Soft Covering Flooring Industry Insights Market Status and Specification Forecast To 2020
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<strong>Soft</strong> <strong>Covering</strong> <strong>Flooring</strong> <strong>Industry</strong> <strong>Insights</strong> | <strong>Market</strong> <strong>Status</strong> <strong>and</strong><br />
<strong>Specification</strong> | <strong>Forecast</strong> <strong>To</strong> <strong>2020</strong><br />
“Global <strong>Soft</strong> <strong>Covering</strong> <strong>Flooring</strong> <strong>Market</strong> report includes in-depth analysis of<br />
industry by recent technologies, trends, opportunities, challenges, key players<br />
<strong>and</strong> business strategies considering types, segment <strong>and</strong> future outlook.”<br />
The global <strong>Soft</strong> <strong>Covering</strong> <strong>Flooring</strong> <strong>Market</strong> size was valued at USD 110.09 billion in 2013 <strong>and</strong> is<br />
anticipated to exceed USD 152.5 billion by <strong>2020</strong>, with a CAGR of about 5.2%. Better choices<br />
available for residential floor replacements <strong>and</strong> increasing home improvement needs are<br />
anticipated to fuel market growth over the forecast period. <strong>Soft</strong> covering floors provide<br />
distinctive benefits such as noise-reduction, dust-binding characteristics, comfort <strong>and</strong> insulation<br />
together with attractive aesthetics. Besides, enhancing the visual appeal in offices <strong>and</strong> at homes<br />
<strong>and</strong> covering floors, carpets tiles <strong>and</strong> rugs offer a protecting layer to floors. In cold countries,<br />
these products are used widely to prevent the floor from getting too cold.<br />
U.S <strong>and</strong> other developed countries witness a huge dem<strong>and</strong> for rugs <strong>and</strong> carpets. However, with<br />
rising number of consumers willing to spend on floor coverings to improve the aesthetic appeal<br />
at home <strong>and</strong> in offices, the dem<strong>and</strong> for rugs <strong>and</strong> carpet tiles is anticipated to diminish <strong>Soft</strong><br />
covering floors consist of rugs & carpets <strong>and</strong> broadloom which provide good insulation <strong>and</strong> have<br />
an appeal of a luxurious exterior. Nevertheless, resilient floors including vinyl tiles are gaining<br />
momentum in present times in residential as well as commercial applications. This may impede<br />
market growth <strong>and</strong> deter market dem<strong>and</strong>.<br />
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Growth opportunities for new entrants in the soft covering flooring market majorly can be<br />
anticipated in the manufacturing technology <strong>and</strong> research & development domains. In addition,<br />
growing awareness regarding the advantages of spending on eco-friendly materials in floor<br />
covering manufacturing can be beneficial by utilizing easy availability of key suppliers in the<br />
industry. Major sales <strong>and</strong> distribution channels include online shopping, furniture stores,<br />
departmental stores <strong>and</strong> catalogs that maintain rug <strong>and</strong> carpets. Additionally, bi box discount<br />
stores <strong>and</strong> home centers are important channels for a wide range of products from mid-priced<br />
to promotional rugs.<br />
One of the key issues in present times is the waste disposal problem. Although the industry is<br />
growing at a steady rate, huge amount of waste id created due to used rugs, broadlooms <strong>and</strong><br />
rugs. Improper <strong>and</strong> lacking waste-disposal solutions are anticipated to draw the attention of<br />
regulatory bodies <strong>and</strong> environmentalists.<br />
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Application <strong>Insights</strong><br />
The replacement <strong>and</strong> residential new construction segment contributed to nearly 70% of the<br />
total revenue in 2013. Robust construction activity in developing countries has been on a rise in<br />
the past few years <strong>and</strong> this has propelled dem<strong>and</strong> for construction materials including wall<br />
coverings <strong>and</strong> flooring. Dem<strong>and</strong> for non-residential segment is expected to be impacted by<br />
commercial, institutional, <strong>and</strong> office, construction. Growing interest of consumers <strong>and</strong> shifting<br />
preference towards rugs <strong>and</strong> carpets for home décor to maintain better homes coupled with<br />
increasing investments in commercial real estate has boosted market dem<strong>and</strong> for flooring<br />
solutions. Services in hospitality <strong>and</strong> exp<strong>and</strong>ing tourism market are expected to drive the soft<br />
covering flooring industry over the forecast period.<br />
Product <strong>Insights</strong><br />
<strong>Soft</strong> covering flooring comprises of broadloom, area rugs <strong>and</strong> carpet tile. While carpet tiles are<br />
installed across the complete room or places such as lobbies <strong>and</strong> stairs, area rugs conceal only<br />
a part of a room. On the other h<strong>and</strong>; broadlooms are carpet woven on a wide loom. It can be<br />
used efficiently in commercial <strong>and</strong> domestic applications.
Carpet tiles segment emerged as the dominant player in the industry dem<strong>and</strong> in 2013,<br />
accounting for over 70% of the total shipments. Increasing popularity of carpets available in a<br />
wide-range of fiber systems provide consumers with an enhanced luxurious experience in<br />
addition to offering retailers to step up customers at a higher price point in order to achieve<br />
bigger margins. Popular variants of floorings such as polyester carpets <strong>and</strong> soft h<strong>and</strong>ed carpets<br />
benefit manufacturers in that they gain better market share.<br />
Regional <strong>Insights</strong><br />
North America soft covering flooring market emerged as the market leader in 2013, in terms of<br />
revenue <strong>and</strong> accounted for 35% of the market, followed by Asia Pacific. Manufacturers have<br />
been continuously focusing on the development of sustainable <strong>and</strong> environment friendly<br />
carpets in the region thereby resulting in market growth owing to dem<strong>and</strong> for such flooring<br />
solutions, particularly in Europe <strong>and</strong> the U.S.<br />
Emerging economies such as China <strong>and</strong> India are anticipated to grow at a rapid pace over the<br />
next six years. This growth can be ascribed to the increased expenditure in home improvement<br />
<strong>and</strong> renovation in the region coupled with capital investments which have favorably influenced<br />
regional market growth.<br />
Competitive <strong>Insights</strong><br />
Key market players in the soft covering flooring industry include AstroTurf LLC, Abbey Carpet<br />
Company Inc, Bentley Mills Inc, Beaulieu Group LLC, Cargill Inc, Engineered Floors LLC, Dixie<br />
Group Inc, Mannington Mills Inc, Mohawk Industries Inc, Milliken & Company, Trinseo SA <strong>and</strong><br />
Royalty Carpet Mills Inc.<br />
In order to exp<strong>and</strong> globally <strong>and</strong> enter new markets, companies are increasingly concentrating<br />
on mergers <strong>and</strong> acquisitions. As an instance: The Tarkett acquired Desso; Floors N More LLC<br />
acquiring ALJ Regional Holdings; <strong>and</strong> the purchase of Atlas Carpet MillsbyDixie Group.<br />
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