Germany Resilient Flooring Market Size

Germany Resilient Flooring Market Analysis

Germany constitutes a major share of the resilient floor covering market in the Western European Union. The German resilient flooring market is expected to register a CAGR of greater than 10% during the forecast period, 2021-2026.

Due to COVID-19, the industry is experiencing a strong slowdown in the economy, which restricted the construction of housing and building projects, thus affecting the market for resilient floor coverings. The lockdown restrictions have also limited the new purchases of resilient flooring in Germany. It is anticipated to bounce back during the forecast period (2021-2026) with the changing situations and customers' approach toward the pandemic.

The market for resilient floor coverings is mature and recorded stable growth during the study period, owing to the slowdown of the economy, which led to weak real estate and construction activities. The most important factor driving the growth of the resilient flooring market is the availability of these flooring at economical prices. Resilient flooring is considerably durable and easier to afford in do-it-yourself (DIY) traditions. Thus, the majority of consumers prefer products that are cost-effective, easy to install, and do not involve more timelines. Even though a progression of dedicated online players is shaping the distribution channel in the country, a trend of going to the store is still dominating the market, as most consumers still prefer to go to a specialist store to speak to an expert, to seek help through recommendations, and to physically witness the product before making a purchase.

Resilient flooring material is a blend of synthetic and natural materials. It was primarily designed for commercial spaces. This has been the result of research and development dedicated to produce and introduce product ranges that are more durable, lightweight, and more natural in their appearance. Such features and properties of resilient flooring have been making it popular for applications in the residential sector as well. Technological advancements and product innovations and developments by resilient flooring manufacturers, higher preference for economical, comfortable, lightweight, and durable flooring materials, and the need for better aesthetics in residential and commercial settings are other factors driving the market. As a result of the above-mentioned factors, revenue from the German resilient flooring market is projected to register a substantially high growth rate during the forecast period.