Global Soft Covering Flooring Market Size to worth USD 60.31 Billion by 2033: Market Insight Report

Global Soft Covering Flooring Market Size to worth USD 60.31 Billion by 2033                                                     

According to a research report published by Spherical Insights & Consulting, The Global Soft Covering Flooring Market Size is Expected to Grow from USD 38.23 Billion in 2023 to USD 60.31 Billion by 2033, at a CAGR of 4.66% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Soft Covering Flooring Market Size, Share, and COVID-19 Impact Analysis, By Product (Carpet Tiles and Broadloom), By Application (Residential and Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.    

The manufacturing, distribution, and use of flooring materials that offer a supple, cushioned surface are all part of the soft covering flooring market. These materials include linoleum, vinyl, rubber, carpets, rugs, and carpet tiles. Soft covering flooring is frequently utilized to improve comfort, aesthetics, and noise reduction in both home and business settings. Growing building activity, increased demand for sustainable and eco-friendly materials, and an increased emphasis on designing comfortable living and working spaces are the main factors propelling the market. The real estate market, particularly in developing countries, is driving a surge in demand for luxurious flooring solutions. As new residential and commercial properties emerge, the need for aesthetically pleasing interiors and comfortable indoor environments increases. The soft-covering flooring sector is crucial in these markets due to infrastructure development in sectors like healthcare, education, industrial automotive, and ongoing residential construction projects. However, the market confronts obstacles such as competition from hard flooring options like ceramic and wood, changes in the economy that impact construction investment, and the requirement for ongoing innovation to satisfy changing consumer preferences.

The broadloom segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the product, the soft covering flooring market is classified into carpet tiles and broadloom. Among these, the broadloom segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Broadloom flooring is popular due to its seamless installation, aesthetic appeal, and ability to cover large areas without visible seams. Advancements in manufacturing have made it durable and eco-friendly, aligning with consumer preferences for sustainability. The increasing demand for luxurious interiors, especially in the real estate market, further drives its popularity.

The residential segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the application, the soft covering flooring market is divided into residential and commercial. Among these, the residential segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The growing preference for comfort and aesthetics in home environments is driving homeowners to invest in interior design, particularly soft-covering flooring options like carpets and area rugs. These options offer visual charm, and functional benefits like noise reduction and insulation, and are also aligned with the growing demand for sustainable living through advancements in eco-friendly materials.

North America is estimated to hold the largest share of the soft covering flooring market over the forecast period.

North America is estimated to hold the largest share of the soft covering flooring market over the forecast period. The demand for high-quality flooring solutions is driven by the increasing trend of home renovations, eco-friendly materials, urbanization, and rising disposable incomes. Consumers are seeking comfortable and aesthetically pleasing flooring options to enhance their living spaces, highlighting the region's commitment to sustainability.

Asia Pacific is predicted to have the fastest CAGR growth in the soft covering flooring market over the forecast period. Rapid urbanization and construction activities in countries like India and China are driving demand for durable flooring solutions. The growing middle class with higher disposable incomes is also driving home improvement spending. The trend towards eco-friendly materials is also influencing consumers' choices in flooring.

Company Profiling

Major key players in the soft covering flooring market include Cargill Inc, Abbey Carpet Company Inc., Beaulieu Group LLC, AstroTurf LLC, Dixie Group Inc., Bentley Mills Inc., and Others.   

Recent Development

• In March 2023, Shaw Industries and Encina announced their collaboration to create a ground-breaking method for recycling carpet trash. By turning post-consumer carpet trash into useful items, this partnership sought to drastically cut down on landfill contributions. The project concentrated on turning worn carpets into sustainable materials for a range of uses by utilizing Encina's cutting-edge technology.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the soft covering flooring market based on the below-mentioned segments:

Global Soft Covering Flooring Market, By Product

• Carpet Tiles
• Broadloom

Global Soft Covering Flooring Market, By Application

• Residential
• Commercial

Global Soft Covering Flooring Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa