The Asia Pacific flooring market size is anticipated
to be valued at USD 232.1 billion by 2024, accelerating at a CAGR of 4.5% over
the forecast period, as per a new report by Grand View Research Inc. High
demand for different flooring materials such as ceramic tiles, vinyl tiles, and
wooden sheets to cater to the robust construction sector in Asia Pacific is
driving the market growth.
Commercial
availability of several types of the product across Asia Pacific and increasing
popularity of resilient flooring materials are the factors ascending the market
growth. However, ceramic and natural stone floorings have consumed a significant
share in the market owing to their low cost, early acceptance, and abundant
availability in the region. Rising investments in residential construction in
China and India are also among the factors that are likely to drive industry
growth.
Products
such as LVT find an increasing demand in high-traffic commercial applications
such as in hotels, healthcare facilities, educational buildings, and government
offices on account of their aesthetic appeal and durability. LVT is projected
to witness remarkable growth over the coming years owing to its properties
including low maintenance, easy cleaning, and resistance to water & dust
and affordability. Moreover, population expansion and rising income levels in
Asia Pacific have led to their growing demand in residential construction
applications.
Key
players in Asia Pacific market compete based on pricing, product quality, and
distribution channel. Brand reputation and affordable pricing are the key
success factors for the market players to sustain in the competitive
environment. RAK Ceramics; Kajaria Ceramics Ltd.; Interface, Inc.; and Mohawk
Industries are the prominent market players in Asia Pacific.
For Full Research Report On Asia Pacific Flooring Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/asia-pacific-flooring-market
Further key findings from the report suggest:
- LVT
segment is expected to grow at the fastest CAGR of 9.5%, in terms of
volume, over the projected period
- Chinese
ceramic tiles segment stood at USD 41.1 billion in 2018 and is expected to
grow at a CAGR of 3.4% over the projected period owing to increasing
demand for the product in new residential constructions
- A
majority of the demand was driven by multi-family residential,
hospitality, and office construction sectors
- India
was a significant shareholder in terms of the product consumption in 2018
in Asia Pacific flooring market. It is anticipated to expand at a CAGR of
5.7%, in terms of revenue, over the estimated period on account of
increasing construction spending on multifamily constructions in cities
across the country
- A large
number of product manufacturers are expanding their operations in Asia
Pacific to provide floor designing and installation services, which is
likely to support the market growth.
Get request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/asia-pacific-flooring-market/request/rs1
Grand
View Research has segmented the Asia Pacific flooring market on the basis of
application by product and country:
Asia Pacific Flooring Application By Product Outlook (Volume, Thousand
Sq. Meters; Revenue, USD Million, 2014 - 2024)
- Offices
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Education
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Retail
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Government
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Hospitality
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Healthcare
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Multi-Family
Residential
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Industrial
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Transportation
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
- Others
- Broadloom
- Carpet
Tile
- Wood
- Laminate
- LVT
- Other
Resilient
- Ceramic
Tile
- Rubber
- Other
Hard Flooring
Asia Pacific Flooring Country Outlook (Volume, Thousand Sq. Meters;
Revenue, USD Million, 2014 - 2024)
- Asia
Pacific
- Australia
- New
Zealand
- Hong
Kong
- China
- Taiwan
- South
Korea
- Japan
- India
- Sri
Lanka
- Singapore
- Malaysia
- Indonesia
- Thailand
- Philippines
- Vietnam
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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