Fiberglass Flooring Market by Type (Luxury Vinyl Tiles, Vinyl Composite Tiles, Vinyl Sheet), Application (Residential, Commercial, Industrial) & Region for 2024-2031
Report ID: 248075|No. of Pages: 202
Fiberglass Flooring Market by Type (Luxury Vinyl Tiles, Vinyl Composite Tiles, Vinyl Sheet), Application (Residential, Commercial, Industrial) & Region for 2024-2031
Fiberglass Flooring Market Valuation – 2024-2031
The market for fiberglass flooring is driven by its durability, water resistance and low maintenance. It is often used in commercial and industrial environments where heavy traffic and tough circumstances exist. Growing demand for sustainable and eco-friendly building materials fuels its expansion. This is likely to enable the market size surpass USD 853.57 Million valued in 2023 to reach a valuation of around USD 1242.45 Million by 2031.
Technological developments and innovations in fiberglass flooring improve performance and aesthetic possibilities, making it more appealing to a larger market. The increasing emphasis on interior design and functional flooring solutions helps to boost its use in residential areas. The rising demand for Fiberglass Flooring is enabling the market grow at a CAGR of 5.30% from 2024 to 2031.
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Fiberglass Flooring Market: Definition/ Overview
Fiberglass flooring is constructed of fiberglass-reinforced materials, which provide durability and resilience to wear and tear. It is widely utilized in commercial and industrial environments because of its ability to resist high foot traffic and harsh conditions while keeping a sleek appearance.
In practical applications, fiberglass flooring is perfect for places that require minimum maintenance and great durability, such as hospitals, labs and warehouses. Its non-porous surface is stain-resistant and easy to clean, which aids in the maintenance of hygiene and safety.
Because of its durability and recyclability, fiberglass flooring is expected to be used more frequently in eco-friendly and sustainable building projects in the future. Material technology advancements may improve its performance and aesthetics, giving it a more adaptable alternative for both residential and commercial applications.
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Will Increasing Global Population Boost the Fiberglass Flooring Market Growth?
The growing global population is expected to promote the Fiberglass Flooring Market growth. As urbanization accelerates and new residential, commercial and industrial buildings are built to accommodate rising populations, the demand for long-lasting and low-maintenance flooring solutions, such as fiberglass, increases. Fiberglass flooring’s characteristics, such as resistance to wear, staining and moisture, make it a popular choice for high-traffic and severe settings, propelling its use in a variety of industries.
Furthermore, the demand for ecological and cost-effective building materials coincides with the benefits of fiberglass flooring, accelerating market expansion. As additional regions develop and expand, the demand for robust flooring solutions will most likely rise, adding to the overall growth of the Fiberglass Flooring Market.
Will Fluctuation in the Prices of the Raw Materials Hamper the Fiberglass Flooring Market?
Price changes in raw materials can have a negative impact on the Fiberglass Flooring Market. Fiberglass flooring is made from particular ingredients like glass fibers, resins and additives. Volatility in the prices of these raw resources can raise production costs, which can be passed on to customers as higher prices. This can affect market demand, particularly in cost-sensitive areas. Furthermore, unpredictability in raw material costs can disrupt supply networks and impair enterprises’ ability to provide consistent products.
To counteract these disadvantages, corporations may look for alternate materials or invest in more efficient manufacturing techniques. However, persistent oscillations might still constitute a threat to market stability and growth, thereby delaying the adoption and spread of fiberglass flooring solutions.
Category-Wise Acumens
Will High Aesthetic Appeal and Durability Drive the Luxury Vinyl Tiles (LVT) Segment?
High visual appeal and durability are important drivers of the Luxury Vinyl Tiles (LVT) category. LVT offers a variety of design options and closely resembles natural materials such as wood and stone, making it an appealing alternative for both residential and commercial environments. Its durability, which includes resistance to scratches, stains and moisture, adds to its appeal, particularly in high-traffic environments. LVT’s ability to retain its beauty over time with minimal maintenance increases its market demand.
Furthermore, manufacturing developments have improved installation methods, like as click-lock systems, making LVT even easier to use. As consumers seek flooring solutions that combine style, durability and cost-effectiveness, LVT continues to gain appeal, fueling its expansion in the Fiberglass Flooring Market.
Will Increasing Need for Low-Maintenance Versatile Flooring Solutions Drive the Commercial Segment?
