Fiberglass Flooring Market is expected to show a significant growth during the forecasted period

(EstateNewsWire.com, October 12, 2017 ) Fiberglass is utilized as a backing material in various vinyl flooring products, such as vinyl composite tiles, vinyl sheets, and luxury vinyl tiles as well as inexpensive and easy to install. Fiberglass Flooring is one of the most popular building materials. Different resins such as polyester resin and vinyl are added to fiberglass for strength as well as they help in its molding into various shapes. Fiberglass offers more cushioning and improves the feel of the floor. Moreover, this type of flooring is installed without glue and is impervious to upward twists. The expanding manufacturing sector and the rapid proliferation of commercial buildings are pushing the market towards growth. Moreover, factors such as low maintenance and anti-allergen are expected to spur the demand for these product in the forecasted period.

The market has been analyzed based on applications and end use in the regions of North America, Europe, APAC and rest of the world. On the basis of application, it includes residential, and non-residential. Commercial segment shows largest market share due to properties such as easy maintenance and fixing. The growing requirement for office buildings, shopping malls, hotels, hospitals and theme parks will drive the demand for Fiberglass Floorings in the commercial sector. Geographically, the worldwide industry is segmented into Asia Pacific, North America, Europe and Rest of the World. The scope of the market has widened over many years owing to the flourishing markets of Asia-Pacific.

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Market Highlights:
The Global Market of Fiberglass Flooring is growing rapidly. Easy availability and potential to withstand longer period of time are some of the factors driving the market of fiberglass flooring. Moreover, Fiberglass Flooring is resistant to stain and scratch and is also considered one of the flooring types that can be installed with releasable glue or even without glue in some cases. Moreover, rising government spending towards improving education infrastructure through implementation of new schemes such as Padhe Bharat Badhe Bharat, is expected to have a strong impact on the market. Fiberglass flooring production, is consequently high in Asia-Pacific, with China, and India are expected to be the most promising markets.
The main driving forces of the Asia-Pacific fiberglass flooring market include improved standard of living in developing economies with hygiene requirements and growth in spending capacity.

Commercial will be the Largest Segment:
Flooring is one of the essential parts of any household or commercial structure. Installation of new and innovative products in commercial and residential spaces, has significantly driven commercial flooring. Use of Fiberglass Floorings in residential, commercial, and industrial applications attributes to the product’s sturdiness and long lifespan. Moreover, rapid commercialization and the expansion of workspaces have led to its increased commercial end-use. The industrial construction sector is expected to witness substantial gains on account of increasing facility expansion by manufacturing companies. Other factors such as high income levels, favorable government initiatives, and population growth may boost market growth in the forecasted period.

Market Research Future Analysis:
Easy maintenance and lower noise levels than wood flooring are other factors that boost the market whereas, disposal of waste, environment & health related issues and fluctuating prices of raw materials are some of the restraints of the market of the Fiberglass flooring.

Currently, Asia-Pacific is leading the market of Fiberglass Flooring. Moreover, favorable government initiatives to reduce greenhouse gas emissions and promote energy efficiency, rise in the number of building construction activities and commercialization in emerging economies such as China and India have been the primary growth factors for the flooring market here. Furthermore, the demand for flooring is the highest in the region due to infrastructural development in commercial, industrial, and residential sectors. The growing demand for flooring for installing in commercial complexes, is further expected to the fuel the growth of the Fiberglass Flooring Market in the future.

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