San Francisco, California, May 20, 2015 (GLOBE NEWSWIRE) -- The global resilient flooring market is expected to reach USD 77.04 billion by 2020, according to a new study by Grand View Research, Inc. Development of hassle-free installation techniques and innovative products as a result of significant technological advancements has widened resilient flooring's scope across commercial, industrial, and residential applications. Increased awareness pertaining to the use of eco-friendly flooring materials including cork, glass, linoleum, Polyester (P.E.T) Berber, and rubber is expected to favorably impact the resilient flooring market growth.
Browse to access In-depth research report on Global Resilient Flooring Market with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/resilient-flooring-market
Resilient flooring, including luxury vinyl tiles (LVT), vinyl composite tiles (VCT), vinyl-backed sheet, fiberglass-backed sheet, linoleum, and rubber provide a high degree of performance in high traffic areas. Resilient floorings' demand has undergone high growth over the last decade owing to their ability to be created with any combination of wearlayer protectants that minimize scratching, scuffs, and stains due to daily wear and tear.
Increasing fossil fuel prices, which constitute the primary raw material for resilient floorings, is expected to considerably shrink manufacturers' margins thereby having a significant impact on resilient flooring market growth. Resilient flooring manufacturers have taken recourse to enhancing production efficiency by developing new technologies in order to counter this issue.
Further key findings from the study suggest:
- Vinyl sheets goods are predominantly used in education and healthcare, with the latter using substantial quantity of homogeneous sheet in clinical settings. As sheets satiate the performance requirements in healthcare applications, the growth of the healthcare market has buoyed sheets' demand. Luxury vinyl tiles (LVT) have made rapid penetration in all application sectors, with their use in healthcare undergoing substantial growth outside sterile settings. LVTs have increasingly replaced Vinyl Composite Tiles (VCTs) in back office applications, break rooms, corridors and cafeterias.
- Linoleum has gained prominence owing to its inherent biodegradable and anti-bacterial characteristics. Hospitals, day-care centers and retail store constitute the key demand sectors for linoleum flooring.
- Resilient tiles are predominantly used in high-traffic and price conscious commercial applications. In residential applications, resilient flooring is primarily installed in kitchens and bathroom owing to its water-resistant capability. Educational institutes and retail comprise the foremost commercial application sectors, whereas the use of resilient flooring in healthcare applications is expected to witness substantial growth.
- North America and Europe captured a significant share of the resilient flooring market in 2013 which can be attributed to growing demand from retail and healthcare sectors and increased emphasis on eco-friendly flooring products. Asia Pacific, which is a predominantly ceramic flooring oriented region, is also expected to adopt resilient flooring in several applications.
- Key resilient flooring market players such as Nora, Forbo, and Armstrong, have evolved by constant innovation to maintain competitiveness. Manufacturers have developed display and distribution systems to assist consumers in choosing the appropriate flooring to suit their needs.
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For the purpose of this study, Grand View Research has segmented the global resilient flooring market on the basis of product, application, and region:
Resilient Flooring Product Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
- Luxury Vinyl Tiles (LVT)
- Vinyl Composite Tiles (VCT)
- Vinyl sheets
- Fiberglass sheets
Resilient Flooring Application Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
- Leisure & Hospitality
- Commercial Offices
- Public Buildings
Resilient Flooring Regional Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Browse to access more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
This market research report can also be accessed @ https://www.linkedin.com/pulse/resilient-flooring-market-reach-7704-billion-2020-sherry-james
Corporate Sales Specialist, USA
Grand View Research, Inc
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Source:Grand View Research