Flooring - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

Study #: 3964 | Published: 01/2021 | Pages: 161 | Individual User License: US$ 4,800

US demand for flooring is projected to advance 1.4% annually through 2024 to 24.1 billion square feet valued at $33.0 billion. Growth will be promoted by:

  • continuing consumer interest in home improvement projects – such as kitchen and bathroom remodeling – that frequently entail the replacement of older or worn flooring
  • gains in single-family housing completions – newly built residences tend to have substantial floor space, nearly all of which must be covered by flooring
  • heightened interest among end users in replacing flooring before its useful life has ended in order to upgrade to materials with better aesthetic or performance properties, such as luxury vinyl tile (LVT)

COVID-19 Pandemic Affects Residential & Commercial Markets Differently

The effects of the COVID-19 pandemic on flooring demand in 2020 varied by market:

  • Despite an initial decline in the residential market, flooring demand recovered later in the year as homebuilding was largely unaffected by the epidemic and homeowners – having plenty of time to consider the deficiencies of their residences – undertook a wide range of home improvement projects, including, in many cases, the replacement of flooring.
  • The commercial market exhibited steeper declines as many businesses canceled improvement projects among sharp drops in revenue and foot traffic.

Furthermore, the commercial flooring market will continue to be negatively affected in 2021 as changing work and consumer patterns will mean fewer office buildings, retail sites, and restaurants will need to be built.

Hard Surface Flooring to Continue to Take Market Share from Installed Carpeting

Hard surface flooring has seen its share of the US floor coverings market rise from 40% in 2009 to 51% in 2019, and it will continue to post gains in market share going forward. Users in both the residential and commercial markets will opt for hard surface flooring because of its longer lifespan, low maintenance requirements, and ability to improve indoor air quality. Furthermore, hard surface flooring is often perceived as being more aesthetically pleasing than installed carpeting, so it is frequently used to improve buildings’ appearance and value.

Residential Market to Remain Leading End Use for Flooring

The residential market accounted for the largest share of flooring demand in 2019 and will post the most rapid gains going forward. The US features a large stock of older homes, many of which have large expanses of installed carpeting. Going forward, many homeowners will opt to replace their floor coverings, frequently with hard surface flooring. Products that look like wood or natural stone will particularly benefit, as they fit modern design trends and are considered more attractive than other materials.


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Table of Contents

1. Executive Summary

2. Overview

Study Scope

Historical Market Trends

Impact of COVID-19 Pandemic

Demand by Flooring Type

Demand by Market

Shipments & Foreign Trade

Production

Imports

Exports

Pricing Trends

Installation Costs

Competitive Products

Sustainability Trends

Carpets & Rugs

Hard Surface Flooring

3. Hard Surface Flooring

Scope & Product Description

Demand by Product

Vinyl Flooring

Decorative Tile Flooring

Wood Flooring

Laminate Flooring

Market Share

4. Carpets & Rugs

Scope & Product Description

Demand by Product

Market Share

5. Residential Flooring

Market Scope

Demand by Product

New Construction

Replacement & Remodeling

Housing Types

Demand by Housing Type

Single-Family

Multifamily

Manufactured Housing

6. Commercial Flooring

Market Scope

Demand by Product

New Construction

Replacement & Remodeling

Building Types

Demand by Building Type

Office, Trade, & Lodging

Institutional

Industrial

Other Commercial Buildings

7. Transportation Equipment & Nonbuilding

Market Scope

Demand by Product

Motor Vehicle Flooring

Other Vehicles (Recreational, Aircraft, Ships, Trains) & Nonbuilding Construction

8. Suppliers & Market Share

Key Findings & Industry Composition

Market Share

Mergers & Acquisitions

List of Industry Participants

9. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Spending

Consumer Financing

Building Construction

Residential Building Construction

Housing Completions

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Stock

Commercial Building Improvements & Repairs

Nonbuilding Construction Expenditures

Motor Vehicles

Recreational Boats, Recreational Vehicles, & Civilian Aircraft Shipments


List of Tables

2. Overview

Table 2-1 | Flooring Market, 2009 - 2019

Table 2-2 | Annual Flooring Demand by Product, 2019 - 2021 (million square feet)

Table 2-3 | Annual Flooring Demand by Market, 2019 - 2021 (million square feet)

Table 2-4 | Flooring Demand by Type, 2009 - 2029 (million square feet & million dollars)

Table 2-5 | Flooring Demand by Market, 2009 - 2029 (million square feet)

Table 2-6 | Flooring Supply & Demand, 2009 - 2029 (million square feet)

Table 2-7 | Flooring Average Price by Type, 2009 - 2029 (dollars per square foot)

3. Hard Surface Flooring

Table 3-1 | Hard Surface Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 3-2 | Vinyl Flooring Demand by Product, 2009 - 2029 (million square feet & million dollars)

Table 3-3 | Decorative Tile Flooring Demand by Material, 2009 - 2029 (million square feet & million dollars)

Table 3-4 | Wood Flooring Demand by Product, 2009 - 2029 (million square feet & million dollars)

Table 3-5 | Laminate Flooring Demand by Product, 2009 - 2029 (million square feet & million dollars)

4. Carpets & Rugs

Table 4-1 | Carpet & Rug Demand by Product, 2009 - 2029 (million square feet & million dollars)

5. Residential Flooring

Table 5-1 | Residential Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 5-2 | New Residential Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 5-3 | Residential Replacement & Remodeling Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 5-4 | Residential Flooring Demand by Housing Type, 2009 - 2029 (million square feet)

