Soft Covering Flooring Market Size, Share and Trends 2024 to 2034

Soft Covering Flooring Market Size and Forecast 2024 to 2034

The global soft covering flooring market size is calculated at USD 38.64 billion in 2024 and is predicted to hit around USD 60.69 billion by 2034, expanding at a CAGR of 4.62% from 2024 to 2034. Growing demand for carpet tiles is the key factor driving the growth of the market. Also, the implementation of stringent regulations related to carbon emissions along with the increasing recycling of post-consumer carpets can fuel market growth shortly.

Soft Covering Flooring Market Key Takeaways

• North America dominated the soft covering flooring market and contributed the biggest market share of 41% in 2023.
• The Middle East and Africa region is expected to grow at a significant CAGR of 5.51% over the projected period.
• By product, the broadloom segment has held the highest market share of 76% in 2023.
• By product, the carpet tiles segment is projected to grow at a CAGR of 3.62% over the forecast period.
• By application, the residential segment generated the highest market share of 59% in 2023.
• By application, the commercial segment is projected to grow at a CAGR of 3.31% over the studied period.

U.S. Soft Covering Flooring Market Size and Growth 2024 to 2034

The U.S. soft covering flooring market size is exhibited at USD 9.03 billion in 2024 and is anticipated to reach around USD 14.48 billion by 2034, growing at a CAGR of 4.81% from 2024 to 2034.

North America dominated the soft covering flooring market in 2023. The dominance of the segment can be attributed to the increasing penetration of the product in commercial and residential buildings because of the easy installation process and high durability. Furthermore, rising commercial buildings and retail outlets on account of increasing urbanization in countries like Mexico are likely to fuel the expansion of the soft covering flooring market in the region. Growing consumer inclination towards the construction of residential buildings, along with the growing per capita income, can impact market growth significantly.

• In February 2022, Paceline Equity Partners, LLC, the U.S.-based private equity manager, acquired AHF Products, a top hard surface flooring manufacturer.

The Middle East and Africa region is expected to grow at a significant rate over the projected period. The growth of the region can be driven by increasing demand for bleach-resistant, stain-proof, and anti-microbial carpet tiles for utilization in the hospitality industry and healthcare facilities is estimated to propel growth. However, the growing need for a replacement market, mainly from the offices, hotels, and mosques in the Gulf countries, can create lucrative opportunities for the region's market.

Market Overview

The soft covering flooring market covers a wide range of products designed to offer practicality in commercial and residential spaces coupled with aesthetic appeal. The market includes materials like carpet rugs and other flooring options, which are all valued for their ability to improve indoor acoustics and underfoot softness. Consumers increasingly prefer design and comfort in their living atmosphere, driven by innovation in home renovation and interior design.

Soft Covering Flooring Market Growth Factors

• The growth of infrastructure in several industries like healthcare, education, and industrial automotive is expected to boost soft covering flooring market growth shortly.
• The rise in residential construction activities and increasing numbers of homeowners can propel market growth soon.
• Increasing utilization of soft covering materials to improve, interior looks in commercial and residential structures can drive market growth further.

Role of AI in the Soft Covering Flooring Market

AI-powered automated crafted tools play an important role in making designs and allowing customers to visualize how various flooring options will look in a virtual environment. This is possible because of the use of augmented reality (AR) or virtual reality (VR), which allows users to see how some floors appear in their existing decor. Furthermore, In the flooring industry, predictive maintenance uses AI to foresee future failures before they happen. This is vital because the machinery in flooring production, including cutters, presses, and finishing equipment, is highly catering and expensive.

Market Scope

Market Dynamics

Drivers

Increasing usage of soft covering flooring for carpet tiles and broadloom manufacturing.

Soft-covering flooring products are extensively involved in the production of numerous types of products like area rugs and carpets. Broadloom and carpet tiles are smooth covering floorings used for superior characteristics such as dimensional stability and flexibility. Additionally, the increasing need for soft covering flooring to produce broadloom and carpet tiles is anticipated to propel the soft covering flooring market growth in the near future.

• In June 2022, Belgian furniture, acoustic, and lighting company Buzzi Space introduced its first-ever flooring collection, BuzziRugs. In Gold, Seal, Moss, and Jean colorways, the round and rectangular rugs incorporate the brand properties sound-absorption qualities, produced with long thread loops for a soft, silky feel that enables chairs on castors to easily glide over.

Increasing need for multi-story buildings

There is a growing need for multistorey buildings in commercial and residential sectors. The demand for these buildings is driven by the growing population and consumer spending. Likewise, the growth of commercial multistorey buildings is credited to the rapid urbanization and industrialization in developing countries. Furthermore, the government's focus on developing smart cities is expected to fuel the demand for multistory buildings.

• In October 2024, the Government announced the launch of a tender for a site for multi-story buildings for modern industries in Hung Shui Kiu and extended the tender period for the site in Yuen Long. The Government set the open tender for the disposal of a site for Multi-storey Buildings for Modern Industries (MSBs) at Area 39A and 39B, Hung Shui Kiu and Ha Tsuen, Yuen Long, New Territories.

