Synthetic Textile Flooring Market: Overview
- Synthetic textiles are mostly utilized for the production of textile flooring. Synthetic textile flooring is one of the key components of interior refurbishment systems used in residential and commercial sectors. Synthetic textile flooring based on tufting technology is a commonly accepted technology by manufacturers in terms of manufacturing cost, as well as easy installation and ease of use by consumers.
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Key Drivers of Synthetic Textile Flooring Market
- The synthetic textile flooring market is predominantly driven by textile industry. Consumption of textiles and home furnishings is growing rapidly, owing to rise in consumer spending on home renovation and accelerating investments in infrastructural development. In Asia Pacific, rise in requirement from textile industries in countries such as India, China, South Korea, and Indonesia is also boosting the demand for the synthetic textile flooring.
- Strict quality control, advanced production technologies, and customer and fashion oriented marketing are attributing to the demand for synthetic textile flooring. Synthetic textile flooring is better solution for hospitals, higher education facilities, and gyms where clean design is important, but heavy wear and tear is likely. Thus, increasing use of synthetic textile flooring in the hospitals and schools is likely to boost the synthetic textile flooring market. Increase in demand of artificial grass in outdoor lawns and sports fields is expected to further drive sales of synthetic textile flooring market during the forecast period.
- Increase in demand for synthetic textile floorings for aesthetic purposes and for noise reduction, echo-proofing in commercial spaces such as office buildings, hotels and restaurants, and theatres and auditoriums is a key factor driving growth of the synthetic textile flooring market. Removal of stains and spillage occurred on synthetic textile flooring is easy as compared to conventional flooring due to which synthetic textile flooring is increasingly adopted in household decoration purposes.
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Key Market Segment
- Based on product type, the carpet segment is expected to dominate the global synthetic textile flooring market. Carpet is preferred for various applications in residential and commercial spaces. Carpet synthetic flooring acts as pseudo flooring and is available in various designs and textures.
- In terms of technology, the tufting segment is projected to hold major share of the global synthetic textile flooring, owing to lower manufacturing cost, as well as easy installation and ease of use by consumers
Asia Pacific to Hold Major Share of Global Synthetic Textile Flooring Market
- Asia Pacific is anticipated to constitute the largest share of the global synthetic textile flooring market. In Asia Pacific, supportive government regulations in China and India aimed at promoting investments in their textile manufacturing sectors are expected to fuel the market in the region.
- China is a leading producer and exporter of raw textiles and garments, globally. Asia Pacific accounted for a major share of the global textile market in 2018. The market in the region is anticipated to expand further, owing to the positive outlook toward apparel & garments market in China and India.
- In countries in Asia Pacific, such as China and India, government supports to enhance agricultural yield of cotton, jute, and other fibers which is anticipated to drive the textile market in the region. Expansion in the textile industry is boosting the demand of synthetic textile flooring.
- Growing construction industry in the U.S. is estimated to drive the synthetic textile flooring market. In the U.S., revival of residential construction sector and improvements in infrastructure facilities in developing regions are expected to fuel the demand for synthetic textile floorings.
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Key Players Operating in the Market:
The synthetic textile flooring market is highly concentrated with top manufacturers accounting for approximately 20% to 25% of the market. Few of the key players operating in the Synthetic Textile Flooring market include:
- MOHAWK INDUSTRIES, INC.
- Shaw Industries Group, Inc.
- Tarkett
- Beaulieu International Group
- Interface, Inc.
- Balta Industries NV
- Forbo Corporate
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