Market Trends of United States Floor Covering Industry
This section covers the major market trends shaping the US Floor Covering Market according to our research experts:
Growing Urbanization is Driving the Market
The rise in urbanization has created a considerable increase in the rate of construction activities, consequently increasing the scope of the flooring market. The rapid infrastructural developments have increased the demand for flooring products remarkably, boosting the overall market. Rapid urbanization has generated a wave of renovation and remodeling activities, increasing demand in the flooring industry. Along with growing investments in the construction industry, the rise in infrastructure to keep up with lifestyle changes contributes to increased demands. Product innovation and customization are just a few parameters driving the market growth. Proliferating residential and commercial construction operations in the country, along with rising urbanization and industrialization, are the major drivers of the flooring market's growth. The country is also witnessing increasing demand for online shopping, which is expected to help the floor coverings market grow further.
Vinyl Flooring Segment is Growing Rapidly
Vinyl flooring is cost-effective in nature and exhibits various features, such as durability, flexible handling, and design possibilities, which make it suitable to be used in hospitals, schools, offices, and houses. The vinyl flooring market is driven by the accelerating urbanization and industrialization, rising disposable incomes, and the growing interest of consumers toward home décor. The industry is further accelerated by several advantages that vinyl flooring offers, such as cost-effectiveness, easy installation and maintenance, and moisture resistance. The future of the US vinyl flooring market looks promising, with opportunities in residential and non-residential applications. The major drivers for this market are growth in residential construction and renovation activities.
