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