According to IMARC Group’s latest report, titled “Vinyl Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the global vinyl flooring market size reached US$ 42.47 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 72.89 Billion by 2027, exhibiting a CAGR of 9.20% during 2022-2027.
Vinyl flooring represents a flooring material made by combining natural and synthetic polymer materials, which are glued together to provide a long-lasting, practical, and economical floor covering. It is versatile, easy to install, and highly resistant to water and stains. Vinyl flooring is segregated into vinyl sheet, luxury vinyl tile (LVT), and vinyl composition tile (VCT).
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Vinyl Flooring Market Trends:
The rising construction of luxurious housing projects, the inflating urbanization levels, and the increasing income levels across the globe are among the key factors stimulating the vinyl flooring market. Moreover, the growing environmental concerns are encouraging government bodies to promote the widespread utilization of sustainable construction resources, including bio-based vinyl flooring to mitigate volatile organic compounds (VOCs), which is acting as another significant growth-inducing factor. Besides this, the escalating demand for low-maintenance, cost-efficient, and lightweight construction materials is positively influencing the global market. Furthermore, the rising usage of vinyl flooring in offices and other commercial spaces is also propelling the market growth. Apart from this, the increasing need for multifamily houses to accommodate the surging population across numerous countries is offering growth opportunities to industry investors, which is further fuelling the global market. Additionally, the inflating requirement for diverse printing solutions, which further enables easy texture printing on tiles is also driving the market growth. In addition to this, the growing investments in R&D activities to provide customized product solutions in several colors, designs, patterns, textures, and dimensions and the rising focus on introducing self-adhesive floorings are anticipated to fuel the vinyl flooring market over the forecasted period.
Vinyl Flooring Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the vinyl flooring market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Mohawk Industries Inc.
- Tarkett
- Armstrong World Industries, Inc.
- Shaw Industries, Inc.
- Mannington Mills, Inc.
- Beaulieu International Group
- Gerflor
- Forbo
Key Market Segmentation:
The report has segmented the global vinyl flooring market on the basis of product type, sector and region.
Breakup by Product Type:
- Vinyl Sheet
- Luxury Vinyl Tile (LVT)
- Vinyl Composition Tile (VCT)
Breakup by Sector:
- Residential
- Commercial
Breakup by Regions:
- Asia Pacific
- North America
- Western Europe
- Eastern Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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