Global Fiberglass Flooring Market Driven by its High Demand due to Consumer Preference

According to the analysis by Market Research Future (MRFR), the global fiberglass flooring market is slated to register a significant market valuation at a substantial CAGR over the review period.

Drivers and Restraints

The fiberglass flooring market is primarily driven by the increasing consumer demand for flooring and the growing purchasing power of people. Its cost-efficiency and environmental sustainability are likely to attract consumers, consequently increasing consumer demand. Fiberglass flooring, being adaptable is preferred even in non-residential purposes, owing primarily to its secure fixing and easy maintenance features. Fiberglass provides additional cushioning and enhances the feel of the floor. furthermore, this type of flooring is installed without glue and is resistant to upward twists. Properties such as ease of installation and exceptional aesthetic values are anticipated to drive the fiberglass flooring market towards growth over the review period.
Growing construction activities and economic advances such as the rising disposable income and augmented consumer preference for fiberglass flooring are some of the influential factors driving market growth. on the other hand, fluctuating raw material prices may act as a hindering factor for the fiberglass flooring market over the review period.

Segmental Analysis

The fiberglass flooring market has been segmented on the basis of application, into commercial, industrial, and residential. The residential segment is expected to register the largest market share over the review period, owing to the increasing consumer preference, higher demand, and lucrative market scope across the globe. The consumer demand from the residential sector is the highest, owing to the superior features of fiberglass flooring, such as easy maintenance, aesthetic value, among others, which are also driving its adoption in the commercial sector. The industrial sector is also expected to record a notable growth rate over the forecast period.

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Regional Analysis

On the basis of region, the global fiberglass flooring market is segmented into Europe, the Asia Pacific, North America, and the rest of the world (row).

The North American market for fiberglass flooring is the most lucrative regional market across the globe and is anticipated to record a substantial market valuation over the review period. This is attributed to the higher per capita disposable income of consumers, awareness regarding the product and features, changing consumer preferences, among others. The increasing infrastructural development in residential, and commercial sectors is also leading to the growth of the market in the region.

The North American region is followed by Europe in terms of market value. Europe is also one of the major regional markets for fiberglass flooring and is poised to register substantial growth over the review period. This is attributed to the stable economic growth, which contributes towards the disposable income of consumers. The growth of the European market is driven by consumer preference for fiberglass flooring. These factors are expected to contribute substantially towards the growth of the European fiberglass flooring market over the assessment period.

The Asia Pacific offers a lucrative market for fiberglass flooring, owing to the increasing disposable income of consumers, driven by the changing economic dynamics in developing countries such as India, China, South Korea, Japan, and others. The increasing affordability and consumer demand for aesthetic products are driving the growth of the Asia Pacific fiberglass flooring market over the forecast period.

Key Market Players

The leading market player identified by MRFR in the market of global fiberglass flooring are NOX Corporation (South Korea), Mohawk Industries (U.S.) , Armstrong Flooring, Inc.(U.S.), Gerflor Group (France), Mannington Mills, Inc. (U.S.), Tarkett(France), Shaw Industries Group, Inc.(U.S.), TOLI Floor Corporation (Japan ), Milliken & Company (U.S.), Interface (U.S.), and Polyflor Ltd (U.K).   

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.

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