Global Flooring Market Set for Robust Growth Amid Rising Construction and Renovation Activities

The global flooring market is projected to reach USD 290.72 billion in 2024, with expectations to grow to USD 398.27 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.4%. Increasing consumer demand for durable, visually appealing, and low-maintenance floor coverings is accelerating market growth across both residential and commercial sectors. Rapid urbanization, infrastructure development, and rising disposable incomes in emerging economies are contributing to this sustained momentum.

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Competitive Landscape

The flooring industry is highly fragmented, with major players competing through product innovation, brand visibility, and strategic expansion. Companies are focusing on:

  • E-commerce growth and digital engagement to enhance consumer access and education

  • R&D investments for sustainable materials and low-maintenance finishes

  • Strategic M&A activity, such as Mohawk Industries’ multiple acquisitions to expand global presence

Notable Developments:

  • Shaw Industries (March 2023): Partnered with Encina to recycle over USD 2.5 million worth of carpet waste annually, supporting its carbon reduction targets.

  • Interface, Inc. (January 2023): Launched a winter carpet tile collection under its FLOR brand, emphasizing comfort, durability, and ease of maintenance.


Regional Insights

  • Asia Pacific led the global market in 2023, accounting for 45.9% of revenue, propelled by housing initiatives, smart city projects, and rising income levels in China, India, and Southeast Asia.

  • Middle East & Africa captured over 10% market share, supported by infrastructure investments and increased access to capital via PPPs and private funds.

  • North America and Europe continue to adopt advanced flooring materials, with Europe also emphasizing sustainability, and North America benefiting from strong consumer demand and digital innovation in the retail channel.

Application Insights

  • Residential Segment held a commanding 49.5% revenue share in 2023, fueled by rising housing construction, home renovation activity, and government subsidies for first-time buyers.

  • Commercial Segment is seeing robust growth, especially in office spaces, malls, retail stores, and hospitality buildings where durability and visual appeal are critical.

  • Emerging economies are experiencing a boom in public infrastructure projects, driving demand for flooring in institutional and civic buildings.

Market Drivers

  • Rising Urbanization & Housing Demand: Expanding cities and new housing projects, especially in Asia Pacific and Latin America, are fueling flooring product demand.

  • Modern Aesthetic Preferences: Consumers are increasingly prioritizing aesthetics, acoustic comfort, and ease of maintenance in residential and commercial interiors.

  • Technological Advancements: Innovation in waterproofing, stain resistance, and digital printing is creating higher-value flooring solutions.

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