Mohawk Industries (US) and Shaw Industries (US) are the Key Players in the Flooring Market

Floor covering is a well-engineered material applied over a floor structure in order to provide a walking surface. It provides a level surface and supports static and dynamic loads. The various materials generally employed for flooring purposes include carpets & rugs, ceramic tiles, wood, laminates, vinyl tiles & sheets, and stones. It plays a vital role in enhancing the aesthetics of residential and commercial construction. The flooring market is estimated at USD 339.29 Billion in 2018 and is projected to reach USD 447.74 Billion by 2023, at a CAGR of 5.7%. The rise in population and rapid urbanization is expected to drive the growth of the flooring market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110789434

The flooring market is dominated by major players such as Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), and Forbo (Switzerland). Extensive product portfolio, coupled with a network of facilities across the globe, contribute toward the leading position of these market players. These players have adopted various strategies to expand their global presence and increase their market share. New product launches, expansions, investments, acquisitions, and partnerships are some of the major strategies adopted by the market players to achieve growth in the flooring market.

www.marketsandmarkets.com/Market-Reports/flooring-market
Mohawk Industries (US) is one of the key manufacturers of flooring materials. Its extensive flooring product portfolio comprising carpet & rugs, ceramic tiles, stone, hardwood, laminate, and luxury vinyl tiles cater to a variety of application areas in the construction industry. The strong global presence and adoption of growth strategies such as acquisitions, expansions, and investments have ensured its leading position in the market. In January 2018, the company announced a USD 10 million investment to expand its manufacturing operations in Glasgow, Virginia, US. This investment is expected to support the demand for Mohawk’s commercial carpet tiles. The acquisitions of Godfrey Hirst Group (Australia), KAI Group (Bulgaria), IVC (Belgium), Magnum Parquet (Czech Republic), Spano Invest NV (Belgium), Marazzi Group (Italy), and Pergo (US) have further strengthened its market presence and product portfolio.

Shaw Industries (US), a subsidiary of Berkshire Hathaway Company, is a full-service flooring company. Its businesses are supported by a wide marketing and distribution network and have established a reputation gaining strong customer support. Over the years, Shaw Industries has expanded its activities into Europe and China. In February 2018, the company acquired Scotland-based carpet tile manufacturer named STS (Sanquhar Tile Services) to expand its presence in the European region. Moreover, it also announced plans to invest over USD 42 million in its carpet plant located in Meigs County, Ohio, US, aiming at modernizing the facility and allowing the company to use both, polyester and nylon fiber at this facility, comprising recycled PET. The company focuses on sustainability and has advanced well on the social, environmental, and economic agenda pursued over the last few years.

Market Dynamics: 

 Drivers
  • Rise in population & rapid urbanization
  • Increase in investments in the construction industry
  • Rise in the number of renovation & remodeling activities
  • Rapid industrialization
Restraints
  • Volatile raw material prices
  • Rise in health & environmental concerns
Opportunities
  • Growth of the organized retail sector
  • Rise in demand from emerging economies
Challenges
  • Disposal of waste

To know about the assumptions considered for the study, Speak with our Expert HERE 

Comments

Post a Comment

Popular posts from this blog

Building Thermal Insulation Market : Size Analysis by Key Players, End Users, Technologies, Growth & Forecast 2027

  The report  " Building Thermal Insulation Market  by Material (Glasswool, Stonewool, Plastic Foam), Application (Roof Insulation, Floor Insulation, Wall Insulation), Building Type (Residential, Non-Residential) and Region - Global Forecast to 2027",  will grow to USD 35.3 billion by 2027, at a CAGR of 4.7% from USD 28.0 billion in 2022. Browse  in-depth TOC on  "Building Thermal Insulation Market" 313 market data Tables 63 Figures  274 Pages  Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=510 Building thermal insulation is used to reduce the amount of energy required to heat or cool a house and minimize the amount of heat that escapes during the winter and limits the hot summer air to penetrate the house. It is the most cost-effective measure in climates that have a wide range of annual average temperatures. The resistance to heat flow of insulation is measured or rated in terms of its thermal resistance or R-value. The higher the
Read more

Face Mask Market – Business Opportunities and Global Forecast to 2027

The report " Face Mask Market  by Nature (Disposable, Reusable), Material Type, Type (Surgical, Respirator), End-Use, Distribution Channel (Pharmacy & Drug Stores, Supermarket & Hypermarket, Specialty Stores, E-commerce) and Region - Global Forecast to 2027 "The face mask market is projected to grow from USD 25.1 billion in 2022 to USD 3.0 billion by 2027, at a CAGR of -34.5% from 2022 to 2027. The market is projected to witness tremendous growth from 2018 to 2021, followed by a sharp decrease in the years till 2027. Factors contributing to the exponential growth and then decrease during the forecast period in the spread of the COVID-19 globally, and the possible decrease in the spread of the novel coronavirus after the years 2022. Other factors such as the rise in consumer awareness pertaining to the importance of face masks, and the surge in social media marketing to encourage a positive attitude towards wearing masks, are driving the demand for face masks globally.
Read more

Solar Photovoltaic Glass Market Outlook: Emerging Trends and Forecast to 2027

Solar photovoltaic glass market size is projected to reach USD 21.1 billion by 2027 from USD 6.2 billion in 2022 growing at a CAGR of 27.9%. Solar Photovoltaic Glass, also known as solar PV glass or solar glass, refers to a specialized type of glass that is designed to generate electricity from sunlight. It combines the functionality of traditional glass with the energy-producing capabilities of photovoltaic (PV) technology. Solar Photovoltaic Glass is typically made by integrating thin-film solar cells or crystalline silicon solar cells into the glass structure during the manufacturing process. These solar cells are responsible for converting sunlight into electricity through the photovoltaic effect. The glass serves as a protective and supportive layer for the solar cells, allowing them to function effectively while maintaining transparency. The main purpose of Solar Photovoltaic Glass is to capture solar energy and convert it into usable electricity. It finds applications in various
Read more