Technavio Identifies Top Three Emerging Trends for the Global Flooring Market Through 2020
Technavio’s latest global
flooring market report highlights the top three emerging trends
that are expected to impact the market’s growth through 2020. Technavio
defines an emerging trend as something that has potential for
significant impact on the market and contributes to its growth or
decline.
“Flooring is a crucial element of interiors, and we are seeing
investments flow into this market in terms of new customized design,
color, texture, and size. Flooring manufacturers are developing new
technologies and flooring options to maintain their market share in this
highly competitive market. For instance, to reduce the carbon footprint
during the manufacturing process, vendors are deploying new techniques
that aid the replacement of fuel oil with liquefied petroleum gas or
natural gas, and augment the use of recycled waste,” says Technavio’s
lead construction
research market analyst Soumya Mutsuddi.
“Therefore, manufacturers are setting new benchmarks for small vendors
in terms of efficiency, quality, and design. In terms of marketing,
large vendors are focusing on creating a brand identity and flooring
products that are affordable to all classes,” adds Soumya.
Some top vendors covered in this report:
-
Armstrong Flooring
-
Gerflor
-
Mannington Mills
-
Mohawk
-
Tarkett
The following top three emerging trends impacting market shares of these
vendors according to Technavio’s analyst are-
Increasing demand for recycled flooring materials
The manufacture of lumber and wood flooring from fresh raw materials
takes nearly 10 times more energy compared with salvaged materials.
Earlier, scrap generated from the demolition of structures was
considered to be junk. However, in the present scenario, architects,
interior decorators, and construction companies are not only finding it
economical, but also environmentally friendly to use. For instance,
demolished exterior wood shingles can be used for the purpose of
flooring, and maple floorings can be used for the construction of
shelves. Use of recycled materials will therefore result in a positive
impact on the environment during the forecast period, notes Soumya.
Flooring options with different material mixes
There has been an increase in the choice of floorings available in the
market in terms of color and texture over the last decade. However, over
the last few years, there has also been an increase in the type of
floorings sold in the market. A tile infused with glass adds a glossy
finish and is normally used for walls as they are not suitable for high
wear and tear. These same tiles can also be used on the floor in which
case they would be used for decorative purposes subject to minimal wear
and tear. Similarly, a tile infused with metal makes it more robust
thereby making it suitable for extreme conditions. An example of such
use would be tiles used in cafeterias where the tiles are subject to
high wear and tear on a regular basis. Another example is a mixture of
wood with stones that is predicted to find growing application in
cladding and other interior decoration purposes over the next four
years, reports Technavio’s analysis.
Increased investment in high-rise buildings
The rise in standards of living, especially in emerging markets, is
propelling the demand for high-rise buildings. This increase in
high-rise building construction is in turn driving the demand for
flooring materials in these markets. As of 2015, Asia accounted for
around 74% globally whereas the Americas and EMEA accounted for close to
13% and 12%, respectively. Such large-scale building construction
activity is expected to spur the demand for flooring as anticipated by
this report.
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About Technavio
Technavio is a leading global technology research and advisory company.
The company develops over 2000 pieces of research every year, covering
more than 500 technologies across 80 countries. Technavio has about
300 analysts globally who specialize in customized consulting and
business research assignments across the latest leading edge
technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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