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Flooring market predicted value over US$166.63 billion

Market research company Radiant Insights has published a report on the flooring industry market and trends. It predicts that the value of the global commercial flooring market will reach US$166.63 billion by 2020.

A large increase in

worldwide construction is the main reason for this growth. One area of expansion is the healthcare sector. As the average life span of people rises, there is a higher demand for medical buildings, including acute care facilities and senior living buildings, and these require large quantities of vinyl flooring.

There have been many developments in eco-friendly flooring products, including cork, reclaimed hardwood, bamboo, linoleum and rubber. These environmentally-friendly floor materials are expected to make a large impact in the future.

Manufacturers of flooring materials have faced increased costs over the last few years. Raw material costs have risen along with increasing energy and transportation expenses. These challenges have motivated manufacturers to develop more efficient methods to make their products.

In the carpet sector, demand is much higher for commercial spaces than in residential properties where laminate and hardwood flooring is frequently chosen.

Major floor manufacturers are fiercely competitive and need to constantly evolve to be more efficient. They must launch new floor materials and products in order to retain their market share.

This is great news if you want to install solid flooring in a Cheshire property, as new and innovative flooring materials provide lots of options to choose from.

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