Growing Popularity
of Natural and Sustainable Hospitality Flooring Products Propels the Market
The rising demand for natural and
sustainable hospitality flooring products is one of the major trends
influencing the market. Customers are becoming more health-conscious and they
are looking for items free from hazardous chemicals and synthetic components.
As a result, there has been an increase in demand for natural and sustainable hospitality
flooring materials, which are seen as safer and more eco-friendly. Another
significant development in the hospitality flooring market is the increasing
application of technology to increase product quality and efficiency. Companies
are rapidly investing in cutting-edge technology and software to optimise their
manufacturing processes, eliminate waste, and increase product quality. This
trend is projected to continue in the future years as companies strive for a
competitive advantage in the market. For instance, Tarkett, a French firm
active in the luxury vinyl tile flooring industry, introduced its iD
Inspiration line of luxury vinyl tiles in 2021. This collection of tiles is
designed to mimic natural materials like wood and stone. It is ideal for use in
the hospitality industry, education, retail, and office spaces with
moderate to high foot traffic. The product was developed to take advantage
of nature's ability to provide feel-good environments while also improving
well-being by enhancing the link between the outdoors and the inside areas
where people work, learn, and care.
Emergence of Digital
Printing to Supplement the Market growth
Customer demand for printed vinyl
flooring is expected to increase in the near future. The rising popularity of
this sort of product in commercial settings such as hotels, restaurants, malls,
retail stores, and offices is expected to fuel demand, boosting the printed
vinyl flooring market. The introduction of digital printing technology has
simplified texture and wood printing, attracting the interest of customers all
around the world. Printed flooring outperforms inlaid flooring in terms of
performance. It comes in a variety of textures and styles and may be customised
to meet the needs of the customer. Due to the aforementioned properties, the
vinyl flooring industry is expected to increase steadily in the future.
Carpet Flooring Is
Fueling The Growth of The Hospitality Flooring Market
Carpet is used extensively in the
hospitality sector, from cruise ships to hotels, casinos and restaurants. In
public areas, corridors, ballrooms, and conference rooms and Axminsters
with vibrant designs continue to dominate. These carpets absorb sound, insulate
heat and provide a safe atmosphere by giving a non-slip surface and the
capacity to absorb any impact. Carpets in general absorb airborne contaminants,
resulting in improved indoor air quality. They are easy to clean. Vinyl
flooring is becoming increasingly popular for usage in commercial settings such
as workplaces, households, and other hospitality industries due to its
versatility, durability, affordability and ease of care. As a result,
this flooring may be utilised in high-traffic areas, the requirement for vinyl
flooring for commercial applications is expected to expand.
Raw Material Price
Fluctuations Are Likely to Limit Market Growth
The raw materials include
plasticizers, limestone, polyvinyl chloride resins, glass fibre, colours,
and trace stabilisers. These materials' prices can be either high or
fluctuating. As a result, pricing changes have a significant influence on the
entire manufacturing cost of certain types of flooring. As a result, raw
material fluctuations in prices are expected to impede market
expansion. Despite these obstacles, the hospitality flooring market has
the ability to recover in the post-pandemic era as the sector gradually
recovers. As the need for travel and tourism grows, so will the demand for
luxurious hospitality flooring materials.
Likewise, Group, a floor
coverings wholesaler located in Solihull, completed another acquisition in
April 2022. Similarly, Delta Carpets (Holdings) and its sole subsidiary
Delta Carpets were purchased for US$ 3.9 Mn by Floors subsidiary.
The Loft, Suite, Basal and Studio
series of laminate flooring were introduced in January 2022 by Notion, a
company with its headquarters in India. The products are intended for both
commercial and household application.
Altro, Armstrong Flooring
Commercial, Dur-A-Flex, Ecore International, EcoSurfaces, Gerflor, Interface,
Intex Commercial Flooring, J+J Flooring Group, Kiefer USA, Mohawk Group, Parterre,
Polyflor, RES-TEK, Signature, TAJ Flooring and Tarkett are some of the prominent
market players operating in the global hospitality flooring market.
Asia-Pacific Region
Offers Lucrative Opportunities to The Market
Asia-Pacific is the market region
with the fastest rate of growth globally. Due to the popularity of the HoReCa
industry in major countries such as India and China, the region is estimated to
grow at an exponential rate. Furthermore, increasing urbanisation has increased
the adoption of renovation in the HoReCa business, increasing demand for vinyl
flooring in this region. In 2022, China was the region's largest products
consumer. The country's expansion is attributed to the increased development of
multistore constructions. The expansion of the market in North America is being
driven by the need to renovate commercial buildings, such as restaurants,
coffee shops and hotels. Furthermore, established service industry and
government initiatives to enhance regional social infrastructure. Furthermore,
customer preference for durable and simple-to-install floor coverings fuels
regional market expansion.
The report provides a detailed
overview of the hospitality flooring market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for hospitality flooring market has
been offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates
are also incorporated for every country and region, to provide a detailed view
of the hospitality flooring market. These Y-o-Y projections on regional and
country-level markets brighten the political, economic and business environment
outlook, which are anticipated to have a substantial impact on the growth of
the hospitality flooring market. Some key country and region included in the hospitality
flooring market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Hospitality Flooring Market Research
Report Covers In-depth Analysis on:
·
Hospitality flooring market segments
·
Hospitality flooring market dynamics
·
Hospitality flooring market value and share
analysis
·
Recent trends, restraints, opportunities in hospitality
flooring market
·
Companies & competition involved hospitality
flooring market
·
Latest technologies in hospitality flooring
market
·
Supply chain and value chain hospitality
flooring market
·
Hospitality flooring market sales and
distribution strategies
Hospitality Flooring Market Growth
Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Hospitality flooring industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on hospitality flooring market
forecast by countries
·
Essential information to enhance market position
Bismuth Market - Forecast, COVID -19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2015-2030
Automotive Interior Materials Market - Forecast, COVID -19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2015-2030
Eco-Friendly Straws Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2018-2033