According to a research report titled ‘Global Carpet Tile Market Size study, by Product Type (Square, Rectangle), End user Type (Residential, Commercial), by Distribution Channel (Offline Stores, Online Stores ), and Regional Forecasts 2020-2027’, available with Market Study Report, global carpet tile market is anticipated to register a compound annual growth rate of 4.5% during 2020-2027.
 

Report findings state that increasing preference for creative and high-end architectural offices and commercial buildings owing to real-estate growth, restoration for old buildings, and rising trend of matching designer floors with office interiors are stimulating worldwide carpet tile market growth.
 

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In addition, technological advancements by market majors to make tile installation easier, and develop new products, such as rust resistant tiles which are easy to clean, is boosting the overall market remuneration scope. For instance, in January 2019, Tapibel unveiled a line of tiles with the brand name 'INCATI,' which stands for 'Innovative Carpet Tiles', that include a variety of tiles with sound suppression technology capable of containing sound by up to 30% on the basis of installation and location.
 

Furthermore, high product demand from hospitals due to patients’ requirement for a quiet atmosphere is also anticipated to spur global carpet tile market development in the upcoming years.
 

For those unversed, carpet tiles are a part of the soft covered flooring and are available in a variety of styles, colors, and textures to meet industry demand and trends. Carpet tiles are easier to build as compared to conventional tiles and can be used in place of rolled carpets in commercial buildings such as classrooms, airports, libraries, and corporate offices.
 

Elaborating on the obstacles prevailing in global carpet tile market, stringent laws regarding carbon emission rates and waste disposal are likely to impede the revenue flow of businesses in the ensuing years.
 

From a regional frame of reference, the research literature covers the key regional contributors, namely,  Asia Pacific, Europe, Latin America, and North America. Among these, North America captured a substantial market share in the recent years. This can be attributed to the widespread expansion of the construction and housing industry across the region.
 

Meanwhile, Asia Pacific is slated to garner a robust compound annual growth over the forecast period, due to increasing infrastructure development projects and growing construction activities throughout the region.
 

Major contenders in global carpet tile market space are Foss Manufacturing Company LLC, Shaw Industries Group Inc., Tarkett S.A., Interface Inc., Dixie Group Inc., Mannington Mills Inc., Beaulieu International Group N.V., Bentley Mills Inc., Mohawk Industries Inc., and Abbey Carpet Co. Inc.