Asian Floor Covering Market

Asia-Pacific Floor Covering Market Analysis

The Asia-Pacific Floor Covering Market is expected to register a CAGR of 5.9% during the forecast period.

Asia-Pacific is expected to be the fastest-growing market for floor covering during the forecast period. The growth in the region can be attributed to the growing construction industry, supportive government policies and plans, and rapid urbanization.

• China is projected to grow at the highest rate in the Asia Pacific floor covering market.
• Booming industrialization has created significant momentum in the demand for tiles and other flooring across the world and especially in the emerging economies of Asia-Pacific.
• Investment in infrastructure and capital projects is expected to witness substantial growth in the next few years. Additionally, the residential sector may continue its dominance in the application segments over the predicted period, owing to the replacement demand in the market.
• The demand for durable, low maintenance, affordable, and visually appealing products has led to innovation in the industry for products that are expected to provide comfort and value for money.

Asia-Pacific Floor Covering Market Trends

China is the Major Exporter of Ceramic Tiles to the United States

The growth in the ceramic tiles market may vary in co-relation with the construction industry. Increasing residential construction is expected to drive the demand for indoor and outdoor wall covering with ceramic tiles. The rising population may significantly boost construction needs, in turn, increasing the demand for ceramic tiles. Furthermore, increasing commercial construction is expected to drive the global ceramic tiles market. Asia-Pacific is anticipated to dominate the global ceramic tiles market, owing to the positive outlook for the construction industry in the major markets, such as India, China, Australia, and New Zealand. China is the major exporter of the ceramic tiles to the United States.

Floor Area of New Office Buildings in Tokyo, Japan

The office building market in Tokyo is experiencing unexpectedly steady inflation, due to high demand from companies looking to relocate and expand their office spaces. In 2015, the total floor area of new office buildings accounted for about 1.09 million square meters. The vacancy rate of offices remains at a historically low level, most of the newly constructed building’s office spaces are already completely reserved.

Asia-Pacific Floor Covering Industry Overview

The report covers major international players operating in the Asia-Pacific floor covering market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

Asia-Pacific Floor Covering Market Leaders