GCC Flooring Market Report, Industry Overview, Growth Rate and Forecast 2024

NEW YORK - Jan. 6, 2020 - PRLog -- According to latest report by IMARC Group, titled "GCC Flooring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", finds that the GCC flooring market size reached US$ 11.3 Billion in 2018. Flooring refers to a finished layer that provides a clean, durable and impervious leveled surface. It generally consists of two main components, namely the floor base and floor covering. The floor base offers support to the floor covering, which includes a layer of materials such as marble, tiles or mosaic. The GCC countries are currently experiencing increased participation of the private sector with an enhanced focus on sustainable economic growth and expansion of non-oil industries.

GCC Flooring Market Trends:

An increasing number of construction projects is one of the key factors driving the flooring market in the GCC region. Furthermore, owing to the growing inclination for aesthetically appealing interiors in various sectors, especially corporate and hospitality, there is a rise in the demand for premium quality products for interior designing. This has prompted the leading flooring companies in the GCC region to offer ergonomic, sound-absorbent and stain- and slip-resistant flooring solutions. These specialized flooring solutions improve safety and comfort while maintaining the aesthetics of the floor. Moreover, the increasing usage of eco-friendly flooring products by manufacturers, coupled with the growing environmental consciousness among consumers in the region, is also driving the market. The development of new technologies to update and expand flooring products and their system build-ups is also providing a positive thrust to the growth of the market. Other factors such as enhanced product features including digitally printed tile designs and the availability of a wide variety of colors are also contributing to the market growth. Looking forward, the market value is projected to reach US$ 17.2 Billion by 2024, at a CAGR of 7.3% during 2019-2024.

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Insights on Market Segmentation:

Market Breakup by Segment

1. Hard Flooring

2. Soft Flooring

Market Breakup by Flooring Type

1. Tile Flooring

2. Stone Flooring

3. Wood and Laminate Flooring

4. Carpet Flooring

5. Other Flooring

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/gcc-flooring-market

Market Breakup by End-Use Sector

1. Commercial

2. Residential

Market Breakup by Region

1. UAE

2. Saudi Arabia

3. Qatar

4. Oman

5. Bahrain

6. Kuwait

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