Floor Panels Market to Attain US$ 2.7 Billion at a CAGR of 4.8% by 2033: Fact.MR Report
Innovations in Manufacturing and Material Advancements Leading to Production of Efficient and Sustainable Floor Panels
Rockville , Sept. 20, 2023 (GLOBE NEWSWIRE) — According to the latest report from Fact.MR, a provider of market research and competitive intelligence, the global Floor Panels Market is projected to expand at 4.8% CAGR and reach a size of US$ 2.7 billion by the end of 2033.
Floor panels refer to prefabricated, often modular, elements designed to create the surface of a floor in a building or structure. These panels are engineered for ease of installation, durability, and various functionalities, making them a popular choice in residential and commercial construction projects. Floor panels come in different materials, sizes, and designs to cater to diverse architectural and interior design preferences.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8915
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 2.7 Billion |
| Growth Rate (2023-2033) | 4.8% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Commonly used to create seamless and visually appealing flooring surfaces, floor panels offer benefits such as quick installation, structural support, insulation, and aesthetics. These panels are engineered products designed to provide flooring solutions that offer durability, aesthetics, ease of installation, and sometimes specialized functionalities. The floor panels market encompasses a wide range of materials, styles, and designs to cater to diverse preferences and requirements in both residential and commercial settings.
Innovations in manufacturing techniques and material advancements have led to more efficient and sustainable floor panel options. Demand for eco-friendly and sustainable flooring solutions has led to the development of floor panels made from recycled materials and using low-impact manufacturing processes.
More consumers are seeking personalized designs and patterns in floor panels to match their interior aesthetics, which has led to increased customization options. The growth of the construction industry, particularly in commercial spaces, has driven the demand for durable and aesthetically pleasing floor panels.
Key Takeaways from Market Study
- The global floor panels market stands at US$ 1.68 billion in 2023.
- Worldwide demand for floor panels is projected to rise at a CAGR of 4.8% from 2023 to 2033.
- The market is estimated to touch US$ 2.7 billion by the end of 2033.
- With a market share of 46% in 2023, Asia Pacific accounts for high sales of floor panels.
- The market in China is forecasted to expand at a CAGR of 7.5% from 2023 to 2033.
- The market in Canada is projected to advance at a CAGR of 4% through 2033.
- Demand for steel-based floor panels is set to increase at a CAGR of 5.5% through 2033.
- Sales of aluminum-based floor panels are forecasted to rise at a CAGR of 4.7% during the forecast period.
- Data warehousing accounts for 34% market share in 2023.
“The floor panels market continues to evolve to meet the demands of modern construction and interior design. With a wide array of materials, styles, and functionalities, floor panels play a pivotal role in enhancing the aesthetic appeal, durability, and functionality of various spaces,” says a Fact.MR analyst.
Key Segments of Floor Panels Industry Research Report
| By Type | By Application | By Region |
|
|
|
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8915
Market Competition
Companies are competing by offering a wide range of floor panels designed to meet specific applications and customer preferences. Customization options, including various sizes, materials, finishes, and design aesthetics, allow players to cater to the unique needs of different projects.
- Lindner contributed to environmental conservation in September 2021 through its products and efforts. The company has the CradletoCradle certification for all of its products, including NORTEC, Lindner Lifer, and Floor and More.
Key Companies Profiled
- Triumph Group
- Kingspan Group
- MERO-TSK
- Mohawk Industries
- Armstrong Flooring
- Pentafloor
- Dare Power Dekor Home
- Nature Home
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the floor panels market with historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (steel-based, aluminum-based, wood core, calcium sulfate-based) and application (data warehousing, commercial office building, family residences, industrial manufacturing plants), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Building Panels Market: Expanding at a CAGR of 6%, the global building panels market is expected to increase from a value of US$ 177.9 billion in 2023 to US$ 318.5 billion by the end of 2033.
Stainless Steel Panels Market: According to the latest research by Fact.MR, the stainless steel market is set to witness steady growth during 2021-2031. In short term, the demand is expected to increase at a steady pace and in the long run sales of the stainless steel market is anticipated to grow at a higher CAGR.
Corrugated Steel Panels Market: According to the latest research by Fact.MR, steel panels market is set to witness steady growth during 2021-2031. Demand for these panels will witness steady recovery in the short term, with an optimistic growth outlook in the long run.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : [email protected]
Follow Us: LinkedIn | Twitter | Blog
