According to the recent research report titled ‘Global Modular Flooring Market Size study, By Product Type (Flexible LVT, Rigid LVT, Carpet Tile, Polyolefin (Non-vinyl), Rubber, Ceramic, Others), By End-Users (Workplace, Healthcare, Education, Retail, Household, Others), and Regional Forecasts 2022-2028’ available with MarketStudyReport, global modular flooring market accounted for USD 54.60 billion in 2021 and is poised to reach USD 81.20 billion by the end of the forecast period, expanding at CAGR 5.8% through 2028.

The main factors driving the growth of global modular flooring market are the rising renovation and remodeling activities, the growing interest of consumers in interior decoration, the expansion of the organized retail sector, rising disposable income, and rising investments in the construction vertical.

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There are many different types of tiles that can be combined skillfully to create modular floors. This flooring solution can be installed directly over an existing surface without the use of glue or anchors. Moreover, these floors are known to be practical, quickly demountable, and suitable for further uses such as elevated floor systems, vinyl flooring, and modular carpet among others.

However, a rise in environmental concerns and volatile raw material prices are likely to impede the overall market growth over the forecast period of 2022-2028.

Worldwide modular flooring market space is segmented into product type, end-users, and regional terrain. In terms of product type, the market is divided into flexible LVT, carpet tile, rigid LVT, ceramic, polyolefin, rubber, and others.

By end-users, the market is segregated into the workplace, education, healthcare, retail, household, and others.

The regional terrain of global modular flooring marketplace spans Asia Pacific, North America, Europe, Latin America, and the rest of the world. Europe market is expected to witness a significant growth rate through the forecast duration, due to rising disposable income and growing activities in the construction sector.

The competitive arena of the global modular flooring industrial vertical consists of key players like Mohawk Industries Inc., Milliken & Company, Shaw Industries Group, Inc., Toli Corporation, Tarkett Corporation, Beaulieu International Group, Armstrong Flooring Inc., Forbo Holding AG, Mannington Mills Inc., and Gerflor Group.