DECEMBER 2023CONSTRUCTIONBUSINESSREVIEW.COM6The flooring industry has witnessed a remarkable transformation in recent years, driven by both evolving design preferences and cutting-edge technological advancements.According to Verified Market Research, the flooring market size was valued at USD 382.33 Billion in 2021 and is projected to reach USD 619.06 Billion by 2030, growing at a CAGR of 5.50 percent from 2023 to 2030. The market expansion is being fueled by increasing urbanization as a result of population growth and the desire for infrastructure development.The current trends in flooring systems reflect a growing desire for sustainability and authenticity. Eco-friendly and natural materials, such as bamboo, cork, and reclaimed wood, have gained popularity as they align with the increasing environmental consciousness. These materials not only reduce the carbon footprint but also bring a touch of warmth and character to interior spaces. Another noteworthy trend is the resurgence of classic and timeless designs. Patterns like herringbone, chevron, and parquet are making a comeback, adding a touch of sophistication to homes and commercial spaces. Additionally, geometric designs and bold colors are becoming popular choices, allowing for creative and eye-catching flooring compositions.Durability remains a key concern for flooring systems, especially in high-traffic areas. Technological advancements have given rise to more robust and long-lasting options. Luxury vinyl tiles (LVT) mimic the appearance of natural materials while providing exceptional durability and resistance to moisture, making them suitable for kitchens and bathrooms.This edition of Construction Business Review delivers a bird's-eye view of recent developments in the flooring systems arena and insights into how organizations align with these trends and adopt lucrative ways to bring the futuristic vision of flooring systems to fruition. We have curated thought leadership articles from industry experts, including Ramon Parchment, Mission Critical Project Manager at AECOM Tishman and Shawn McNamara, Vice President of Product Engineering and Strategy at Dayton Superiors.We also took a deep dive into market trends to narrow down the list of companies delivering innovative flooring options. Equipped with innovative technological capabilities, companies like ProStar Surfaces help transform businesses at the cloverleaf of various disruptive technologies.We hope this edition of Construction Business Review on Flooring Systems helps you build the partnership you and your organization need to foster an environment driven by efficient technology. Let us know your thoughts!Embracing Innovation and Design TrendsEDITORIALCopyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Editorial StaffDavid VincentFred SmithKevin DavisFredrick GallowayJames FerrerRose D. WilsonManaging EditorRobert MathewsVisualizersHenry SmithJames D. PhillipsEmail:sales@constructionbusinessreview.comeditor@constructionbusinessreview.commarketing@constructionbusinessreview.com December - 2023, Vol 03 Issue 26 (ISSN 2835-9429)Published by ValleyMedia, Inc.To subscribe to Construction Business ReviewVisit www.constructionbusinessreview.com Robert MathewsManaging Editoreditor@constructionbusinessreview.comDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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