Non-resilient Flooring Market, Global Industry Growth Analysis, Recent Developments, Strategies, Market Impact, Segmentation, Size, Growth, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2028
Posted on: 2021-09-22 12:29:45
Global Non-resilient Flooring Market: Overview
The global non-resilient flooring market size was estimated at US$ XX Billion in 2020 and is projected to grow at a CAGR of XX% over the upcoming years. The key growth factors behind the growth of non-resilient flooring market include the growing urbanization along with rising building & construction industry across the globe. Furthermore, the increased remodeling activities along with the growing demand for non-resilient flooring in the emerging economies are some other key factors for the growth of the non-resilient flooring market in the upcoming years.
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Global Non-resilient Flooring Market: COVID-19 Impact
The COVID-19 pandemic had a huge impact across all the industries including logistics & supply chain, oil & gas, manufacturing, electronics, and others. The partial or full lockdown in the year 2020 and 2021 across numerous countries such as India, the U.S., the U.K., Germany, and others had further impacted the supply of raw materials and finished products across the globe. The demand for automotive parts has decreased during the COVID-19 period due to halt in the manufacturing industry as the demand for raw materials and finished good has been halted during the COVID-19 period along with the decreased construction activities worldwide during the COVID-19 period. Therefore, the global non-resilient flooring market is severely impaced by COVID-19.
Global Non-resilient Flooring Market: Application Analysis
On the basis of application, the global non-resilient flooring market has been segmented into residential, commercial, and industrial. In the non-resilient flooring market, the residential category had a major share in the global market in 2020 and is estimated to continue its dominance over the forecast period. This is ascribed to growing urbanization in the emerging economies of Asia Pacific and increased home reconstruction activities in the developed nations. Besides, the commercial category is estimated to witness high growth during the forecast period.
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