United States Floor Covering Market Size

US Floor Covering Market Analysis

The United States floor covering sales strengthened due to the increasing consumer confidence and a sharper increase in single-family home construction. Square foot sales increased. However, it did not keep pace due to a decline in multi-family housing, which started a slowdown in the commercial markets. A key propellant for the expansion of the market is a marked growth in the building and construction industries. The main challenge faced by the industry is the volatility in the prices of raw materials. Builder purchase gains may continue to gain profit as millennials begin to form households. Home floor coverings spending benefited from a double-digit increase in residential improvement construction spending. The builder market makes profits and offers opportunities for the floor covering industry. Home furnishings and floor covering manufacturers are also adopting digital printing technology to cut down on operational expenditures. This technology lowers sampling process time and water consumption. It is also considered to be an eco-friendly alternative to traditional home furnishings and floor coverings.

The outbreak of the coronavirus disease (COVID-19) has acted as a massive restraint on the home furnishings and floor coverings manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. Furthermore, the COVID-19 pandemic has caused countries, including the United States, to enact travel restrictions and social distancing measures, disrupting major economic and financial markets. Demand from downstream markets in pandemic induced a decline in 2020 due to a decrease in corporate profit and private spending on home improvements for the year. However, the market is expected to gain momentum in the long term.