Flooring Market-New Construction Projects Ensure Expansion of Residential Sector, Future By 2023

Right from classic hardwood to stylish concrete, a number of manufacturers offer a variety of flooring options as per the lifestyle and budget of the consumer. When selecting flooring materials, durability, style, cost, and comfort are the key concerns of buyers. As the building and construction industry is gaining traction, the demand for flooring materials is likely to intensify over the coming years. Home renovation by the household sector and infrastructural upgrading activities by government bodies are providing considerable opportunities for the expansion of the global market for flooring.

The global market for flooring was valued at US$214.29 bn in 2014. Expanding at a promising CAGR of 7.0% between 2015 and 2023, the market is expected to reach US$391.38 bn by the end of 2023.

Solid Infrastructural Growth in Asia Pacific to Burgeon Demand

Asia Pacific was the leader of the global market for flooring in 2014. As a large number of construction projects are undertaken by private and public entities, the flooring market in Asia Pacific will continue to flourish. As per recent studies, the healthcare, industrial, and commercial domains exhibited greater demand, driven by large-scale industrial development. The growth of this region can also be attributed to the increasing commercial activities in countries such as China and India.

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Other emerging regions such as Africa, Latin America, and GCC can also confer significant opportunities owing to the considerable rise in their GDP, growing per capita incomes, and increased corporate earnings. Storm and earthquake-prone regions in Southeast Asia, East Asia, and North America are also expected to undertake building reconstruction, thereby accelerating the growth of the flooring market. North America will also witness substantial growth on account of the presence of numerous large construction industries.

New Construction Projects Ensure Expansion of Residential Sector

By application, commercial, residential, industrial, and automotive sectors are some prominent segments of the global flooring market. Of these, the residential sector emerged as the dominant segment in the global flooring market in 2014. The rise in construction activities including construction of new buildings, especially in the emerging economies is responsible for the growth of this end user vertical.

The commercial and industrial applications are also slated for growth over the forecast period thanks to the increasing need for flooring materials in replacement flooring and new projects. The postponing of replacement of flooring in the commercial sector during the economic downturn during 2008 has been a prominent driver of the flooring market in the commercial sector.

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By product, the global flooring market has been segmented into vinyl and rubber flooring, tile, wood flooring, carpets and rugs, and laminate flooring. Wood flooring is available in a range of flooring materials including bamboo, maple, oak, teak, alder, cherry, and white ash. Until recently, wood flooring was the most used flooring material. However, the emergence of newer materials such as resilient, laminate, and rubber has diverted the demand towards these cost-efficient solutions.

During 2014, the carpets and rugs segment held the largest share in the global flooring market. These flooring materials are being increasingly deployed in colder regions of the world owing to the warmth they provide. Tile flooring is expected to be the second largest segment. Tile flooring in used in floor fittings, wall fittings, designing, and for protection from natural elements such as moisture and rain. The growth of infrastructure in the developing and developed countries has been responsible for the increasing demand for tile flooring.

Armstrong World Industries, Inc., Shaw Industries Group, Inc., Boral Limited, Mohawk Industries, Inc., Mannington Mills, Inc., and Tarkett Group are some of the leading players analyzed in the report.

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015. Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

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