Solid Growth Forecast For Global Flooring Market

The global flooring market was valued at US$333.6 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.4 per cent during the forecast period from 2022 to 2031, says a market research report by TMR. The rise in popularity of flooring is due to the growth of the construction industry and the increase in infrastructure development and redevelopment projects. The industry is driven by an increase in emphasis on the aesthetic appeal of houses and, at the same time, more products and eco-friendly flooring solutions are becoming more popular. Based on product type, the ceramic tiles segment is projected to account for a significant share of the global flooring market during the forecast period. The residential segment is expected to maintain its leadership status from 2022 to 2031.