Top 5 Leading Companies In The Flooring Industry
Flooring is an integral part of any interior design and it directly affects user experience with that design. It serves as the foundation of any design and a good quality flooring enhances the look and appeal of the basic structure. It is the last material applied over a subfloor or floor structure to arrange for a walking structure. Carpets, ceramic tiles, laminates, and vinyl tiles are majorly utilized products as they offer an attractive, hard, clean, and smooth finish to floors. The increasing global population and the need for housing surge the product demand. Further, the rising industrialization and urbanization escalates the product demand in commercial applications.
The coronavirus pandemic gravely affected the operations in the construction industry. Supply chain disruptions, raw material, and labor shortages experienced amid the pandemic affected construction activities. Government’s orders to temporarily dismiss construction activities led to delayed construction and renovation projects. However, government and private investments to enhance and upgrade the healthcare sector invigorated flooring demand and are likely to be a key trend prevailing in the coming years. As per Fortune Business InsightsTM, the global flooring market size is projected to hit USD 517.74 billion by 2028. The mushrooming demand for healthcare facilities, commercial amenities, and residential buildings is estimated to uptick demand.
Fortune Business Insights Identifies the Following as the Top 5 Leading Companies:
- Mohawk Industries Inc.
Headquartered in Calhoun, Georgia, U.S., this American flooring manufacturing corporation was founded in 1878, and specializes in floor covering products for commercial and residential applications in North America and Europe. Luxury vinyl tile, sheet vinyl, laminate flooring, hard flooring products (hardwood and natural stone flooring, porcelain & ceramic tile), and soft flooring products (rugs and carpets) are included in the company’s portfolio. In May 2021, the company launched an ingenious collection of modular carpet planks called Data Tide. The new collection celebrates the symbiotic relationship between data and nature through visualization of water.
- Shaw Industries Inc.
Founded in 1946 and headquartered in Dalton, Georgia, U.S., the company is amongst the world’s largest carpet manufacturers. It is a subsidiary of Berkshire Hathaway and a supplier of tile & stone flooring products, laminates, hardwood, resilient, carpet, and synthetic turf for the commercial and residential markets globally. The company has its offices located throughout the U.S., the U.K., the UAE, Singapore, Mexico, India, France, China, Chile, Canada, Brazil, Belgium, and Australia. In August 2021, the company launched its first Cradle-to-Cradle Gold flooring products.
- Mannington Mills Inc.
Headquartered in Salem, New Jersey, U.S., the company was founded by John Boston Campbell and his sons, and is one of the oldest and largest family-owned international flooring company. The company is renowned for manufacturing luxury vinyl tile and also manufactures commercial rubber & carpet, porcelain tile floors, hardwood, and laminates for commercial and residential applications. In January 2020, the company launched updated sheet vinyl patterns. An addition to Revive, Miramar features Luxe/Glam trend in a unique diamond geometric design with subtle veining and soft color variation.
- Armstrong Flooring Inc.
Incorporated in 2016, this Pennsylvania-based corporation is a pioneer manufacturer of resilient flooring. With its headquarters in Lancaster, Pennsylvania, U.S., the company has eight operations plants across three countries. In February 2021, the company launched two new luxury flooring collections called Theorem and Exchange. The two new collections feature patented Diamond 10 technology for a category-leading scuff, stain, and scratch performance.
- Tarkett SA
Founded in 1997 and headquartered in La Defense, France, this multinational corporation specializes in manufacturing floor and wall coverings. The company mainly produces floor coverings for sports venues, hospitality & retail facilities, healthcare facilities, schools, and houses. The company launched three new flooring products in December 2019. The new products are designed in hard and soft surfaces compatible for applications in a variety of commercial spaces.
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The major companies operating in the cutthroat competition emphasize strategic acquisitions, technological advancements, and collaborations to amplify their growth prospects. They are heavily investing in research and development activities to launch innovative and advanced products. The exponentially rising demand for healthcare facilities, commercial amenities, and residential buildings is estimated to uptick the product demand. Additionally, the soaring industrialization and urbanization escalates the demand for flooring products in commercial applications.