Restraint

Maintenance and durability issues

Soft covering flooring often necessitates more maintenance as compared to hard floors because it can get stained easily and may harbour allergens. Hence, these concerns regarding maintenance can prevent some customers from choosing soft flooring, which can hamper the market growth. Moreover, price sensitivity among customers can influence the demand for soft covering flooring, especially in economically difficult times.

Opportunities

Surge in commercial usage and tourism expansion

The increasing demand for innovative designs and styles from end commercial applications is expected to fuel the demand for soft-covering flooring. The expansion of the commercial replacement market can also stimulate the growth of the soft covering flooring market. Furthermore, the growing tourism and hospitality industries, along with the rising investments in the real estate sector, can generate lucrative opportunities in the market over the forecast period.

• In July 2023, -Rainier Partners, a private equity firm investing in lower middle-market services businesses, announced its investment in SCI Flooring (SCI), a top full-service floor-covering services provider serving property managers and owners in the Midwest with the opportunity to grow market share in an expanding fragmented industry.

Increasing demand for customization and personalization

There is a new trend towards the provision of customized soft-covering flooring solutions to consumers. Customers increasingly search for personalized textures and colors that reflect their special style prompting producers to provide more specific options. Also, the utilization of smart technologies in the market is an emerging market trend driving market growth.

Product Insights

The broadloom segment dominated the soft covering flooring market in 2023. The dominance of the segment can be attributed to the increasing implementation of broadlooms because of its key features like moisture resistance properties. Additionally, the superior aesthetics offered by broadloom flooring are anticipated to boost the segment growth further. Broadloom is the most popular and conventional carpeting choice in both commercial and residential sectors.

• In August 2023, Artisanal carpet/broadloom and area rug designer and custom flooring specialist Kaleen updated its product offering and service options with a new business model to launch in time for the upcoming High Point Market. The new strategy emphasizes the company's better and best-tiered products, as well as its customization capabilities.

The carpet tiles segment is expected to grow at a significant rate in the soft covering flooring market over the forecast period. The growth of the segment can be linked to the ease of replacement and rotation offered by the carpet tiles made of nylon, linoleum, polypropylene, and other synthetic fibers. However, carpet tiles stimulate access to subfloor air delivery systems and electrical and computer wirings with lower disruption; hence, its demand is rising. Carpet tiles also remove the bad appearance and damage caused by conventional carpet cutting during connections and disruption.

• In May 2024, Interface, a global commercial flooring company, launched its Embodied Beauty collection, which provides a variety of carpet tile designs inspired by and manufactured to respect nature. All seven styles of Embodied Beauty are carbon neutral across their life cycle through the Carbon Neutral Floors program.
• In March 2022, flooring brand Signature Floors unveiled its Vivid 202 collection of carpet tiles to provide flooring designers "a kaleidoscope of colors. The Vivid 202 collection is made up of 202 different color finishes created by Signature Floors for creative flexibility and freedom of choice.

Application Insights

In 2023, the residential segment led the soft covering flooring market by holding the largest market share. The dominance of the segment can be credited to the growing refurbishing and replacement activities along with the surge in production. Furthermore, the increase in the number of nuclear families globally is anticipated to propel the demand from the residential segment during the projected period. Most nations around the world have exhibited an innovative trend in existing structures to reduce the building's energy consumption.

• In October 2024, Hindware's Italian Collection Tiles launched an Opulent New Era with the announcement of Over 400 Exquisite Premium Designs. The portfolio extension is Hindwar's commitment to innovation and excellence, which is designed to fulfill the demand for sophisticated tiles.

The commercial application segment is estimated to grow at a significant rate over the studied period. The growth of the segment can be driven by the increasing demand for products from health care, retail facilities, education, airports, and offices. Moreover, the increasing demand for advanced designs and styles from the high-end commercial domain and the surge in the commercial replacement market are anticipated to facilitate the growth of the soft covering flooring market.

Soft Covering Flooring Market Companies

• Mohawk Industries, Inc. (U.S.)
• Shaw Industries Group Inc., (U.S.)
• Tarkett (France)
• Forbo Management SA (Switzerland)
• BASF SE (Germany)
• Gerflor (France)
• Interface Inc., (U.S.)
• Beaulieu International Group (Belgium)
• Sika India Pvt. Ltd. (Switzerland)
• Fosroc Inc., (U.K.)
• Dow (U.S.)
• Arkema S.A. (France)
• Ashland Inc. (U.S.)
• Mapei S.p.A (Italy)
• MUHU (China)
• Construction Materials Co., Ltd. (China)
• Holcim (Switzerland)
• TOLI Corporation (Japan)
• SOLVAY (Belgium)
• Milliken (U.S.)

Recent Developments

• In June 2022, Mohawk Industries, Inc. entered into an agreement to buy the Vitromex ceramic tile business from Grupo Industrial Saltillo for approximately US$ 293 Mn in cash.
• In April 2022, Blanchon Group acquired RIGO, a company catering to the design and production of finishing products for wood and paints for heritage buildings.

Segments covered in the Report

By Product

• Carpet Tiles
• Broadloom

By Application

• Residential
• Commercial

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa