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(MoneyNewsWire.Net, July 25, 2018 ) The floor coverings manufacturing market comprises all firms engaged in producing and wholesale distribution of carpets, and other forms of soft and hard surface floor coverings including rugs and sheets. Carpet and rug mills produce woven, tufted, needle punched carpets and rugs or finishing carpets and rugs. The products include floor mattings, needle punch carpets, art squares, and door mats.
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The global floor coverings market was valued at $34 billion in 2017. Among regional markets, Asia Pacific was the largest geographic region accounting for more than half of the global market. The reason for the substantial growth of the market is that the demand for vinyl flooring has expanded from commercial spaces to residential spaces as it is available with better designs and more realistic looks. Realistic tiles and planks mimicking natural looks are being developed using advanced technology which creates better substitute for the regular traditional wood or stone floorings. For example, Mannington Mills Inc. manufactures and markets a wide range of floor coverings.
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China was the largest country in the market, accounting for one-fifth of the global floor coverings market. This is partially due to high presence of fabrics and apparel manufacturing facilities in China, which consume textiles as raw materials. China was followed by India and Japan as the next largest countries in the market.
The top five competitors in the market are Armstrong followed by Tarkett Group, Mohawk Industries Inc., Shaw Industries Group Inc. and Gerflor. Armstrong is an industry-leading manufacturer of innovative flooring products focusing on design, performance and durability for the home and commercial applications.
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