The global demand for Vinyl Flooring Market is presumed to reach the market size of nearly USD 114.07 MN by 2028 from USD 44.75 MN in 2021 with a CAGR of 14.3% under the study period 2022 - 2028.
Vinyl flooring is a type of completed flooring that is constructed primarily of a limestone base material blended with natural and synthetic polymer ingredients such as polyvinyl chloride and plasticizers. It is a form of durable and resilient flooring that is mainly employed in commercial and residential construction applications.
Market Dynamics
The market for vinyl flooring is expected to grow in response to the rising demand for low-maintenance, cost-effective, and lightweight construction materials in residential construction. The market is likely to develop because of the increasing demand for the product in high-traffic areas such as offices and commercial spaces. The product is regarded as a low-cost alternative to wood and carpet tiles. Furthermore, the better comfort and noise control these floors provide are projected to drive demand in multistory structures. The soft covering has traditionally dominated the business in the country. However, the market for vinyl flooring is projected to be driven by shifting customer preferences for low-maintenance flooring alternatives. The expansion of the vinyl flooring industry is likely to be aided by increasing the number of multifamily residences built to suit the growing population. Manufacturers' technological improvements in the introduction of self-adhesive floorings have benefited the industry's expansion in recent years. Furthermore, leading manufacturers are boosting their investments to offer customized product solutions in various colours, design patterns, textures, and dimensions, fueling product penetration. Stringent rules, and harsh temperatures and strong sunshine, can harm the floor and colours, limiting the expansion of the vinyl flooring business.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of vinyl flooring. The growth and trends of vinyl flooring industry provide a holistic approach to this study.
Market Segmentation
This section of the vinyl flooring market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By End Use Industry
- Residential
- Healthcare
- Retail
- Education
- Sport
- Hospitality
- Offices
- Industrial
- Automotive
By Product
- Luxury Vinyl Tiles (LVT)
- Vinyl Sheets & Vinyl Composite Tile
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Vinyl Flooring market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Vinyl Flooring Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the vinyl flooring market include Armstrong World Industries, Inc., Berkshire Hathaway Inc., CBC Flooring, Congoleum Corporation, Forbo Holding AG, Tarkett S.A., Mannington Mills, Inc., Mohawk Industries, Inc., Gerflor SAS, and IVC Group. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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