US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

US Flooring Market Cautiously Optimistic in Face of COVID-19

US manufacturers of flooring are beginning to restart production and boost operations as a number of states loosen restrictions on commercial activity. Many flooring producers were optimistic about 2020 before the pandemic, as a strong housing market and a high level of consumer interest in home improvement projects was expected spur demand for flooring materials.

While the housing market is expected to see declines in 2020 due to the COVID-19 pandemic, the US flooring industry is still confident that sales – while not as high as were originally projected – will not fall dramatically. US flooring manufacturers are anticipating sales to be supported by factors such as:

  • the nation’s shortage of affordable housing – home builders will continue to erect new homes to meet demand for housing
  • remodeling interest among some homeowners – especially those sheltering in place for weeks and looking to improve the appearance or functionality of their homes
  • the continuing popularity of hard-surface flooring that can be installed by do-it-yourself consumers, such as luxury vinyl tile, decorative tile, and laminate and hardwood flooring
  • lessened competition from China, the expected continuation of tariffs are compounded by supply disruptions caused by the production limitations that followed stay-at-home orders in Q1 and early Q2

For more information about the US flooring industry industries, see The Freedonia Group’s studies on Global Flooring, Global Carpets & Rugs, and Global Hard-Surface Flooring, as well as its coverage of the Construction and Building Products industry.