colors, patters, and textures is expected to drive the growth.

Soft covering flooring manufacturers are involved into production of different products including carpets and area rugs which such as roll goods, carpet tiles, bath mates, and broadlooms among others. Carpet tiles and broadloom are the majorly used soft covering floorings on account of superior attributes, such as flexibility and dimensional stability.

U.S. is expected to register significant growth over the forecast period on account of rise in the construction of residential and commercial structures. In addition, rise in household refurbishing is also expected to promote market growth in the country over the next seven years.

Synthetic fibers, such as nylon, polyester, triexta, and polypropylene are used as a primary raw materials for manufacturing carpet tiles and broadlooms. Abundance of these raw materials is expected to drive the soft covering market over the forecast period. Carpets are also made from natural fibers thereby increasing the overall product cost.

A high volume of raw materials is required to manufacture the products with the majority being sourced from low cost Asian manufacturers. An unanticipated termination or interruption in supply of raw material, the fluctuating prices of raw materials and fuel-related costs based on market conditions, have significant impact on the final prices of the product.

Performance of carpets majorly depends on the manufacturing process of the yarn coupled with the tufting density of the carpet. As a result, major players operating in the industry have resorted to the use of automated tufting and yarn production. The choice of yarn dyeing technologies, such as solution and digital dyeing has a major impact on product design and flexibility.

Enforcement of stringent regulations related to carbon emission and disposal of waste have major influence on the carpet tile and broadloom manufacturing. This has resulted in an increase in recycling of post-consumer carpets with increased focus on reverse distribution system to encourage return of carpet tiles.

Market Segmentation, Outlook & Viewpoint: Global Soft Covering Flooring Market

Product Market Segmentation & Outlook (Volume, Million Square Feet; Revenue, USD Million, 2014 - 2025)

  
Carpet Tiles
  
Broadloom

Application Market Segmentation & Outlook (Volume, Million Square Feet; Revenue, USD Million, 2014 - 2025)

  
Residential
  
Commercial

Key Players, Recent Developments & Regional Insights: Global Soft Covering Flooring Market

Carpet tiles segment is expected to expand at a CAGR 3.6% in terms of revenue, from 2018 to 2025 on account of the convenience of rotation and replacement that the product offers. In addition, carpet tiles aid access to the electrical, telephone, sub-floor air delivery systems, and computer wirings with minimum operation disruption thereby driving the product demand.

Carpet tiles eliminate unsightly appearance and cumulative damage associated with the cutting of traditional carpets during disconnections and connections. High demand primarily from retail facilities, hospitality spaces, educational and other institutions, airports, healthcare facilities, offices, is expected to open new avenues for market growth.
Broadloom is the most traditional and popular choice for carpeting in residential and commercial applications and accounted for 74.4% of market share in terms of volume in 2017. Broadlooms moisture backing provide high stain resistance and seams which can be hidden using chemical welding. In addition, superior aesthetics provided by broadloom flooring is expected to drive growth.

Application Insights

The residential segment is responsible for the 56.5% of the industry sales volume in 2017 on account of increasing replacement and refurbishing activities. In addition, growth in population coupled with rise in the number of the nuclear families across the globe is expected to drive the demand from residential application segment over the forecast period.

Soft covering flooring provides insulation against cold weather and aids in heat entrapment, resulting in decreased energy consumption. In addition, majority of the economies across the globe have exhibited a trend of the renovation of existing structures to decrease the buildings energy consumption, which is projected to boost product demand over the forecast period.

The commercial application segment is expected to register a CAGR of 3.3% over the projected period on account rising demand for product from education, health-care, retail facilities, hospitality services, airports, and offices. Carpet tiles with distinctive patterns and styles are used the commercial building to complement interior design thereby driving growth.

Rising demand for innovative styles and designs from high-end commercial applications coupled with the growth of commercial replacement market is expected to promote the industry growth. Furthermore, rising investments in the commercial real estate coupled with expanding tourism and hospitality industries is likely to drive the soft covering flooring market.

Regional Insights

North America accounted for 37.0% of volume share in 2017 on account of high penetration of the product in residential and commercial buildings due to high durability and easy installation process. Furthermore, increasing retail outlets and commercial buildings on account of rising urbanization in Mexico is likely to propel the demand for construction materials in the region.

Rising construction of green buildings in U.S. is expected to fuel the consumption of eco-friendly and lightweight floor coverings. In addition, increasing consumer expenditure for construction of residential buildings coupled with rising per capita income is likely to aid households to afford home interiors including expensive flooring solutions.
Middle East and Africa market is expected to register at a CAGR of 5.5% over the period from 2018 to 2025 on account of the rapid development of construction industry. Rising demand for stain-proof, bleach resistant, and anti-microbial carpets tiles for applications in healthcare facilities and hospitality industry is expected to propel growth.
Soft covering floorings are available at low costs and possess characteristics, such as ease of maintenance, better aesthetics, moisture, fire, and scratch resistance which makes them preferable flooring material for commercial application segment. Rising demand from the replacement market primarily from the hotels, offices, and mosques in the GCC countries is expected to propel growth over the projected period.

Soft Covering Flooring Market Share Insights

The market is highly competitive with the presence of large number of local and international players operating across the globe. The top manufacturers such as Shaw Industries Group, Inc.; Mohawk Industries Inc.; Engineered Floors LLC; Beaulieu Group LLC; Dixie Group Inc.; and Tuftex accounted for over 62% of market share in 2017.
These manufacturers offer a wide variety of soft flooring and differ from each other based on attributes such as product quality, service provided, price of carpet, product availability along with use of disrupting technology to manufacture the carpets. In addition, the major players are involved in business consolidation and integration to ease the availability of raw materials.

Key Insights Covered: Global Soft Covering Flooring Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Soft Covering Flooring industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Soft Covering Flooring industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Soft Covering Flooring industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Soft Covering Flooring industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Soft Covering Flooring industry.

Research Methodology: Global Soft Covering Flooring Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other