Market Trends of United Arab Emirates Floor Covering Industry
This section covers the major market trends shaping the UAE Floor Covering Market according to our research experts:
Growing Construction across the Region is Driving the Market
The commercial construction activities across the United Arab Emirates were on the rise during the study period, owing to the Expo 2020, which was primarily scheduled in 2020. However, it was postponed to 2021 due to the ongoing COVID-19 pandemic. The UAE government amended the property ownership policies and permitted non-UAE and non-GCC residents to have freeholds and leaseholds on properties in certain parts of the region, to encourage more investments in the industry. Affordable housing is also another key driver for the UAE construction industry and helped the country to face the challenges in housing to accommodate its growing population. The government is also developing several plans to develop residential complexes, healthcare centers, schools, etc. in the Eastern region. These initiatives are driving the floor covering the market in the region.
Commercial Floor Covering accounted for a Major Market Share
With the increasing commercial property construction across the United Arab Emirates, the commercial segment of the floor covering market registered high market value than the residential segment. The rising tourism sector increased the demand for hotel construction projects of either new construction or renovation, to make them appealing, primarily to attract more customers. The growth is also driven by the construction of several entertainment destinations, shopping malls, family entertainment centers, etc., thus driving the demand for various tiles, carpets, laminated floors, and wood floor coverings.
