The increasing consumer demand for flooring is expected to facilitate the growth of the market, states Fortune Business Insights in a report, titled “Fiberglass Flooring Market Size, Share & Industry Analysis by Product (Luxury Vinyl Tiles, Vinyl Composite Tiles, Vinyl Sheet), By Application (Residential, Commercial, Industrial) and Regional Forecast, 2022-2030.” The growing disposable income is expected to enable speedy expansion of the market.
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The report on the fiberglass flooring market incorporates:
- All-embracing scrutiny of the market
- Important data about prominent players
- Dominant regions in the market
- Key drivers and restraints
- Recent developments
Market Driver:
Rising Focus on Environmental Sustainability to Boost Growth
The growing consumer inclination towards cost-effective and eco-friendly flooring materials is expected to bolster the growth of the market. The surging disposable income is expected to contribute positively to the growth of the market during the forecast period. The burgeoning construction industry is expected to create lucrative business opportunities for the global market. The growing inclination towards waterproof flooring with realistic designs and textures is expected to further enable speedy expansion of the market. Moreover, the superior qualities offered by fiberglass is expected to further incite the development of the market in the forthcoming years. For instance, fiberglass features qualities like non-magnetic, non-conductive nature, transparency towards electromagnetic radiations, and versatile applications as compared to metals. These factors together are expected to promote the healthy growth of the market.
Nevertheless, fluctuating prices of raw materials such as silica sand limestones and soda ash are expected to hamper the growth of the market.
Regional Analysis:
Profound Infrastructure Development to Foster Healthy Growth in Asia Pacific
The market in Asia Pacific is expected to rise tremendously during the forecast period owing to the growing construction of residential and commercial buildings in the region. The Development of industrial parks, malls, hotels, theme parks, hospitals, government & residential sectors will elevate the market in the region. Latin America is expected to account for a significant share during the forecast period owing to the Bogota Urban Renewal Scheme. The scheme involves the expansion of Industrial, commercial, and technical centers. The market in North America is expected to grow rapidly owing to the increasing industrialization in countries like UK, Germany, and France. The Middle East & Africa is expected to experience a steady growth rate owing to the increasing infrastructure development in the region.
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The Report Lists the Prominent Players in the Fiberglass Flooring Market:
- IVC Group (Mohawk Industries)
- Shaw Floors
- Mannington Mills
- NOX Corporation
- Armstrong World Industries
- Milliken
- Gerflor
- Tarkett
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