There are many reasons why people choose hard surface floors over other types of flooring. Hard surfaces offer a level of durability and are very aesthetically pleasing. Unfortunately, choosing this type of flooring can be confusing and costly. There are four main hard surface varieties namely vinyl plank, laminate, solid hardwood, and engineered wood. Each has their own style strengths and provide different advantages.
Increasing population coupled with rapid urbanization is expected to drive growth of the global hard surface flooring market. According to the United Nations (UN), by 2050, around 68% of the global population is expected to live in urban areas, increasing from 55% in 2018. According to the same source, in 2018, around 4.2 billion people were living in urban areas, increasing from 751 million in 1950. Furthermore, according to the World Bank, in 2019, the global population reached 7.674 billion, increasing from 6.84 billion in 2009. As a result of this, building construction activities have accelerated significantly across the globe. Hence, these factors are expected to drive growth of the global hard surface flooring market. Furthermore, growing number of renovation and remodeling activities is expected to propel the global hard surface flooring market growth in the near future.
Volatile raw material prices combined rise in health and environmental concerns are expected to hinder the global hard surface flooring market growth in the near future. However, rapid growth organized retail sector and rise in demand for hard surface flooring from emerging economies can present lucrative growth opportunities for major market players in the global hard surface flooring market in the near future. Among regions, North America is expected to witness significant growth in the global hard surface flooring market. This is owing to rapid developments in commercial as well as residential structures in the U.S. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to the renovation of existing infrastructure in emerging economies such as China and India.
Key players involved in the global hard surface flooring market are Mohawk Industries, TOLI Corporation, Armstrong World Industries, Inc., Berry Floor NV, Windmöller Flooring Products WFP GmbH, Mannington Mills Inc., Tarkett SAS, Shaw Industries Group, Surface America, Beaulieu International Group, Roppe Corporation, Marazzi Group S.r.l, and Burke Industries.
For instance, in November 2019, Mohawk Industries launched a newly imagined 30,000-square foot floor space at The International Surface Event (TISE).
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