Fiberglass Flooring Market Insight | Dynamics, Industry Analysis, Industry Verticles, Major Challenges, Opportunities And Forecast 2027
Drivers and Restraints
The fiberglass flooring market insight 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 Insight 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 insight 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 insight 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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