- THE MAGAZINE
According to a recent study by The Freedonia Group, Inc., hard surface flooring is in the midst of a revival – so much so that it’s expected to increase in demand by 5% to total about 9.3 billion square feet and encompass a $13.8 billion market by 2017.
The reasons for this revival? According to Freedonia, it’s due to rebounding building construction and strong consumer interest in alternatives to carpeting.
Here are some highlights from the study:
- All about vinyl: Vinyl flooring is expected to see the biggest gains through 2017 due to its durability and performance properties. Luxury vinyl tile can also resemble wood or stone at a lesser price.
- The overall hard surface flooring demand decreased by 2.4% from 2007-2012, helped in large part to the slowdown of construction in the midst of the recession.
Additionally, while the Freedonia study didn’t note this, the increase in hard flooring will also likely lead to an increase in area rugs, as the two seem to go hand-in-hand. We did a feature on rug washing in the March ICS where we noted that there are perhaps more area rugs on the planet today than there have ever been before. That quantity will likely only increase with the rise of hard flooring.