Commercial Flooring Market Growth- Increasing Number Of Corporate Offices In Emerging Countries

The global commercial flooring market is expected to reach approximately USD 47.69 billion by 2025, according to a new report conducted by Grand View Research, Inc. Increasing number of corporate offices in emerging economies including China, India, and Mexico on account of regulatory inclination to promote the manufacturing output on a domestic level is expected to remain a key driving factor over the next eight years.

Furthermore, rising government spending towards improving education infrastructure through implementation of new schemes including Padhe Bharat Badhe Bharat and Utkarsh Bangla Scheme is expected to have a strong impact. These factors are considered to influence the consumption of construction materials including floor coverings in education sector and hence boost their market growth.

Education segment is expected to foresee volume growth at a CAGR of 5.9% from 2017 to 2025. Growing importance of modular tiles in education spaces for providing moisture resistance and excellent dust control characteristics is projected to have a positive impact on industry. In addition, high market visibility of carpets in developing countries including China and India on account of the presence of large number soft covering manufacturers on a domestic level is projected to have a positive impact.

To request a sample copy: 
https://www.grandviewresearch.com/industry-analysis/commercial-flooring-market

Application Insights

Commercial buildings accounted for the largest share of 35.9% of the total market in 2016. The demand for commercial floorings in this application segment is estimated to rise at a steady CAGR, owing to their utilization in growing construction spending of business centers, offices, and IT parks in developing countries.

Flooring materials are useful in various floor spaces in the public building sector that includes municipal corporations, government offices, and religious places. Public buildings have the most prominent foot traffic. Hence, demand for tough and durable flooring materials in the public buildings sector is expected to increase in the next couple of years.

Competitive Insights

Major commercial flooring industry participants include Hanwha, LG Hausys, China National Building Material Co. Ltd., Flowcrete, James Halstead, Nora, Milliken Floor Covering, Novalis, Tajima, Tkflor, NOX Corporation, and Toli flooring. Vendors are constantly developing innovative goods as including display and distribution systems including virtual assistants and online catalogs to help consumers choose the perfect product for the intended applications.

For More Information: www.grandviewresearch.com