Posted by: Tamer Atya | December 30, 2008

Flooring and Carpets Demand in the World Will Reach 15.2 Billion Square Meters

World demand for flooring and carpets is projected to climb 4.0 percent annually through 2012 to 15.2 billion square meters, valued at $178 billion.  Product demand will be stimulated by continued growth in nonresidential building construction as industrialization efforts continue in less developed parts of the world.  China will record the largest gains of any country and will expand its lead as the biggest floor covering market in the world.  China will account for 43 percent of the difference in worldwide flooring demand between 2007 and 2012, and one-half of the increase in flooring shipments.  Sales growth is also expected to be strong in India, as well as in lower-volume markets in the developing world.  These and other trends, including market share and product segmentation, are presented in World Flooring & Carpets, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

 

Flooring and carpet demand in developed parts of the world will rise as well, although the pace of increase will be less robust than in developing countries.  Demand in both Western Europe and Japan will decelerate slightly from their already moderate paces of the 2002-2007 period.  In the US, flooring and carpet sales will be spurred by an expected rebound in residential construction from the 2007 level, along with increases in nonresidential construction spending and motor vehicle production.

 

Nonresilient flooring (e.g., ceramic, wood, laminate) is by far the most popular type of floor covering worldwide, and demand will outpace that for both resilient flooring (which includes vinyl, linoleum and rubber products) and carpet and rugs through 2012.  Nonresilient flooring demand will be driven by the products’ durability and ease of maintenance, and supported by growing consumer preference for high-end and natural hard surface flooring products as income levels climb.  Suppliers of carpets and rugs, the second most widely used type of floor covering, will benefit from growth in building construction expenditures in Western Europe, rising construction activity in other parts of the world and, to a lesser extent, growth in global motor vehicle production.  Demand for resilient flooring, which accounts for the remainder of floor covering sales, will be stimulated by its comparatively low cost, as well as by favorable performance characteristics like high underfoot comfort, noise absorption, durability and wear resistance.

 

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.

Source: transworldnews.com

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