Market Size of Asia-Pacific Floor Covering Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Floor Covering Market Analysis
Asia-Pacific is expected to be the fastest-growing market for floor covering during the forecast period. The growth in the region can be attributed to the growing construction industry, supportive government policies and plans, and rapid urbanization.
- China is projected to grow at the highest rate in the Asia Pacific floor covering market.
- Booming industrialization has created significant momentum in the demand for tiles and other flooring across the world and especially in the emerging economies of Asia-Pacific.
- Investment in infrastructure and capital projects is expected to witness substantial growth in the next few years. Additionally, the residential sector may continue its dominance in the application segments over the predicted period, owing to the replacement demand in the market.
- The demand for durable, low maintenance, affordable, and visually appealing products has led to innovation in the industry for products that are expected to provide comfort and value for money.
