Taiwan Floor Covering Market Analysis
The Taiwan Floor Covering Market is expected to register a CAGR of less than 6% during the forecast period.
The infrastructural development of residential and commercial structures in Taiwan has motivated several manufacturers of floor coatings to increase their production capacities in this region. Also, the need for a better type of flooring which is durable has increased. Commercial areas prefer to use Soft Covering material, including Carpets and Rugs. Even in the residential areas, people are now looking toward Floor covering material to maintain an aesthetic view and durability.
Enforcement of government regulations regarding waste disposal and carbon emission significantly influences the broadloom and carpet tile manufacturing industry. As a result, tile manufacturers are working on a product recycling process with more focus on a reverse distribution model to promote the return of carpet tiles. The latest constructed residential spaces prefer to use Floor Covering Materials, and these residential areas are the target audience for Floor Covering companies.
Taiwan Floor Covering Market Trends
High Demand for Soft Covering Material
In Taiwan, in terms of revenue generated from Carpets and Rugs has generated significantly higher revenue than in other segments. The major contribution of this revenue is from commercial places like Banquet Halls and Ceremonies. Also, most floor covering companies are now focusing on producing Soft Covering materials like Carpets and Rugs. Even the household owners are now moving towards Soft Covering as they give a decorative look to the houses and provide an overall lavish touch-up. In recent years, people in urban regions of Taiwan have preferred soft covering materials for floor covering compared to previous years. This trend is expected to continue in the coming years, fueling the growth of the floor covering market in Taiwan.
Higher Requirement for Flooring in Commercial Segment
There has been a gradual increase in the usage of Floor Covering in Commercial places such as Banquets, Meetings, etc., leading to an increase in demand for Soft Coverings such as Carpets and Rugs. Also, the rapid urbanization and, subsequently, the establishment of a large number of Commercial places is another factor fueling the high demand for Floor Coverings in such places. Floor Coverings in Commercial places to attract customers and give an aesthetic sense to them have become common these days in major urban areas in Taiwan. Also, floor coverings have become quite a trend during family parties and occasions. All these factors account for the rise in usage of Floor Covering in the Commercial Sector.
Taiwan Floor Covering Industry Overview
The report includes an overview of the top players operating across Taiwan in the Floor Covering Market. The market is highly fragmented, with many companies sharing a significant portion of the market. Also, the Taiwan Floor Covering Market is highly competitive because the flooring used is of different materials. Most companies focus on only a certain type of Floor Covering Material.
Taiwan Floor Covering Market Leaders
WINNER FLOOR Ltd.
Everwood Ltd
Pacific Hardwood Flooring
HOURM ENG Industry
TAIWAN ENAMELWARE COMPANY LIMITED
- *Disclaimer: Major Players sorted in no particular order
Taiwan Floor Covering Market News
In November 2021, WINNER FLOOR CO LTD started a new factory in New Taipei City, focussing on improving the production of floor tiles and supplying them to Taiwan and neighboring countries.
In May 2021, Everwood Ltd started a new working unit in Kaohsiung to increase hardwood flooring production and manufacture new types of flooring designs using wood.
