Fiberglass Flooring Market Size, Share, Top Key Players, Growth, Trend and Forecast Till 2027

 

Fiberglass Flooring Market Projected to Reach USD 1.17 Billion by 2027

A rise in construction activities worldwide and augmented investments in infrastructural development are the primary factors fueling the market growth.

Market Size – USD 698.9 million in 2019, Market Growth - CAGR of 7.1%, Market Trends – Rising focus on urbanization, especially in developing nations

The global fiberglass flooring market is expected to be valued at USD 1.17 Billion in 2027 from USD 698.9 Million in 2019, registering a CAGR of 7.1% through the forecast period. Fiberglass is a fiber-reinforced plastic material made with glass fiber combined with glass fiber, which is usually woven into a fabric or flattened into a sheet. Fiberglass flooring has gained rapid traction worldwide due to fiberglass’s superior properties, such as non-conductive and waterproof nature, comfortable cushioning, electromagnetic radiation, high durability, cost-effectiveness, and environmental sustainability. Fiberglass is highly customizable and is often widely used as an assistance material in a wide range of flooring products. As a lightweight material, fiberglass is used in vinyl flooring products, such as luxury vinyl tiles and vinyl sheets. Hence, this type of flooring is easy to install and is most suitable for residential and commercial construction applications. Besides, it has a high aesthetic value and requires low maintenance.

Revenue from the global fiberglass flooring market is predicted to register a considerably high growth rate over the forecast timeframe. Various crucial factors, such as rapid industrialization, fast-paced urbanization (especially in the emerging economies), a boom in construction activities worldwide, and the rising government focus on public infrastructural development. The rising demand for luxury vinyl tiles and sheets for the flooring of elite commercial buildings, such as corporate structures, is a significant factor propelling the market growth. Moreover, technological enhancements in floor coverings and the growing use of fiberglass flooring as a brilliant alternative to wooden flooring are the other crucial factors bolstering the market growth. Furthermore, the rising demand for aesthetic home interior designs, augmenting purchasing power of consumers, and the surging usage in commercial buildings, such as educational institutes, hotels & restaurants, shopping malls, and hospitals, further fuel the global market growth. However, the volatility of flooring materials’ prices is a critical factor expected to impede the global fiberglass flooring market growth in the near future.

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Key findings of the report:

·       In terms of application, the residential sub-segment is expected to register the fastest 7.2% CAGR over the projected timeline. The growth of this segment is attributed to a significant rise in residential construction activities, rapid urbanization in the emerging economies, rising trends of home makeover and remodeling, and the increased purchasing power of people, mostly in developed countries.

·       Among the key regional markets, the Asia Pacific fiberglass flooring market is estimated to occupy the highest market share over the projected years, exhibiting a robust CAGR of 7.6%. A significant boom in construction activities, mainly in the developing countries such as India and China, rising government investments in infrastructural development, escalating demand for technologically advanced floor coverings, and the surging demand for lightweight, durable flooring products are the pivotal factors propelling the market growth in the Asia Pacific. Moreover, the region’s expanding population and the growing income levels of individuals are the other key parameters bolstering the regional market growth.

·       Key market players include Mannington Mills Inc., The Armstrong Flooring Inc., Milliken, NOX Corporation, Shaw Industries Inc., Mohawk Industries Tarkett, TOLI Floor Corporation, Gerflor, and Interface Inc.

·       In December 2020, TAJ Flooring, a renowned manufacturer of commercial flooring products, introduced its new fiberglass collection flooring line, called Wavelength Modular Acoustic Flooring, focused on noise abatement in residential and commercial interiors. The new floor designs are highly functional and are made of softened wood-look planks with smoother graining and textured patterns.

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For the purpose of this report, the global fiberglass flooring market has been segmented based on product type, application, distribution channel, and region:

Product Type Outlook (Revenue, USD Billion; 2017-2027)

• Luxury Vinyl Tiles
• Vinyl Composite Tiles
• Vinyl Sheets

Application Outlook (Revenue, USD Billion; 2017-2027)

• Industrial
• Residential
• Commercial

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

• Retail
• Wholesale
• Distributor Business Trends

Regional Outlook (Revenue, USD Billion; 2017-2027)

§  North America

•                  U.S.

•                  Canada

§  Europe

•                  Germany

•                  U.K.

•                  France

•                  BENELUX

•                  Rest of Europe

§  Asia Pacific

•                  China

•                  Japan

•                  South Korea

•                  Rest of the Asia Pacific

§  Latin America

•                  Brazil

•                  Rest of Latin America

§  Middle East & Africa

•                  Saudi Arabia

•                  UAE

•                  Rest of the Middle East & Africa

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