San Francisco, California, Aug. 5, 2015 (GLOBE NEWSWIRE) -- The Global Non-Resilient Flooring Market is expected to reach USD 253.41 billion by 2020, according to a new study by Grand View Research, Inc. Advanced digital printing technologies for ceramic tiles have led to the development of innovative and versatile products along with improving installation techniques. This has significantly broadened the scope of their application across residential, commercial and industrial flooring market. Rising urbanization and the subsequent increased demand in new construction sector is expected to be the key driving force for the market over the forecast period.
Raw material costs have significantly impacted the non-resilient flooring industry. Ceramic tiles are manufactured out of raw materials that are readily available. However, fluctuations in the prices of raw materials along with decreased margins for manufacturers have led to an increase in ceramic products prices. Natural stones need to be mined, processed into small slabs that can then be used for flooring, thereby making them expensive. Technological advancements in mining and processing of natural and manufactured stone are expected to result in reduced prices over the next six years.
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Further key findings from the study suggest:
- The global demand for non-resilient flooring was estimated to be 89.48 billion square feet in 2013, ceramic flooring accounted for over 60% of this volume. This high demand can be attributed to increased usage in commercial applications such as malls and shopping centers as well as work and office spaces. Among stone flooring, marble and granite are expected to witness high growth. Manufactured stone, concrete tiles and engineered quartz products have significantly contributed to overall industry growth.
- Residential applications contributed to over 50% of the overall market revenue in 2013. Exponential increase in property resale has led to an increase in homeowner remodeling and home improvement projects and escalation in the prices of residential property across the globe. This has proved to be an incentive for non-movers to invest in their homes and upgrade to stone countertops and flooring. On account of high growth of the residential sector, stone and ceramic suppliers have targeted online retail channels and home centers.
- Developing markets from Asia Pacific have captured a sizable portion of the overall demand, both in terms of volume and revenue, which can be primarily attributed to rapid urbanization and increasing infrastructure facilities in the region. Increased demand from retail, healthcare and education sectors along with increasing demand from the commercial sector have driven the non-resilient flooring market in North America and Europe.
- Key non-resilient flooring market players such as Ceramica Saloni, China Ceramics, Dal Tile, Mannington Mills, Mohawk Industries, RAK Ceramics, Shaw Industries Group are continually reworking on their distribution channel and marketing strategies in a bid to maintain competitiveness. Manufacturers have laid a strong emphasis on designing display systems, showcasing ceramic tiles collections on their websites, and online catalog for the customers to find out products best suitable for their individual applications.
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For the purpose of this study, Grand View Research has segmented the global non-resilient flooring market on the basis of product, application, and region:
Non-Resilient Flooring Product Outlook (Volume, Billion Square Feet; Revenue, USD Billion, 2012 - 2020)
- Ceramic Tiles
Non-Resilient Flooring Application Outlook (Volume, Billion Square Feet; Revenue, USD Billion, 2012 - 2020)
Non-Resilient Flooring Regional Outlook (Volume, Billion Square Feet; Revenue, USD Billion, 2012 - 2020)
- North America
- Asia Pacific
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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.
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Source:Grand View Research