August 24, 2022 04:18 ET | Source: Research and Markets Research and Markets

Dublin, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The "Indoor Flooring Market By Type, By Construction Type, By End-User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering. The indoor flooring market size was valued at $133,288.0 million in 2021, and is projected to reach $226,305.0 million by 2031, registering a CAGR of 5.4% from 2022 to 2031.

Indoor flooring materials are building materials used to construct floors in residential, commercial, and industrial buildings. Indoor flooring is installed during the construction of a new building or the renovation of an existing structure. Indoor flooring improves the infrastructure's interior.

Indoor flooring is offered in a wide range of materials, colors, and shapes. The fast growth of the population, combined with the construction of new business centers, such as offices, factories, warehouses, sports complexes, hospitality, and healthcare, has prompted the deployment of compact and efficient decor system.

The restoration business continues to benefit from a strong housing market, which includes rise in home building, sales, and equity. Moreover, the rising expenditure by governments and private construction companies in remodeling and repairing of houses has created demands for indoor flooring products and hence such factor will drive the market growth.

Moreover, according to a Harvard Joint Centre for housing studies article published in January 2021, the growth of house remodeling and repair expenditures has increased from 3.5% in 2020 to 3.8% in 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA).

In addition, various governments are investing in the residential sector in response to the rise in population and improved living conditions. Several incentive schemes for efficient residential structures and refurbishment were modified and relaunched at the start of 2021 to help fulfil these goals. As a result of the increase in population, these expenditures in the building sector are expected to enhance the use of indoor flooring, resulting in market growth.

Key findings of the Study

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