The increasing need for low-maintenance and adaptable flooring solutions is a major driver in the commercial industry. Flooring in areas such as offices, retail stores and healthcare facilities must tolerate high foot traffic while requiring little maintenance. Fiberglass flooring, particularly Luxury Vinyl Tiles (LVT) and Vinyl Composite Tiles (VCT), is perfect for commercial application since it is durable, easy to clean and provides long-lasting performance.
Furthermore, its design adaptability enables organizations to present a professional and appealing image while maintaining functionality. As more commercial spaces prioritize cost-effective, high-performance flooring solutions that reduce downtime and maintenance costs, demand for fiberglass flooring in this category is predicted to continuously rise, adding to overall market growth.
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Will High Demand from Commercial and Industrial Sectors Drive the Market in North America?
The Fiberglass Flooring Market in North America is driven primarily by rising demand from the commercial and industrial sectors. Businesses and industries value long-lasting, low-maintenance flooring solutions that can endure heavy traffic, spills and wear, thus fiberglass flooring is an excellent alternative. Commercial spaces such as offices, retail stores and healthcare facilities require resilient, easy-to-clean flooring that is both useful and visually appealing.
The industrial sector also relies on flooring that can withstand tough circumstances while still meeting safety and hygiene regulations. With continued infrastructure investments and a growing emphasis on sustainable building materials, demand for fiberglass flooring in these sectors is increasing, bolstering North America’s position as a prominent market region.
Will Increasing Disposable Incomes and Evolving Consumer Preferences Drive the Market in Asia Pacific Region?
The Fiberglass Flooring Market in Asia-Pacific is being driven by rising disposable incomes and changing consumer preferences. As incomes rise, people are investing more in home improvements, looking for fashionable, long-lasting and low-maintenance flooring options such as fiberglass. The shift toward modern living spaces have resulted in a growing preference for flooring solutions that are both functional and visually appealing.
Furthermore, rising urbanization and infrastructural development in countries such as China, India and Southeast Asian nations have increasing demand in both the residential and commercial markets. The burgeoning middle class and increasing awareness of high-quality, low-cost flooring solutions are also driving market expansion. These factors have positioned Asia-Pacific as the fastest-growing region in the fiberglass flooring industry, with significant growth anticipated in the future years.
Competitive Landscape
The Fiberglass Flooring Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.
Some of the prominent players operating in the Fiberglass Flooring Market include MOHAWK INDUSTRIES, INC., Mannington Mills, Inc., Shaw Industries Group, Inc, NOX CORP., Milliken, AWI Licensing LLC, Gerflor, Tarkett.
Latest Developments
- In July 2022, Real Floors Inc. announced that it would unite Arbour Contract Carpet with its family group of firms to becoming the premier American supplier of multifamily carpeting.
- In August 2022, Owens Corning unveiled its new PINK Next Gen Fibreglass insulation. Compared to the company’s previous solutions, the new insulating solution allows installations to be completed up to 23% faster. The new advanced fiber technology creates an extraordinarily strong layer of insulating micro-pockets by tightly weaving soft, fine threads together.
- In January 2021, Johns Manville announced the launch of a thermal recycling technology for discarded glass fiber. The system was meant to avoid more than 10,000 tons of waste from entering landfills each year, with a predicted recycling efficiency of over three tons per hour.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2018-2031 |
| Growth Rate | CAGR of ~5.30% from 2024 to 2031 |
| Base Year for Valuation | 2023 |
| Historical Period | 2018-2022 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Million |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis. |
| Segments Covered |
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| Regions Covered |
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| Key Players | MOHAWK INDUSTRIES, INC., Mannington Mills, Inc., Shaw Industries Group, Inc, NOX CORP., Milliken, AWI Licensing LLC, Gerflor, Tarkett. |
| Customization | Report customization along with purchase available upon request. |
Fiberglass Flooring Market, By Category
Type:
- Luxury Vinyl Tiles
- Vinyl Composite Tiles
- Vinyl Sheet
Application:
- Residential
- Commercial
- Industrial
Geography:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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Customization of the Report
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Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Fiberglass Flooring Market, By Type
• Sheet Flooring
• Tile Flooring
5. Fiberglass Flooring Market, By Application
• Residential Flooring
• Commercial Flooring
• Industrial Flooring
6. Fiberglass Flooring Market, By End-User Industry
• Construction
• Healthcare
• Retail and Hospitality
• Education
• Manufacturing and Warehousing
7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• Tarkett
• Mannington Mills
• Shaw Floors
• NOX Corporation
• Milliken
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
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For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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