Asia Pacific Indoor Flooring Market Trends and Analysis by 2028

Asia Pacific indoor flooring market in Asia Pacific is expected to grow from US$ 27.35 billion in 2021 to US$ 107.14 billion by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028.  

R&D facilities, laboratories, biotechnology labs, and clean rooms, which are among high-capital ventures, might face severe consequences of downtime caused by flooring or floor coating. In such cases, fast-cure floor coatings are used to avoid downtime or keep it to a minimum. The recently developed carpet, vinyl, linoleum, and rubber coatings are being applied on the interior as well as exterior surfaces. With ever-increasing time pressure on contractors to return the floor to service as early as possible, the development of a fast-cure floor coatings is emerging as a boon for building contractors and personnel involved in the indoor flooring applications. The use of fast-cure indoor flooring systems can also help contractors save on labor costs due to the quick application in the confined time frame. Further, the short curing time is associated with minimizing labor hours.

APAC is characterized by many developing countries, a positive economic outlook, high residential and industrial presence, huge population, and rising disposable income. All these factors make APAC a major growth driving region for various markets, including indoor flooring. The lockdown of various factories in China affects the global supply chains and negatively impacts development, delivery schedules, and various products and services. Even as the factories in China are beginning to reopen, several businesses have reduced or hit pause on their operations. According to world meter till 24th March, 2021 90,147 cases have been registered in China. The region comprises of several developing countries, which consist of old indoor infrastructure with the old interiors such as flooring. During lockdown the process of maintenance and renovation of home and other infrastructure got hampered, with the deployment of advanced indoor flooring. Besides, the most commonly recorded consequence of COVID-19 is a significant labor shortage in China. The construction industry in China is heavily reliant on rural migrant labor, with 54 million rural migrant workers employed in the industry, according to the National Bureau of Statistics of China. Since the lockdown, migrant workers who had returned to their hometowns for the Lunar New Year holiday were unable to return to work. In a survey conducted by the China Building Industry Association and released on 15 April 2020, 90.55 percent of respondents said development had been hampered, and 66.04 percent reported a labor shortage. Besides, According to Oxford Economics, China's annual construction production will slip by 8% this year but increase by 14.5 percent in 2021. India's production is forecast to fall 5.4 percent this year, before rebounding to 7.7 percent in 2021.

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 Asia Pacific indoor flooring market. The Asia Pacific indoor flooring market is expected to grow at a good CAGR during the forecast period.

Asia Pacific Indoor Flooring Market Revenue and Forecast to 2028(US$ Million)

Asia Pacific Indoor Flooring Market Segmentation

By Type

• Ceramic Tiles
• Carpet
• Vinyl Linoleum & Rubber
• Wood & Laminate
• Others

By End User

• Residential
• Non-Residential

By Country

• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC 

Companies Mentioned -

• Forbo International SA
• Armstrong Flooring, Inc.
• Beaulieu International Group
• Interface, Inc.
• Toli Corporation
• Mohawk Industries, Inc.

Asia Pacific Indoor Flooring Report Scope