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Floor Covering - ASEAN

ASEAN
  • In 2024, the Floor Covering market in ASEAN generates a revenue of US$290.20m.
  • It is projected to experience an annual growth rate of 3.67% (CAGR 2024-2029).
  • When compared to other countries worldwide, United States leads the market, generating a revenue of US$6bn in 2024.
  • Taking into account the total population, per person revenues amount to US$0.42 in 2024.
  • In the ASEAN market, Indonesia has seen a surge in demand for sustainable and eco-friendly floor coverings.

Definition:

The Floor Covering market is centered on the need to cover floors with certain materials that provide, first and foremost, a visually appealing aesthetic to a room while also adding comfort. This market focuses on parquet panels that are typically made from hardwood such as oak, maple, or cherry and are sold in various forms such as solid or engineered hardwood. Parquet panels are characterized by a focus on durability, natural beauty, and design versatility making it a popular choice among homeowners and designers.

Additional Information:

The market comprises revenue and average revenue per capita data. Revenue refers to B2C sales and per capita figures take into account the whole population. Previously, this market included the Parquet Panel segment and Carpet & Rugs segment. The Carpet & Rugs segment now falls under our newly created Home Decor segment within the Furniture market. Therefore, this market only considers parquet panels but more segments will be added soon. For more information on the displayed data, click the info button on the right hand side of each box.

In-Scope

  • Parquet Panels

Out-Of-Scope

  • Carpet
  • Laminate
  • Tile
  • Vinyl
  • Installation services
Floor Covering: market data & analysis - Cover

Market Insights report

Floor Covering: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The ASEAN nan DIY & Hardware Store Market is facing negligible growth due to factors such as limited consumer awareness and preference for traditional methods. Online services and digital technologies have yet to gain significant traction in the Floor Covering Market.

    Customer preferences:
    Increase in demand for environmentally-friendly and sustainable flooring options is a noticeable trend among consumers in the Floor Covering Market within the DIY & Hardware Store Market. As awareness around environmental impact and sustainability grows, customers are seeking out products that are ethically sourced and have a minimal carbon footprint. This shift is also impacted by changing demographics, as younger generations tend to prioritize sustainable options in their purchasing decisions. DIY and hardware stores are adapting by offering a wider range of eco-friendly flooring materials to cater to this growing demand.

    Trends in the market:
    In the DIY & Hardware Store Market in ASEAN, the Floor Covering Market is experiencing a rise in demand for sustainable and eco-friendly flooring options. This trend is driven by increasing awareness and concern for the environment, as well as government regulations promoting sustainable development. As a result, DIY and hardware stores are expanding their product offerings to include more eco-friendly flooring options, such as bamboo and cork. This trend is expected to continue, as consumers become more environmentally conscious and seek out sustainable products. This presents an opportunity for industry stakeholders to differentiate themselves and cater to the growing demand for eco-friendly options. Additionally, it highlights the importance of staying up-to-date with changing consumer preferences and adapting to market trends.

    Local special circumstances:
    In ASEAN, the Floor Covering Market within the DIY & Hardware Store Market is influenced by the region's diverse cultural and geographical factors. In Indonesia, the largest market in the region, traditional woven floor coverings such as batik and songket remain popular, while Singapore has a growing demand for eco-friendly and sustainable flooring options. Additionally, regulatory efforts to promote sustainable and environmentally-friendly building materials in Thailand and Malaysia have also influenced consumer preferences in the Floor Covering Market.

    Underlying macroeconomic factors:
    The DIY & Hardware Store Market in ASEAN has been heavily impacted by macroeconomic factors such as economic growth, inflation rates, and consumer purchasing power. The overall economic health of ASEAN countries, as well as global economic trends, have a major influence on the Floor Covering Market within the DIY & Hardware Store Market. Additionally, fiscal policies, government regulations, and financial indicators such as interest rates and exchange rates play a crucial role in shaping market performance. Countries with strong economic growth and stable fiscal policies are likely to experience higher demand for floor covering products in DIY and hardware stores, due to increased consumer purchasing power and willingness to invest in home improvement projects. On the other hand, countries with economic instability, high inflation rates, and unfavorable fiscal policies may experience slower market growth and limited consumer demand.

    Methodology

    Data coverage:

    Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

    Modeling approach / Market size:

    Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

    Additional Notes:

    The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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