Modular Flooring Market Growth Analysis With Investment Opportunities For 2024-2033

The Business Research Company's Modular Flooring Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The modular flooring market has experienced robust growth in recent years, expanding from $58.58 billion in 2023 to $62.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rise in commercial construction projects, focus on sustainability and eco-friendly materials, urbanization and interior design trends, ease of installation and maintenance, increase in renovation and remodeling activities.

Strong Future Growth Anticipated
The modular flooring market is projected to continue its strong growth, reaching $80.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to growing adoption of luxury vinyl tiles (LVT), expansion in healthcare and education sectors, focus on resilient and impact-resistant flooring, sustainable and recyclable materials, e-commerce growth in flooring sales.

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Growth Driver Of The Modular Flooring Market
Government investments in the construction industry are expected to propel the growth of the modular flooring market going forward. The construction industry encompasses tasks from planning, designing, and executing to maintaining buildings, infrastructure, and other structures. Investments in construction drive a greater need for modular flooring due to its versatility, easy installation, and sustainable characteristics.

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Major Players And Market Trends
Key players in the modular flooring market include Mohawk Industries Inc., Shaw Industries Inc., Tarkett S.A., Armstrong Hardwood Flooring LLC, Forbo Holding AG, Gerflor Group.
Product innovations have emerged as the key trend gaining popularity in the modular flooring market. Major companies operating in the modular flooring market are developing innovative products to strengthen their position in the market.

Segments:
1) By Product Type: Ceramic, Rubber, Carpet Tile, Rigid LVT, Polyolefin (Non-vinyl), Flexible LVT, Others Product Types
2) By Components: Polyvinyl Chloride Resins, Plasticizers, Trace Stabilizers, Pigments, Other Components
3) By End Users: Retail, Healthcare, Education, Household, Workplace, Other End Users

Geographical Insights: Asia Pacific Leading The Market
Asia Pacific was the largest region in the modular flooring market in 2023. The regions covered in the modular flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Modular Flooring Market Definition
Modular flooring refers to a covering that is laid over the floor tiles that provides surface finish and support. It is used in places like shopping centers, offices, warehouses, and hospitals.

Modular Flooring Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Modular Flooring Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on modular flooring market size, modular flooring market drivers and trends, modular flooring market major players, modular flooring competitors' revenues, modular flooring market positioning, and modular flooring market growth across geographies. The modular flooring market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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