The resilient flooring segment is the second-largest segment next to carpet and rugs in the floor covering market sales. The innovative and coordinated system of vinyl, rubber cork, fiberglass, and linoleum all linked together to be a popular choice in residential and commercial applications to deliver better aesthetics and high-performance environments. The properties such as the available in different colors, shape, dimensions, patterns, scratch-resistant, odor-proof, and resistance to water make them more durable. Resilient floor coverings are made with substances that are easy to install and maintain. All these properties make resilient floor coverings a better choice for utilization. Improving technology, innovation in product design are further driving the market of resilient floor covering. The rapidly expanding construction industry and increasing government spending on infrastructure projects are anticipated to drive the market further. The commercial segment of the market especially the growing hospitality industry is grabbing a high share of the market and is anticipated to continue the same in the forecast period. The ongoing COVID-19 pandemic has been affecting the construction and manufacturing industry across Europe from the first quarter of 2020, and the government is focusing on improving ways to reduce the burden on the industry.
Key Market Trends
Vinyl Resilient Floor Covering Segment is Occupying a Major Share of the Market
The vinyl resilient flooring segment of the market is anticipated to grow in the forecast period. Vinyl tiles have been the leading resilient flooring segment and Its subsegment Luxury Vinyl Tiles (LVT) is grabbing more attention from the customers owing to their rising employment as aesthetic and durable materials. They also offer flexibility to use in various spaces whether in the residential segment or commercial. The ease of installation and the high aesthetic value are the other major factors that are contributing to the growing demand. Rubber, linoleum, fiberglass, and cork are comparatively niche segments and are forecasted to have a high development potential over the future period years due to the increasing requirement for eco-friendly flooring solutions.
Residential End-User Segment is Expected to Dоmіnаte the Market
The resilient floor covering market can be broadly categorized as the residential and commercial end-user. The residential segment is gaining more significance and is forecasted to grab a major market share during the forecast period. Owning to the high aesthetic pleasing appearances resilient flooring was widely used in the commercial segment in the initial years and slowly adapted to the residential application as well. Along with it resilient flooring also offers high resistance to scratch, water absorption. The urbanization and increasing population across Europe are also forecasted to increase the construction of new house buildings in the region.
The report covers major players operating in Europe 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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