Table 5-5 | Single-Family Housing Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

Table 5-6 | Multifamily Housing Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

Table 5-7 | Manufactured Housing Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

6. Commercial Flooring

Table 6-1 | Commercial Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 6-2 | New Commercial Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 6-3 | Commercial Replacement & Remodeling Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 6-4 | Commercial Flooring Demand by Building Type, 2009 - 2029 (million square feet)

Table 6-5 | Office, Trade, & Lodging Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

Table 6-6 | Institutional Buildings Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

Table 6-7 | Industrial Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

Table 6-8 | Other Commercial Building Flooring Demand by Product & Application, 2009 - 2029 (million square feet)

7. Transportation Equipment & Nonbuilding

Table 7-1 | Transportation Equipment & Nonbuilding Construction Flooring Demand by Application & Product, 2009 - 2029 (million square feet)

Table 7-2 | Motor Vehicle Flooring Demand by Product, 2009 - 2029 (million square feet)

Table 7-3 | Other Vehicle & Nonbuilding Construction Flooring Demand by Product, 2009 - 2029 (million square feet)

8. Suppliers & Market Share

Table 8-1 | US Flooring Sales by Company, 2019 (million dollars)

Table 8-2 | Selected Mergers & Acquisitions

Table 8-3 | Selected Industry Participants

9. Appendix

Table 9-1 | Relevant Industry Codes

Table 9-2 | Relevant HS Codes

Table 9-3 | Abbreviations & Acronyms Used in Study

Table 9-4 | Macroeconomic Indicators, 2009 - 2029 (billion 2012 dollars)

Table 9-5 | Population & Households, 2009 - 2029 (million persons)

Table 9-6 | Personal Consumption Expenditures, 2009 - 2029 (billion 2012 dollars)

Table 9-7 | Consumer Financing Environment, 2009 - 2019

Table 9-8 | Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 9-9 | Residential Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 9-10 | New Housing Indicators, 2009 - 2029

Table 9-11 | Residential Improvement & Repair Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 9-12 | Commercial Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 9-13 | Commercial Building Stock by Type, 2009 - 2029 (billion 2012 dollars)

Table 9-14 | Commercial Building Improvement & Repair Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 9-15 | Nonbuilding Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 9-16 | Motor Vehicle Indicators, 2009 - 2029

Table 9-17 | Recreational Boats, Recreational Vehicles, & Civilian Aircraft Shipments, 2009 - 2029 (000 units)


List of Figures

1. Executive Summary

Figure 1-1 | US Flooring Market

2. Overview

Figure 2-1 | Flooring Demand, 2009 - 2019 (million square feet)

Figure 2-2 | Annual Flooring Demand by Market, 2019 - 2024 (million square feet)

Figure 2-3 | Flooring Demand by Market, 2009 - 2029 (million square feet)

Figure 2-4 | Flooring Imports: Share by Source, 2019 (billion square feet)

Figure 2-5 | Flooring Exports: Share by Destination, 2019 (billion square feet)

Figure 2-6 | Flooring Average Price by Type, 2009 - 2029 (dollars per square foot)

Figure 2-7 | Selected Flooring Installation Costs, 2009 - 2029 (dollars per square foot)

3. Hard Surface Flooring

Figure 3-1 | Hard Surface Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 3-2 | Vinyl Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 3-3 | Decorative Tile Flooring Demand by Material, 2009 - 2029 (million square feet)

Figure 3-4 | Wood Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 3-5 | Hard Surface Flooring Market Share by Company, 2019 (billion dollars)

4. Carpets & Rugs

Figure 4-1 | Carpet & Rug Demand by Product, 2009 - 2029 (million square feet)

Figure 4-2 | Carpets & Rugs Market Share by Company, 2019 (billion dollars)

5. Residential Flooring

Figure 5-1 | Residential Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 5-2 | New Residential Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 5-3 | Residential Replacement & Remodeling Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 5-4 | Residential Flooring Demand by Housing Type, 2009 - 2029 (million square feet)

Figure 5-5 | Single-Family Housing Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 5-6 | Multifamily Housing Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 5-7 | Manufactured Housing Flooring Demand by Product, 2009 - 2029 (million square feet)

6. Commercial Flooring

Figure 6-1 | Commercial Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 6-2 | New Commercial Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 6-3 | Commercial Replacement & Remodeling Flooring Demand by Product, 2009 - 2029 (million square feet)

Figure 6-4 | Commercial Flooring Demand by Building Type, 2009 - 2029 (million square feet)

7. Transportation Equipment & Nonbuilding

Figure 7-1 | Transportation Equipment & Nonbuilding Construction Flooring Demand by Product, 2009 - 2029 (million square feet)

8. Suppliers & Market Share

Figure 8-1 | US Flooring Market Share by Company, 2019 (billion dollars)

Figure 8-2 | US Flooring Market, 2019: Leading Supplier

Figure 8-3 | US Flooring Market, 2019: Second Leading Supplier

Figure 8-4 | US Flooring Market, 2019: Third Leading Supplier

Figure 8-5 | US Flooring Market, 2019: Fourth Leading Supplier

Figure 8-6 | US Flooring Market, 2019: Fifth Leading Supplier

Figure 8-7 | US Flooring Market, 2019: Sixth Leading Supplier

9. Appendix

Figure 9-1 | Annual Growth in Real GDP, 2000 - 2019, Compared to 1980 - 2005 Average (percent)

Figure 9-2 | Annual Population Growth, 2004 - 2019 (percent)

Figure 9-3 | New Housing Square Footage by Housing Type, 2004 - 2019


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