The South America flooring market is expected to grow from US$ 41.50 million in 2022 to US$ 54.77 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2022 to 2028.
Manufacturers and consumers are increasingly preferring vinyl flooring due to its low maintenance, easy application, and cost-effectiveness. The vinyl flooring is manufactured from synthetic chemicals, primarily polyvinyl chloride, which reduces the cost compared to natural wood. With the rise in the demand for affordable houses in urban colonies, real estate developers are increasingly moving toward durable and cost-effective materials. Vinyl flooring provides the required benefits in addition to availability in various textures and patterns for varied customer choices. Additionally, with rising energy prices, the demand for flooring with better insulation properties is expected to increase in the near future.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America flooring market. The South America flooring market is expected to grow at a good CAGR during the forecast period.
The South America flooring market is segmented based on product type, material, application, and country. Based on product type, the market is divided into resilient flooring, non-resilient flooring, and soft cover & others. The non-resilient flooring segment would dominate the South America flooring market in 2022. Based on material, the market is categorized into carpets and rugs, wood, laminates, vinyl sheets and tiles (homogeneous and heterogeneous, LVT and VCT, and others), ceramic tiles, and stone & others. The ceramic tiles segment would dominate the South America flooring market in 2022. Based on application, the market is categorized into residential and non-residential. The non-residential segment would dominate the South America flooring market in 2022. Based on country, the South America flooring market is segmented into Brazil, Argentina, and the Rest of South America. The Rest of South America would dominate the market in 2022.
Key players operating in the South America flooring market include Mohawk Flooring; Shaw Industries Group, Inc.; Tarkett; Forbo International SA; Gerflor; Interface, Inc.; Beaulieu International Group; Toil Corporation; and Milliken by Altair.