Fiberglass Flooring Market - Forecast(2024 - 2030)

Fiberglass Flooring Market Overview

Fiberglass Flooring Market is expected to be valued at $1.2 billion by the end of the year 2026 after growing at a CAGR of 7% during the forecast period from 2021-2026. The growing construction sector is the major factor driving the growth of fiberglass flooring market. Fiberglass helps in facilitating easy and quicker installation of flooring, which is also contributing to the increase in demand for fiberglass flooring. Rapid expansion in various industries coupled with capacity addition in these industries is also hugely driving the fiberglass flooring market. Fiberglass flooring such as vinyl composite tiles and vinyl sheets are easy to be installed, do not get affected by temperature changes, and do not require any permanent adhesives to be stuck on. These are some of the major advantages and properties that are contributing to the growth of the fiberglass flooring market.

COVID-19 Impact

Amid the Covid-19 pandemic, there has been a sudden decrease in the demand for the fiberglass flooring market, owing to the slowdown and closing of many economies. The production and supply chain management of the fiberglass flooring market has been hugely impacted. With the reviving of many economies towards the end of the year 2020, the fiberglass flooring market is set to witness a gradual increase in the year 2021.

Report Coverage

The report: “Fiberglass Flooring Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Fiberglass Flooring Industry.

By Product Type: Vinyl Tiles, Vinyl Composite Tiles, Vinyl Sheet, Vinyl Planks, Interwoven Vinyl Tiles and Others.
By Form: Carpet, Lamination, Tiles & Stones, Modular Flooring, Carpet Rolls and Tracks.
By Application: Sporting Floor, Anti-Microbial Floor, Flooring in Aircrafts, Insulation activities, Surface Coating, Cladding and Others.
By End-Use Industry: Residential construction, Commercial construction and Industrial construction.
By Geography: North America, South America, Europe, Asia-Pacific, and Rest of the world.

Key Takeaways

• Asia-Pacific market held the largest share in the fiberglass flooring market owing to the increase in usage of fiberglass for flooring purposes in the construction industry. 
• The increase in demand for commercial spaces such as malls, theatres, leisure centers etc., are also hugely driving the fiberglass flooring market.
• The rapid expansion and capacity addition in various industries is also driving the fiberglass flooring market.

FIGURE: Fiberglass Flooring Market Drivers Revenue, 2020-2026 (US$ Billion)

For More Details on This Report - Request for Sample

Fiberglass Flooring Market Segment Analysis – By Product Type

Vinyl Composite Tiles segment held the largest share in the fiberglass flooring market in the year 2020 growing at a CAGR of 6.8% during the forecast period 2021-2026. The growth of vinyl composite tiles can be linked to the increasing adoption of these tiles in commercial spaces such as offices, wellness centers, leisure centers, hospital facilities, malls, theaters etc., The reason for the preference of vinyl composite tails is due to the ease of maintenance, high longevity, low environmental impact and high stability. These benefits offered by the vinyl composite tiles is the major factor driving the vinyl composite tiles segment.

Fiberglass Flooring Market Segment Analysis – By Form

The Lamination segment held the largest share in the fiberglass flooring market in the year 2020. Laminated flooring is gaining momentum in the recent days owing to the increase in adoption of installing laminated vinyl flooring in commercial spaces like malls, theaters, offices, hospitals, etc., Laminated flooring is water-resistant, easy to maintain, easy to install and is also cost effective. Laminated vinyl flooring/ vinyl sheets also enhance the appearance of the facility, giving it a rich look. The enhanced look coupled with the various benefits offered by the laminate vinyl flooring/vinyl sheets is the main reason behind the growth of laminate vinyl flooring/vinyl sheets segment.

