(I-BusinessNews.Com, April 09, 2021 ) Non-Resilient Flooring Market size is forecast to reach $230 billion by 2026, after growing at a CAGR of 4.1% during 2021-2026. Non-resilient flooring is a hard surface flooring such as ceramic tiles, porcelain tile natural stone, marble and others. They are much easier and cheaper to maintain as these floors are glued down to the concrete, thus it is preferred over others, which led to the increase in demand for non-resilient flooring. However, with the rising investment and projects especially towards housing, in the building and construction, the non-resilient flooring industry is witnessing an increase in demand. Growing public interest and government initiatives towards buying new houses will further enhance the overall market demand for non-resilient flooring during the forecast period.
COVID-19 Impact
The worldwide crisis of COVID-19 has declined the construction industry as many of the ongoing infrastructure projects are either postponed or cancelled which has led to millions and billions of losses. According to the American Road & Transportation Builders Association (ARTBA) infrastructure projects totalling more than $9.6 billion have been either delayed or cancelled in the midst of the COVID-19 pandemic. So, owing to this the non-resilient flooring market has declined.
Non-Resilient Flooring Market Segment Analysis – By Type
Concrete segment holds the largest share in the non-resilient flooring market in the year 2020 is expected to grow at a CAGR of 4.5% during the forecast period. One of the major advantages to have a concrete floor are, they are completely customizable and color choices, textures, patterns and finish options combine for limitless design possibilities. In addition, concrete floors are extremely durable, long-lasting and easy to maintain. Therefore, due to the wide variety of choices it gives, the concrete flooring demand is expected to grow and owing to this, the non-resilient market will also rise.
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Non-Resilient Flooring Market Segment Analysis – By End-Use Industry
Residential sector has been the primary market for non-resilient flooring in the year 2020 and is expected to grow at a CAGR of 4.7% during the forecast period. Because of the low-cost setup and low maintenance, concrete floors were generally used in houses. They can assist in determining the age of a structure. Porcelain tiles is an ideal choice for residential areas of high traffic and will perform better in comparison with other tiles in both long-term, appearance and durability. However increasingly, companies are interested in socially responsible investments, few of those examples are In November 2019, “Apple” had announced that they will contribute USD $2.5 billion to try and alleviate California’s housing crisis. Similarly, in the same year (2019), “Google” had also decided to invest USD $1 billion for easy bay area housing. So, this public-private investment or donations for constructing houses will eventually drive the market growth for non-resilient flooring.
Non-Resilient Flooring Market Segment Analysis – By Geography
APAC has dominated the non-resilient flooring market in the year 2020 and is expected to grow at a CAGR of 4.1% during the forecast period. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. However, various construction projects such as, in 2019, China approved 26 infrastructure projects with a total expected investment of USD $142 billion (981.7 billion yuan) and others are expected to drive the market for non-resilient flooring.
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Non-Resilient Flooring Market Drivers
Growing Demand for Green Building
Growing governments initiatives towards green building will increase the demand for flooring and this will eventually led to the increase in market growth of non-resilient flooring. In addition, in September 2020, the U.K government had launched a scheme called “The Green Homes Grant”. This scheme is set to help homeowners by funding them the cost of green home improvements and to improve their energy efficiency. The UK government will be providing two-thirds funding up to $6500 (£5,000 or £10,000) (for low-income homes) to help homeowners make green home improvements. So, initiatives like these will boost the demand for non-resilient flooring during homemaking.
Governments Initiatives Regarding Construction/ Infrastructure
In order to develop nations, governments globally are focusing on boosting their infrastructure. For an example, in India, according to the Department for Promotion of Industry and Internal Trade (DPIIT), construction development and infrastructure activities sectors received FDI inflow amounting to US$ 25.69 billion and US$ 16.97 billion, respectively, between April 2000-June 2020. These investments had helped the construction industry to develop in the past and would be helping in the upcoming years. Hence with the rising construction industry, the non-resilient flooring market is expected to grow.
Non-Resilient Flooring Market Challenges
Resilient Flooring Pricing are Cheaper than Non-Resilient Flooring
Resilient floors include vinyl tile, asphalt tile, rubber, linoleum, poured synthetic resin and others. As compared to non-resilient flooring, these (resilient flooring) are a lot cheaper and comparably more durable. Whereas the pricing of tile, stone, slate, brick and hardwood varies constantly. So, due to the low pricing of resilient floor, they were preferred over non-resilient types in residential and independent homes. This is constraining the market growth for non-resilient flooring.
Non-Resilient Flooring Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Non-resilient flooring market. Major players in the Non-resilient flooring Market are Shaw Industries Group, Dal-Tile, Mohawk Industries, Mannington Mills, Kajaria Ceramics, China Ceramics, RAK Ceramics, Crossville, Ceramica Saloni, and Porcelanosa Group., among others.
Acquisitions/Technology Launches
In August 2019, Victoria Plc, a UK-based flooring production and distribution multinational with its core business in the carpet sector, has completed its acquisition of Ibero, a well-known Spanish tile manufacturer based in Castellón.
In August 2019, Kajaria Ceramics has merged with its own subsidiary kajaria tiles. This merger is expected to increase the overall growth of the organization.
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B. Flooring Market
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