The non-resilient floor covering market in Europe is growing in slow yet recording constant growth numbers. One of the important factors that affected the floor covering market a decade ago was its parent market, the construction industry. The construction industry is a very crucial segment of the European Union economy contributing to about 9% of the region's GDP. The sector provides more than 18 million direct jobs and along with the creation of several indirect jobs. Due to the 2009 financial crisis, the construction industry was severely affected and resulted in a shrink in the growth rate for 5 consecutive years. But from the 2014 construction industry and all its dependent sectors have started to record growth numbers. The increasing disposal incomes have enabled the customers to spend on their choices of floor covering driving the growth of luxury segments of the floor covering market. Italy being one of the top exporting countries of Ceramic tiles in the region has gained more customer base across the world with its high-quality ceramic tiles that are highly resistant to temperature changes along with scratch and stain resistance. They also offer aesthetically appealing designs that gained more customer interest in middle eastern countries like Saudi Arabia, the United Arab Emirates.
Key Market Trends
Ceramic Tiles Occupy A Major Share of the Market
Germany, the United Kingdom, Italy, and France constitutes the largest market share for the non-resilient floor covering market in the European Union. Italy is one of the largest exporters of ceramic tiles in the region. France, United States, Austria, Belgium, Germany, are the leading destinations for ceramic tiles that are manufactured in Italy. The improving economic conditions, growing construction projects are the key factors that are helping the growth of the non-resilient market in the European Union. The high quality of Italy ceramic tiles is also helping the region to grab a major share of the ceramic tiles market worldwide.
Growing Residential Construction Industry Across Europe is Driving the Market
The construction industry which is one of the largest contributors to Europe's GDP was hit by the 2009 financial crisis and resulted in growth shrinking. But from 2014 the industry started recovering at a noticeable pace and started to grow. The region recorded a 2.9% growth rate in 2014 and from then onwards the construction industry has been strengthening and is growing in a slow yet constant manner. As the floor covering market is largely dependent on the construction industry, with the growth rates that the construction industry is recording, the floor covering market is anticipated to record a constant growth rate during the forecast period.
The report covers major players operating in Europe non-resilient floor covering market along with their product portfolio, key financials, and developments. The market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity which will help them to increase exports.
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