Fiberglass Flooring Market Segment Analysis – By Application

Sporting floor segment held the largest share of the fiberglass flooring market in the year 2020 growing at a CAGR of 7.2% during the forecast period 2021-2026. Vinyl flooring is most preferred in sporting facilities owing to the properties of vinyl sheets floor such as high weight tolerance, waterproof and easy to maintain. Vinyl flooring/viny sheets are also typically affordable compared to other types of flooring. Additionally, fiber-reinforced plastic is also widely preferred for flooring activities in such spaces due to their superior thermal resistance, tensile strength and fatigue resistance properties. Fiber-reinforced plastic is also resistant to changes in the temperature and humidity, and does not deteriorate with the change in the temperature. Fiber-reinforced plastic flooring solutions is also highly preferred in many leisure and recreational facilities due to the various advantages offering.

Fiberglass Flooring Market Segment Analysis – By End-Use Industry

Commercial construction held the largest share in the fiberglass flooring market in the year 2020. The increase in the requirement for commercial spaces is driving the growth of the commercial construction sector. The changes in the lifestyle of the people across the globe has led to the increase in demand for recreational facilities, leisure facilities, entertainment facilities etc. For an instance, the market size of amusement parks in the US is $3000 million and UK is $1324 million and the market size of sports facility in US is $30 billion and in UK is $8 billion which shows the increasing trend for the growth of commercial spaces.

Fiberglass Flooring Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of 30% in the fiberglass flooring market in the year 2020. The growth in the commercial construction sector in countries like China, India and South Korea is driving the growth of fiberglass flooring market in the region. Asia pacific region is expected to account for 46% of the total global commercial construction spending. The increase in demand for recreational facilities, leisure facilities, offices and other commercial spaces owing to the changes in the lifestyle and the living standards of the people is hugely driving the fiberglass flooring market.

Fiberglass Flooring Market Drivers

Growing construction sector

The growth in the construction sector in the recent days is driving the demand for fiberglass flooring market. For an instance, the commercial construction sector has grown up to 9% in the year 2019 in the US. The estimated growth of global construction sector in the year 2020 is 3.1%. The increasing demand for various infrastructures and facilities owing to the changes in lifestyles and technology up gradation has driven the fiberglass flooring market hugely. Furthermore, the advantages offered by fiberglass flooring market such as easier maintenance, low cost and damage resistance is making it a preferred type of flooring in many commercial spaces. This is one of the major factors driving the fiberglass flooring market. 

Capacity addition in various industries

The increase in capacity addition in various industries for warehousing, assembling products, etc., has driven the need and demand for fiberglass flooring market. The increase in need for storing inventories and facilitating smooth delivery and transfers of stock has increased the demand for increasing the capacity facilities, which in turn has led to the increase in demand for fiberglass flooring market. Fiberglass flooring is very suitable for temporary set ups since they can be laid easily and also removed easily. 

Fiberglass Flooring Market Challenges

Difficulty in sourcing raw materials

The primary raw materials used for manufacturing fiberglass include epoxy resins, polyester resins, and glass fibers. These raw materials are sourced from carbon compounds and petroleum. But it is also difficult to be sourced and the process is very complex and lengthy. Therefore, this makes fiberglass expensive owing to the complex manufacturing process and technology, which is one of the biggest challenges to the fiberglass flooring market.

Fiberglass Flooring Industry Outlook

Acquisitions and mergers, new product launches, expansions, collaborations and investments are some of the key strategies adopted by players in the Fiberglass Flooring Market. Major players in the Fiberglass Flooring Market include:

1. Milliken
2. Shaw Floors
3. Gerflor
4. Tarkett
5. Mannington Mills
6. NOX Corporation
7. Armstrong World Industries
8. IVC Group
9. Interface Inc.
10. Nora Systems among others.

Acquisitions/Technology Launches

• On November 27, 2019, Phenix Flooring, Pharr Fibres and Yarnn from Pharr, US was acquired by Manning Mills. The goal of the acquisition was to integrate the technology and aesthetics of the involved companies and strengthen the position of Manning Mills in the US. 

Relevant Reports:

Fiberglass Roving Market – Forecast (2021 - 2026)
Report Code: CMR 60278

Fiberglass Mold Market– Forecast (2021 - 2026)
Report Code: CMR 14907

Fiberglass Pipes Market – Forecast (2021 - 2026)
Report Code: CMR 66368

For more Chemicals and Materials related reports, please click here