Published By : 08 Jun 2017 | Published By : QYRESEARCH
The flooring market is a vital part of the construction industry and has thus grown steadily along with the construction industry in recent years. The steady demand from the construction industry for renovations as well as new development is likely to remain a key driver for the global flooring market in the coming years. Flooring has become a well-researched field in recent years and now includes several application-specific products designed according to specific design parameters. These products are likely to be a major revenue generator for the global flooring market in the coming years.
Booming Construction Industry in Developing Regions Key Factor for Flooring Market
One of the most important factors set to have a lasting impact on the global flooring market is the flourishing construction industry in emerging countries such as India, China, Thailand, Indonesia, Brazil, South Africa, the UAE, and Mexico. Emerging countries such as these were relatively unaffected by the 2008-09 recession and have witnessed largely untroubled growth of the construction industry through the ongoing decade. The rapid urbanization in these countries is likely to present significant scope for the global flooring market, as, allied to the consistent need, the growing variety of flooring options and the increasing purchasing power of consumers in emerging economies is a key driver for the flooring market.
Europe, Asia Pacific Likely to Lead Demand from Global Flooring Market
Asia Pacific is likely to be the leading regional contributor to the global flooring market due to the consistent demand from countries such as China, India, and Japan. However, the progressive product development scenario in the Europe flooring market is also likely to play an important role in the global flooring market. The rising demand for alternative flooring options such as wood and rugs is likely to drive the Europe flooring market at a consistent pace in the coming years.