Contract Floorcoverings Market Estimated Growth of 9%
The contract floorcoverings sector tends to be less volatile than the domestic market, benefiting from a wide range of end-use applications and the increasing use of different types of floorcoverings used within a single installation. However, both sectors have been suffering from the uncertainty caused by the ongoing Brexit negotiations and volatile world trade conditions, with forecasts currently being downgraded in many areas of the UK economy. There is now the added pressure coming from the many delayed projects resulting from the Covdid-19 outbreak. Even where certain sites are still operational – hospital construction for example – the main issues that still may occur due to Covid-19 are that of supply of materials, with several sites stating they expect to run out of materials and products over the next 1-2 months.
We have been able to see modest growth in recent years; this is partly down to the development of many higher specification specialist materials that are more often than not aimed at end-use sectors but have the ability to cross over where budgets allow. We saw the growth of this mature market measured at 8% for the period between 2015-2019.
In regards to the development of specialist materials we have seen many design and production advances in recent times. These have led to increasingly realistic reproductions of textures and surfaces and has specifically assisted with resilient flooring. One of the key aspects that has underpinned the value of such developments are the different applicational uses, for example vinyl manufacturers which were the early pioneers of specialist materials of flooring for the health, education and leisure sectors. This has been improved upon where now many contract floor suppliers are able to offer product ranges with a variety of performance characteristic, such as stain resistant carpeting for care homes and hospital wards, anti-static and static dissipative vinyl and tuber for use in laboratories, operating theatres and clean rooms to name a few.
UK manufacturing remains under pressure from larger international floorcoverings specialists. Steady but modest overall growth of around 9% is forecast to 2024 with the market value reaching £1.13bn. However, we will need to see where the economy stands once the global Covid-19 pandemic eases.