Steady Growth Forecast For Soft Covering Flooring

In 2020, amid the COVID-19 crisis, the global market for soft covering flooring was estimated at US$86.9 billion. It is projected to reach $108.6 billion by 2027, growing at a compound annual growth rate (CAGR) of 3.2 per cent over the forecast period, says a report by Research and Markets. Broadloom is projected to grow at a CAGR of 3.1 per cent during the forecast period to reach $78.6 billion by 2027; growth in the carpet tiles segment is forecast to grow at CAGR of 3.6 per cent. Soft covering flooring is expected to grow at 2.6 per cent in Canada through 2027.