After achieving strong growth of 4% in 2015, growth rates in the contract floorcoverings market were slightly disappointing in 2016 and 2017, according to the latest statistics from AMA. A number of factors had a negative impact on the market, including increasing inflation towards the end of the period and adverse currency movements as an indirect result of the Brexit vote, affecting imports. However, despite reduced growth rates, the value of the contract flooring market exceeded £1bn in 2017. The contract sector accounts for around half of the total floorcoverings market, and its share continues to increase.
There has been only modest change to the product mix in this sector recent years. Carpet has decreased in share marginally, mainly reflecting a growth in vinyl flooring, which is now the second largest product group. The growth of vinyl has been underpinned by the increased specification of safety flooring and the more recent trend for luxury vinyl tiles to be installed in the retail and office sectors. The medium-term outlook is for similarly modest changes to the product mix, with carpet expected to continue to lose share marginally to vinyl products and floor tiles in the period to 2022.
Going forward, the outlook for the overall floorcoverings market is generally optimistic, although forecasts have been lowered recently, mainly resulting from the uncertainty affecting the Brexit negotiations, and over the next five years, growth rates of 2 to 3% are forecast in the market. Positive factors impacting the market include opportunities for new build and RMI work in the health and education sectors.
The Contract Floorcoverings Market Report – UK 2018-2022, published by AMA Research, is available now and can be ordered online at www.amaresearch.co.uk or by calling 01242 235724.
Online bathroom retailer Bathroom Takeaway is set to invest £1.35 million in its UK business with a focus on growing...Continue Reading
The 147 leading companies in the Italian ceramic tile manufacturing sector generated a turnover of more than Euro 5.4 billion...Continue Reading