Carpet tiles also known as carpet squares form a significant portion of soft flooring industry. Carpet tiles are modular sections of carpet typically cut into squares or rectangles. Demand for carpet tiles is strongest in the corporate and institutional sectors. It is also gaining share in the retail, healthcare, educational, institutions and sports segments. Given its specific features like design flexibility, durability, functionality and ease of maintenance, carpet tiles have become popular even in the residential segment. Expansion of the construction industry globally, rising GDP of the economies, rising wealth of the emerging economies, and growth of residential construction in the U.S. are some of the important factors driving growth of the carpet tile market. However, growth of the market is hindered by certain factors including substitution of carpet tile by hardwood, high cost of raw materials and implementation of environmental regulations on the manufacturers.
North America stands as one of the leading carpet tile market majorly driven by improved economic conditions, boom in the housing industry, recovery in residential replacement market, increase in non-residential building construction spending in the U.S. and improvement in the builders market of the region. Asia-Pacific region is seen as the fastest growing region for carpet tile on account of increased construction spending along with increasing wealth of emerging economies including China, Japan, India and Indonesia. European carpet tile market also improved for the year after recovery from recession coming from the Eurozone crisis.
The report analyzes the global carpet tile market, along with some of the major regional markets. The report discusses the major growth drivers and challenges of the industry. It also profiles the top players along with their business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests."