The carpet tiles segment is anticipated to witness the highest growth rate, owing to their characteristic of providing easy access to telephone, electrical, computer wirings, and other sub-floor delivery systems, while having minimum operation disruption. These aspects will lead to higher product demand. They also provide elimination of any damage or unsightly appearance of the floor, which are usually associated with carpet and tiles cutting during the fitting of telephone and electric wires.
There has also been an increase in the construction of various commercial spaces such as airports, retail spaces, healthcare facilities, and other similar public-access buildings, which will lead to the rise in the demand for carpet tiles during the forecast period. The Middle East’s soft flooring market is anticipated to grow at a relatively higher growth rate, owing to the rapid development of the construction industry in this region. Furthermore, there has been a rise in demand for anti-microbial, bleach resistant, and stain-proof carpet tiles from this region, which will further propel the market growth.
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Impact of COVID-19
The pandemic has pushed the world into recession. The global economy was already into a slowdown in the year 2019 as major economic trade powers were implying protectionist policies. However, the pandemic has ensured global lockdown practices, significantly impacting the international trade movement, consumer income, and real estate projects, further hampering the market growth.
Soft Flooring Market: Segmentation
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now