Report : South America Flooring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Resilient Flooring, Non-resilient Flooring, and Soft Cover & Others), Material [Carpets and Rugs, Wood, Laminates, Vinyl Sheets and Tiles (Homogeneous and Heterogeneous, LVT and VCT, and Others), Ceramic Tiles, and Stone & Others], and Application (Residential and Non-Residential)
At 4.7% CAGR, the South America Flooring Market is speculated to be worth US$ 54.77 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America flooring market was valued at US$ 41.50 million in 2022 and is expected to reach US$ 54.77 million by 2028, registering an annual growth rate of 4.71% from 2022 to 2028. Increase in investments by consumers in renovation and rise in demand for vinyl flooring.
Rise in demand for loose lay flooring and introduction of aqua+ technology in the laminate flooring segment is likely to provide growth opportunities to the market. Manufactures such as Aqua flooring, Kronotex, Senhong, Egger, and others provide laminate flooring, adhesives, and plasticizers, including waterproofing technology, making the ideal choice for kitchens, bathrooms, hallways, and commercial areas. These manufacturers have developed patented waterproof acoustic flooring adhesive that offers a new standard in unlimited moisture resistance. Additionally, the demand for flooring with interlocking mechanism for laying and self-adhesive application which enhance ease of installation and provide a do-it-yourself solution are also expected to provide growth. This is expected to drive the market during the forecast period.
On the contrary, stringent government regulations on emissions norms associated with manufacturing of flooring hurdles the growth of South America flooring market.
Based on product type, the South America flooring market is divided into resilient flooring, non-resilient flooring, and soft cover & others. The non-resilient flooring segment held 71.4% market share in 2022, amassing US$ 29.63 million. It is projected to garner US$ 38.97 million by 2028 to expand at 4.7% CAGR during 2022–2028.
Based on material, the South America flooring market is categorized into carpets and rugs, wood, laminates, vinyl sheets and tiles (homogeneous and heterogeneous, LVT & VCT, and others), ceramic tiles, and stone & others. The ceramic tiles segment held 68.9% market share in 2022, amassing US$ 28.62 million. It is projected to garner US$ 38.06 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on application, the South America flooring market is categorized into residential and non-residential. The residential segment held 73.1% market share in 2022, amassing US$ 30.34 million. It is projected to garner US$ 39.69 million by 2028 to expand at 4.6% CAGR during 2022–2028.
Based on country, the South America flooring market has been categorised into the Brazil, Argentina, and Rest of South America. Our regional analysis states that Brazil captured 43.9% market share in 2022. It was assessed at US$ 18.23 million in 2022 and is likely to hit US$ 24.67 million by 2028, exhibiting a CAGR of 5.2% during the forecast period.
Key players dominating the South America flooring market are Mohawk Flooring; Shaw Industries Group, Inc.; Tarkett; Forbo International SA; Gerflor; Interface, Inc.; Beaulieu International Group; Toil Corporation; and Milliken among others.
- In May 2022, New creation collection, the reference in LVT.
- In Feb 2022, Interface expands resilient flooring portfolio with first rigid core collection, Even Path.
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