The textile flooring market is projected to reach US$ 190.26 billion in 2022 and to grow significantly from 2022 to 2029 at a CAGR of 6.8%. The main cause of this growth is the development of the textile industry.
As per the conclusion of the report, the global textile flooring market is projected to experience significant growth during the forecast period. Rising consumer confidence, increasing disposable incomes, and intensifying demand for luxury flooring options due to booming residential and commercial sectors are the factors expected to contribute to the textile flooring market growth in the upcoming years.
Over the past few years, consumption of textiles and furnishings for homes has witnessed consistent growth, driven by factors such as rising consumer spending on home renovation, accelerating investments in infrastructural development, and rising demand from Asian countries such as India, China, South Korea, and Indonesia.
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Rising Attractiveness of the Asia Pacific Market
The textile industry in the Asia Pacific region has registered substantial growth in the last few years, owing to rising demand from various end-use industries. Strict quality control, advanced production technologies, and customer & fashion-oriented marketing tactics are several dynamic factors attributing to the current boom in the textile flooring market. Along with this, the competitive price-performance ratio compared to other materials is also boosting the market growth.
Robust growth in the healthcare sector has led to demand for flooring systems for specific application types. Moreover, the increasing popularity of ‘artificial grass’ in outdoor lawns and sports fields is expected to further drive sales of textile flooring in the Asia Pacific region during the forecast period
Synthetic Textiles to Experience High Demand in the Market
A healthy growth trajectory is projected for the textile flooring market. In addition, the rising use of synthetic textiles in the residential sector is likely to result in increased market share over the forecast period.
Synthetic textiles are widely utilized for the production of textile flooring. Synthetic textiles are projected to register significant growth in the global textile flooring market during the forecast period. Synthetic textile-based flooring is one of the key components of interior refurbishment systems used in residential and commercial spaces.
Consumers mainly attribute the growth of textile flooring based on tufting technology to the fact that it is the most commonly accepted technology by manufacturers in terms of manufacturing cost, as well as easy installation and ease of use.
Textile Flooring Market: Vendor Insights
The report highlights some of the key market leaders, who are well-established market players and have proven themselves as prominent shareholders in the global textile flooring market.
Key players operating in the global textile flooring market
- Mohawk Industries, Inc.
- Interface, Inc.
- Beaulieu International Group N.V
- Tarkett SA
- Balts Group
- Shaw Industries Group Inc.
- Forbo Holding AG
- Mannington Mills, Inc.
- J+J Flooring Group
- Vorwerk and Co. KG
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Textile Flooring Market By Category
By Material Type :
- Synthetic Textiles
- Animal Textiles
- Plant Textiles
By Product Type :
- Rugs
- Carpets
By Technology :
- Tufting
- Woven
- Needlefelt
By Application :
- Residential
- Commercial
- Others (Industrial, etc.)
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa (MEA)
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