Increasing requirement for tufting technologies that provides low manufacturing cost and easy installation is likely to increase the demand for textile floorings in the forthcoming years. Key players in the global market for textile floorings are increasing their focus on M&A of the manufacturers in the region. This will be done for the purpose of enhancing their operations with lowest capital expenditure, thereby firming their value chain.
A recent report anticipates that the global market for textile floorings will expand at a moderate4 5.7%CAGR during the forecast period, 2016-2026. Companies namely Shaw Industries Group Inc., Interface, Inc., Vorwerk and Co. KG, Forbo Holding AG, Beaulieu International Group N.V, J+J Flooring Group and Balta Group among others will witness a sizeable growth globally. Leading companies are intent on marketing schemes such as product developments and growing their product portfolio.
Shaw Industries Group Inc. Acquires a Scotland-Based Textile Flooring Company
Shaw Industries Group Inc. recently announced the acquisition of STS (Sanquhar Tile Services), carpet tile maker in Scotland. The acquisition was to multiply its global presence in the carpet tile industry. Shaw Industries Group Inc. has mentioned that Sanquhar Tile Services is important for the company with regards to commercial business as it would help in generating substantial capital investments. This in turn would help in modernizing and enhancing their operations.
Sanquhar Tile Services will help Shaw Industries Group Inc. to develop advanced and innovative carpet tiles, especially in Europe. Key players must note that Shaw Industries Group Inc. currently manufactures its carpet tiles at facilities that it has developed and built in Nantong, Adairsville and Cartersville. Sanquhar Tile Services will work efficiently in business operations along with its production abilities from tufting to cutting. This company will continue manufacturing and selling its products to its existing customers, thereby leveraging its capabilities in producing products in the global market.
Shaw Industries Group Inc. is expected to make heavy investments in Sanquhar Tile Services which would help in advancing as well as innovating both the company’s manufacturing techniques that would cater the increasing needs of customers.
Interface, Inc. To Expand Its Modular Flooring Business
Interface, Inc. recently announced that it has entered the category of hard surface flooring which expands its wide-ranging modular carpet tiles. Manufacturers are to note that this expansion will benefit the company in developing efficient designers and architects, flooring dealers, end-use customers and most importantly completely integrated group of soft and hard tiles. This seamlessly fits in the modular design system of Interface, Inc.
The company has taken immense efforts in developing solutions for the sustainability, performance and design of its products. The company’s LVT (Luxury Vinyl Tiles) is witnessing outstanding sales along with its carpet tiles. Key players must note that this enables the existing as well as emerging customers to explore innovative and new designs along with rich textural capabilities across all applications.
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