The Europe flooring market to grow by over 6% CAGR over the forecast timeframe. The market expected to generate higher revenues owing to rising investments in renovation and remodeling activities.
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Additionally, flooring is also an essential part of any interior design, owing to this it is generally observed that interior designer or architects while working on the proposals of any building whether a commercial, residential or an industrial structures always consider flooring as a key aspect. Citing an example, the key aspects for industrial buildings are functionality and wear resistance, while for residential buildings it is beauty and elegance.
The flooring market is expected to observe appreciable growth owing to rapid industrialization and urbanization coupled with increasing number of renovation & remodeling activities. Flooring is generally the process of providing clean, durable, smooth as well as water-resistant levelled surface to the residential, commercial and industrial structures. The floor needs to be hard, durable, and sufficiently robust in order to bear the loads being exerted over it.
All floors comprise of two key components namely floor base and floor covering. The use of the floor base is generally to provide an unsinkable and strong surface to floor covering. The floor covering is a layer of materials such as marble, mosaic, and tiles among others, which are placed over the floor base. In addition, the name of the floor is set by the materials utilized for floor covering.
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In terms of application, the overall flooring market is categorized into industrial, commercial, and residential. Among these, residential application will generate over $260 billion revenue by the end of the analysis period. Rising population, growing urbanization and disposable income of consumers, coupled with the availability of a wider range of financing options is driving residential application segment.
Based on product, the flooring market is classified into seamless flooring, non-resilient flooring, resilient flooring, and soft covering. Among these, seamless flooring will showcase nearly 9% CAGR over the forecast timeframe owing to enhanced aesthetics, low maintenance, and longer product life cycle.
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The other benefits of seamless flooring include durability, meaning these are very strong in nature in comparison to natural concrete surface, are easy to maintain since dirt remains could be cleared away with ease, are excellent resistance to chemicals and acids.
Further, damaged areas can easily be fixed. Seamless flooring also comes in different solid colors and other color combinations as well. The above-mentioned benefits will thus fuel the demand for seamless flooring over the coming years.
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