Market Size of Soft Covering Flooring Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Soft Covering Flooring Market Analysis
The Global Soft Covering Flooring Market is valued at USD 97.2 billion currently and is expected to register a CAGR of 3.2% during the forecasted period.
During the pandemic, many construction projects were delayed or canceled, which had a significant impact on the demand for soft-covering flooring. Additionally, the closure of retail stores and decreased foot traffic in commercial buildings resulted in a decline in demand for soft-covering flooring in these sectors. However, the market has shown signs of recovery as lockdown measures have been lifted in several regions and construction activities have resumed. The demand for soft covering flooring has also increased due to the rising focus on creating comfortable and healthy living spaces, especially as people spend more time at home. Additionally, the growing trend towards sustainable and eco-friendly products is expected to drive the demand for soft-covering flooring in the post-pandemic era.
Investment in R&D works by major players for product innovation, design, and service is expected to positively impact the market's growth. Technological innovations aimed at providing a variety of dying technologies to create different patterns, solid colors, and design continuity are projected to contribute to product demand. The soft covering flooring market is highly competitive, with major manufacturers focusing on innovative styles, product differentiation, designs, and effective services to gain a greater market share. Changes in the prices of raw materials due to varying market conditions have a significant impact on the final price of the products. The shift toward hard floor coverings, such as wood and ceramics, along with high sensitivity to economic fluctuations, is likely to hinder the growth prospects of the market.
Soft Covering Flooring Industry Segmentation
Soft covering flooring refers to floor coverings made from soft materials such as carpets, rugs, and vinyl tiles. These types of flooring are commonly used in residential, commercial, and industrial buildings due to their comfort, noise reduction, and aesthetic appeal. A complete background analysis of the soft covering flooring market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report. The report also features a qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry value chain.
The Market is Segmented By Product (Broadloom and Carpet Tile), By Distribution Channel (Contractors, Specialty Stores, Home Centers, and Other Distribution Channels), By End-User (Residential and Commercial), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report offers Market size and forecasts for the Global Soft Covering Flooring Market in value (USD) for all the above segments.
| By Product | |
| Broadloom | |
| Carpet Tile |
| By Distribution Channel | |
| Contractors | |
| Specialty Stores | |
| Home Centers | |
| Other Distribution Channels |
| By End-User | |
| Residential | |
| Commercial |
| Geography | ||||||
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Soft Covering Flooring Market Size Summary
The global soft covering flooring market is experiencing a resurgence following the challenges posed by the pandemic, which had previously led to delays and cancellations in construction projects, as well as reduced demand in retail and commercial sectors. As lockdowns have eased and construction activities have resumed, the market has begun to recover, driven by an increased focus on creating comfortable and healthy living spaces. The trend towards sustainable and eco-friendly products is also contributing to the growing demand for soft covering flooring. Major players in the industry are investing in research and development to innovate in product design and technology, aiming to offer a variety of patterns and colors. However, the market faces challenges from the shift towards hard floor coverings and economic fluctuations, which can impact raw material prices and, consequently, product pricing.
In the residential sector, soft covering flooring, including carpets and vinyl flooring, remains popular due to its comfort, warmth, and noise-reducing properties. Technological advancements have led to the development of durable and easy-to-clean options, making them suitable for high-traffic areas. The demand for soft covering flooring is expected to grow as consumers seek stylish and durable flooring solutions. North America holds a significant share of the market, driven by urbanization and the construction of green buildings. The market is fragmented, with major players like Abbey Carpet & Floor Inc., Milliken & Company, Shaw Industries Group Inc., Interface Inc., and Mohawk Industries Inc. dominating. However, mid-size and small companies are expanding their presence through technological advancements and new market opportunities.
Soft Covering Flooring Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value / Supply Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Buyers
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1.5.2 Bargaining Power of Suppliers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitutes
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights on Technology Innovations in the Market
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Broadloom
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2.1.2 Carpet Tile
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2.2 By Distribution Channel
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2.2.1 Contractors
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2.2.2 Specialty Stores
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2.2.3 Home Centers
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2.2.4 Other Distribution Channels
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2.3 By End-User
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2.3.1 Residential
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2.3.2 Commercial
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 France
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2.4.2.3 United Kingdom
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2.4.2.4 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East & Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 South Africa
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2.4.5.4 Rest of Middle East & Africa
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Soft Covering Flooring Market Size FAQs
What is the current Global Soft Covering Flooring Market size?
The Global Soft Covering Flooring Market is projected to register a CAGR of 3.20% during the forecast period (2024-2029)
Who are the key players in Global Soft Covering Flooring Market?
Abbey Carpet & Floor Inc., Milliken & Company, Shaw Industries Group Inc., Interface Inc. and Mohawk Industries Inc. are the major companies operating in the Global Soft Covering Flooring Market.
