Flooring Demand in China to Grow 4% Annually through 2020

2018-11-30 15:49:38

Demand for floor coverings in China is forecast to rise 4% per year to 5.2 billion sq m in 2020, according to a recent report from the Freedonia Group. This rate is reportedly a deceleration from the 2010-2015 period, but still among the fastest in the world. Building construction spending is projected to decelerate significantly from the double-digit annual growth posted between 2010 and 2015, though gains will still remain solid, boosting floor covering demand. Motor vehicle production is also expected to post strong growth, further contributing to demand increases. Additionally, rising personal incomes will allow consumers to purchase higher-end floor coverings that were previously unaffordable.

In 2015, non-resilient flooring was the most popular floor covering in China, accounting for 85% of demand. Ceramic tile is the most frequently used floor covering. Carpets and rugs represented 8% of floor covering demand in China in 2015, with resilient flooring accounting for the remaining 7%.

Through 2020, the fastest demand growth in China is expected in non-resilient flooring. Laminate flooring, in particular, is expected to post solid gains due to its low cost compared to many other non-resilient flooring types. Demand for carpets and rugs will post the next-fastest growth, benefiting from increasing motor vehicle production in the country. Resilient flooring demand gains will post the slowest, though still strong. These products benefit from their typically lower cost, which makes them an attractive option to many homeowners.

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