GCC flooring market is driven by growing number of construction projects in the region
According to the latest report published by the IMARC group, titled “GCC Flooring Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027,“that the GCC flooring market size reached US$13.4 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$19.5 billion by 2027posting a growth rate (CAGR) of 6.4% during the period 2022-2027.
Year considered to estimate the market size:
Base year of analysis: 2021
Historical period: 2016-2021
Forecast period: 2022-2027
Flooring represents layers of hard or soft finished materials used to cover a floor structure to facilitate a leveled surface. They can be of several types, including tile floors, stone floors, wooden and laminate floors, carpet floors, etc. These flooring materials are selected based on several aspects, such as cleaning effort, cost, endurance, sound insulation, etc. to improve the appearance of the interior space, provide better air quality, are easy to install and guarantee durability. As a result, flooring finds many applications in residential and commercial establishments across GCC.
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We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Competitive scenario with key players:
The competitive landscape of the market has also been analyzed with some of the key players being
- RAK Ceramic PJSC
- Jands Enterprise Inc DBA Carpetland
- Kährs Holding AB (publisher)
- Swiss hardwoods
- Gerbur GmbH
- Swiss Krono AG
- Concord Terrazzo Company, Inc.
GCC Flooring Market Trends:
Growing number of renovation activities and new construction projects, owing to increased involvement of the private sector focused on sustainable economic growth, is mainly driving the GCC flooring market. In addition to this, the ballooning investments undertaken by government bodies to promote massive industrial development further stimulate the demand for products. Apart from this, the growing concern over environmental pollution and increasing construction of green buildings are acting as significant growth factors.
In this light, shifting preferences towards eco-friendly flooring products and introduction of new tile variants from recycled raw materials by major manufacturers are also positively influencing the market across the country. Additionally, escalating research and development (R&D) activities and increasing technological advancements in the flooring industry that have resulted in improved product characteristics, better water resistance, a wide variety of available colors, digitally printed tile designs, etc., are expected to propel the GCC flooring market over the forecast period.
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