Sellbyville, DE -- (SBWIRE) -- 05/08/2019 -- Global Market Insights recently introduced new report on global Flooring market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2024. It also provides complete overview of Flooring industry considering all the major industry trends, market dynamics and competitive scenario.

Robust increase in construction spending across industrial, commercial, and residential sectors has significantly upscaled flooring market demand, especially across emerging nations. As per reliable estimates, global construction spending is expected to surpass USD 15 trillion by the end of 2024, which clearly portrays the lucrative opportunities for the global market in the coming years.

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Smart flooring has already become the latest buzzword among the infrastructural players, with workplace décor and stylish homes claimed to be the ultimate reflection of high standards of living. In response to the growing demand for flooring materials with blend of style, economic, as well as efficiency quotients, flooring market giants are coming up with variety of options that not only reflects aesthetics in design, but also stands as the test of time. The growth prospect of market is forecast to be substantially high in the ensuing years, augmented by the expanding construction ecosystem.

Considering geographical trends, the flooring market size has, of late, witnessed a rapid escalation in the emerging economies – Asia Pacific being one of the major names in the list of growth avenues. The reason behind APAC to become the preferred investment destination for market giants is quite overt- its expanding construction sector. As per reliable sources, APAC is projected to account for over 46% of the global construction market by 2020. Besides, extensive developments in manufacturing sector along with growing population have further propelled flooring industry proliferation in this belt.

Accounting for a sizable chunk of almost 35% of the overall industry share in 2016, soft covering emerged as one of the leading product domains in the global business space. The increasing demand for rugs and carpets in offices and housing complexes has phenomenally swayed the product penetration across major economies. Endorsed with a unique dust binding property and reduced noise effect, soft flooring market was almost USD 110 billion in 2016.

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With established giants leading the way toward innovative products and solutions, it is certain that flooring market is certain to undergo a positive transformation in the coming years. In terms of commercialization, Global Market Insights, Inc., estimates flooring industry size to exceed a valuation of USD 450 billion by 2024.

Accounting for a sizable chunk of almost 35% of the overall industry share in 2016, soft covering emerged as one of the leading product domains in the global business space. The increasing demand for rugs and carpets in offices and housing complexes has phenomenally swayed the product penetration across major economies. Endorsed with a unique dust binding property and reduced noise effect, soft flooring market was almost USD 110 billion in 2016.

The Flooring market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Flooring market based on product, technology, end user and region.

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Flooring industry is highly fragmented with the presence of a large number of regional and local manufacturers. Some of the leading names include:

- Tarkett
- Shaw Floors
- Mannington Mills
- Beaulieu
- Armstrong
- Marazzi Group
- Mohawk Industries

Driven by the sustainability trends that have created an increasing demand for ecofriendly floor coverings, these giants are heavily investing in innovative solutions that are not only stylish in décor but also are environmentally viable.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.