Floor Covering Market Trends, Opportunities, Growth, Revenue, Industry Overview, Manufacturers, Regions, Application by 2020-2027

• Floor covering products are made with felts, textiles, rubber, resins, or other artificial or natural substances applied or fastened on the base level surface.
• Floor coverings are installed in rooms to provide durability, comfort, decoration, and safety.

Key Drivers of the Global Floor Covering Market

• Growth in the housing industry at the global level is a favorable factor driving the floor covering market, as a result of consumer demand for smooth surface flooring.
• Rugs and carpets are popular among consumers due to their aesthetic and functional properties which can cover the floor as well improve the overall home or office décor appeal. Rising consumer spending on home décor products to bring aesthetic improvements is also driving the market growth.
• Technological advancement in floor cover installation is driving the market growth. Key players are investing on advance equipment which helps companies to install the product on a shorter timeline.
• Enforcement of government regulations regarding disposal of waste and carbon emission have significant influence on the broadloom and carpet tile manufacturing industry. As a result, tile manufacturers are working on a product recycle process with more focus on a reverse distribution model to promote return of carpet tiles.

Growth in Residential and Commercial Construction Industry

• Rising residential and commercial construction in urban and rural areas is set to drive the sale of floor covering products. Construction industry is growing at a fast pace. In 2018, construction spending in New York City was over 70 billion. High spending on construction is likely to result in rising sale of flooring products.
• Average home décor product cost is increasing at a high pace which is driving consumers to purchase floor covering products which is comparatively budget friendly.

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High Cost of Production to Hamper the Market

• During the manufacturing of textile floor coverings (including carpets and rugs), non-degradable waste is manufactured, which is expected to become a challenge to the market growth.
• Production cost of textile floor covering is comparatively high which works as a market restraint.