Global Flooring Demand Forecast To Grow 4.5% Annually

New York, NY, Jan. 22, 2015 -- Global demand for flooring through 2018 is forecast to advance 4.5% annually to 19.4 billion square meters, valued at $325 billion, according to market research firm The Freedonia Group.

Growth represents an improvement from the rate of the 2008-2013 period due to an expected rebound in housing construction in many higher income countries, including the U.S. and some in Western Europe, Freedonia said.

In less developed countries, flooring and carpet demand will benefit from continued strong growth in building construction activity and rising per capita incomes that will allow households to purchase more expensive floor coverings.

Residential buildings constitute the largest market for floor coverings, accounting for 57% of sales in 2013. Nonresidential buildings made up 37% of demand, while transportation and other markets represented the remainder.