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Vinyl Flooring Market (Product Type - Luxury Vinyl Tiles (LVT), Vinyl Sheets, and Vinyl Composite Tile; Material - Wood Plastic Composite, and Stone Plastic Composite; end-user Industry - Residential, Healthcare, Education, Industrial, Hospitality, and Other): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : July, 2022

  • Rep Id : CM00920

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the vinyl flooring market provides in-depth analysis of segments and sub-segments in the global as well as regional vinyl flooring market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional vinyl flooring market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global vinyl flooring market. According to the report, the global vinyl flooring market is projected to grow at a CAGR of around 7% over the forecast period of 2022-2028.

 

Market Insight

The Global Vinyl Flooring Market was valued at around USD 31 Billion in 2022 and is expected to reach nearly USD 47 Billion in 2028, with a CAGR of around 7% during the forecast period. The growing willingness to invest more money in premium flooring is increasing the demand for vinyl flooring. Vinyl flooring is a mixture of polyvinyl chloride and plasticizers. Vinyl flooring is versatile, flexible, and available in a variety of patterns and colors. As it is affordable compared to other floorings it has high demand in the market. There are varied choices of vinyl flooring available commercially. The most probably used type of vinyl flooring is printed inlaid vinyl. The features such as ease of installation on existing flooring and low cost as compared to other flooring options are fueling the demand in the market.

 

Vinyl Flooring Market



The growing use of modern flooring for residential sites is primarily driving the growth of the vinyl flooring market. In addition, the surface can be easily cleaned either with plain water or with vinyl floor cleaner to remove stains. Furthermore, vinyl flooring is on the rise due to the demand for sophisticated pattern-styled products. The change in consumer preferences in flooring and the growing disposable income are fueling the growth of the vinyl flooring market. Besides that, it is completely water-resistant and has a long life that increases its adoption in industrial spaces. However, it discharges volatile organic compounds (VOC) into the air, and the stringent regulations to limit the use of VOCs in consumer products may hamper the growth of the vinyl flooring market. Moreover, the growing innovations in vinyl flooring are anticipated to promote fruitful opportunities for the growth of the vinyl flooring market. The outbreak of the covid-19 pandemic has mostly affected the overall industry during the forecast period. The market was positively and negatively affected during the pandemic period. The spread of the covid-19 virus has stopped construction activities and projects in various countries. Fluctuation in the availability of raw materials was the major issue during the pandemic. Furthermore, the shortage of contract workforce and skilled workforce enhanced the projected completion duration. Moreover, economic slowdown and decreased spending on the development of the new infrastructure restrained the growth of the market. However, the increasing spending on the health care infrastructure to increase the capacity of the beads created a growth opportunity for the market during the covid-19 pandemic.

 

Based on the region, the worldwide vinyl flooring market is segmented into the Asia Pacific, North America, Europe, and also the Middle East & Africa. Among the regions, North America is the largest region in the vinyl flooring market because of the increasing presence of major market players in the region. The Asia Pacific region is expected to be the fastest-growing region during the forecast period. The advanced development of the construction industry and ongoing infrastructure projects in developing countries such as India and China have increased the demand. Furthermore, the increasing urbanization has grown the adoption of renovation in industrial, residential, and commercial buildings has grown demand for vinyl flooring in the Asia Pacific region.

 

Segment Covered

The report on the global vinyl flooring market covers segments such as product type, material, and end-user industry. On the basis of product type, the sub-markets include luxury vinyl tiles (LVT), vinyl sheets, and vinyl composite tile. On the basis of material, the sub-markets include wood plastic composite, and stone plastic composite. On the basis of end-user industry, the sub-markets include residential, healthcare, education, industrial, hospitality, and other.

 

Companies Profiled:

The report provides profiles of the companies in the market such as AFI Licensing LLC, Forbo Holding AG, Mohawk Industries Inc., TOLI Corporation, Mannington Mills, Inc., CI TAKIRON Corporation, Responsive Industries Ltd., James Halstead PLC, Shaw Industries Group, Inc., and Gerflor Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vinyl flooring market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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