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October 12, 2020
There are two ways to look at the flooring industry as a whole in 2019, depending on whether ones sees the glass as half full or half empty. On one hand, sales eclipsed the $23 billion mark for the first time since 2006. On the other hand, the 0.4% growth in dollars was the lowest since 2009, when the industry declined significantly due to the Great Recession.
Shifting back to the positive side, the industry continued its growth curve in terms of dollars, albeit ever so slightly, a journey that began in 2010. Truth be told, had it not been for the resilient category in general and the waterproof subsegment in particular—which is basically carrying the floor covering industry on its back—the industry would have posted a decline in dollars for the first time in 10 years. Rigid core is serving as the catalyst for this explosive growth in the resilient category in 2019.
FCNews research reveals just how much rigid core is driving growth of the segment. Last year, rigid core checked in at $1.242 billion and 738 million square feet. That translates into 22.8% of resilient’s dollars and 16.2% of its volume. To put this in perspective, total LVT sales just five years ago were $1.14 billion. So, rigid core alone is greater than the entire LVT market in 2014. Read More