Global Soft Covering Flooring Market Research Report: Information by Product (Carpet Tiles, and Broadloom), by Application (Residential and Commercial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) — Forecast till 2025

The global soft covering flooring market is expected to grow with a CAGR of approximately 3.0% between 2019 and 2024.

The global soft covering flooring market is primarily driven by the increasing construction activities in emerging economies in Asia-Pacific and the Middle East & Africa. The raw materials used for manufacturing soft covering flooring are nylon, polypropylene, polyester, and triexta. These raw materials are mostly preferred by the manufacturers and are highly used to produce carpets and rugs in the overall flooring industry. Moreover, recycled nylon material is expected to experience huge demand in the flooring industry nowadays, as the manufacturers are using 100% recycled materials in order to reduce the environmental footprint.

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The soft covering flooring market is emerged to be the competitive industry with the presence of small and major manufacturers focusing on various strategies such as product differentiation, innovative designs, mergers & acquisitions, and expansion in order to increase its market presence, globally.

North America is expected to account for the largest market share in the global soft covering flooring market during the forecast period.

Geographically, the global soft covering flooring market has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the World.

North America accounted for the largest market share in 2018, which will retain its position till 2024. This is attributed to the various factors such as increasing demand for green buildings and sustained investments in commercial real estate. The US is expected to be the largest soft covering flooring market in North America. This is due to the robust growth in commercial and residential sectors in the US, are projected to increase the demand for soft covering flooring market in the region.

Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the rapid urbanization coupled with technological advancements in the construction industry across the emerging economies such as China and India. For instance, China, being the foremost global supplier of soft covering flooring raw materials, is anticipated to fuel the growth of construction industry. This is expected to positively impact the market over the forecast period.

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Some of the key players operating in the global soft covering flooring market are Abbey Carpet & Floor (US), Beaulieu International Group (Belgium), Cargill, Incorporated (US), Bentley Mills, Inc. (US), The Dixie Group, Inc. (US), Engineered Floors LLC (US), Mannington Mills, Inc. (US), Milliken & Company (US), Mohawk Industries (US), Trinseo S.A. (US), and Interface, Inc. (US).

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