Floorcoverings market shows steady improvement
New research has shown that the UK floorcoverings market grew by 2% to be worth an estimated £1.8 billion in 2014.
The market has shown a steady improvement in recent years after a decline between 2008 and 2011.
According to AMA Research, the increase in 2014 was a result of an improving economic climate, a recovering housing market and a rise in business confidence and levels of investment. The sector was also buoyed by demand from the contract sector and by insurance repairs after floods in some areas of the UK.
The research shows that carpet still dominates the floorcovering product mix and accounted for over 50% in value terms in 2014. Wood accounted for around 15% of the market, followed by vinyl, tiles and other floorcoverings.
Demand for laminates remained relatively flat while solid and engineered woods remained popular. Vinyl products performed relatively well with luxury vinyl tiles continuing to take share of both the domestic and contract market.
Annual growth for the total floorcoverings market is currently forecast at around 2-3% over the next few years.
Andrew Hartley, director of AMA Research, said: “Heavy competition is likely to remain a key characteristic of all flooring sectors into the medium-term, with margins likely to remain under pressure.
“In terms of the supply structure, it is likely that UK manufacturing will be subject to further challenges in terms of production facilities, while in the wider European flooring market there is likely to be further consolidation as the emerging floorcoverings ‘super specialists’ continued to widen their product ranges.”
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