Texile flooring includes carpets, rugs and soft floor covering materials that are used for decorating and protecting floors in commercial and residential buildings. The textile floorings has wide range of products that provides durability, comfort, customization and low maintenance. Textile flooring products such as carpets are preferred due to their noise absorbing properties and thermal insulation which keeps the floors warm.

Market key trends:
Increased demand from residential sector- The demand for textile flooring such as carpets and rugs is increasing globally due to growing residential construction activities. Carpets and area rugs have become integral part of home decor and interior designing in homes. Also, the modern lifestyle and changing consumer preference towards sophisticated and comfortable flooring is boosting the adoption of textile flooring in residential buildings. Further, growth in renovation and remodeling activities in developed countries is also fueling the demand for carpets and rugs.

Porter's Analysis
Threat of new entrants: The textile flooring market requires huge capital investment in manufacturing facilities and distribution networks, thereby posing moderate threat from new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of wide range of products at different price points from various manufacturers.
Bargaining power of suppliers: The textile flooring industry is highly fragmented with the presence of numerous raw material suppliers globally, giving them low bargaining power.
Threat of new substitutes: Laminate and hardwood floorings pose threat as substitutes but textile flooring still dominates in certain areas due to easy maintenance.
Competitive rivalry: The global textile flooring market is highly competitive due to presence of large number of regional and international manufacturers.

SWOT Analysis
Strength: Wide product portfolio and global presence of key players. Development of innovative eco-friendly flooring products.
Weakness: Threat from substitutes like laminates and vinyl floorings. Dependency on raw material price volatility.
Opportunity: Growing remodeling and renovation activities globally. Increasing adoption in non-residential buildings like offices, malls.
Threats: Stringent environmental regulations regarding PVC content in floorings. Intense competition leading to pricing pressures.

Key Takeaways
The global textile flooring market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing construction of residential commercial buildings.

Regional analysis: The Asia Pacific region held the largest market share in the global textile flooring market in 2023, in terms of both value and volume, and is expected to maintain its dominance over the forecast period. Rapid urbanization, coupled with rising population in developing economies like India and China is anticipated to drive the demand for new residential and commercial construction projects in coming years.

Key players operating in the textile flooring market are Mohawk Industries, Inc., Interface, Inc., Beaulieu International Group N.V, Tarkett SA, Balta Group, Shaw Industries Group Inc., Forbo Holding AG, Mannington Mills, Inc., J+J Flooring Group, and Vorwerk and Co. KG.