Laminate flooring and ceramic tile will lead the global increase in demand for floor coverings through 2008, according to a recent study released by Cleveland-based market research firm, the Freedonia Group Inc.
The study predicts that worldwide demand for floor coverings will increase by 4.3 percent annually through 2008 to 12.6 billion square meters, valued at nearly $123 billion.
Laminate flooring, ceramic tile and other non-resilient products will record the strongest sales gains, according to the study, supported by consumer preference for high-end and natural products as income levels rise.
The Freedonia Group also forecasts that demand for vinyl flooring, linoleum and other resilient products will all also accelerate. Growth in carpet and rug demand will rise at a slower pace.
The United States will remain the largest single national market, accounting for over one-fifth of world carpet and flooring demand. According to Freedonia, strong increases in demand will also be registered in China, Thailand, India, Russia, Turkey and South Korea.
The study predicts the size of the Chinese floor covering market will rival that of the United States by 2013.
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