Latest News:- Resilient Flooring Market: Luxury vinyl tiles is expected to lead the Product segment during 2024-2028

Resilient Flooring Market to grow at a CAGR of 6.36% during 2024-2028

The Resilient Flooring Market is expected to grow at a CAGR of 6.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 23.3 billion. Hybrid resilient flooring represents a cutting-edge innovation in the flooring industry, merging the strengths of various materials, including vinyl, rubber, and laminate. This synergistic blend enables manufacturers to create resilient flooring solutions that cater to diverse consumer preferences and application demands. The resulting products boast enhanced durability, aesthetics, and performance. Engineered with robust wear layers, rigid cores, and protective coatings, hybrid resilient flooring is capable of withstanding heavy foot traffic, spills, scratches, and prolonged wear and tear, making it an ideal choice for both residential and commercial applications. 

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The Luxury vinyl tiles subsegment is expected to dominate the Product segment during the forecast period 

Technavio analysts predict that the Luxury vinyl tiles subsegment will lead the Product segment during 2024 and 2028 Luxury vinyl tiles (LVT) provide businesses and consumers with an array of design options, replicating the authentic appearance of premium flooring materials like wood, stone, and ceramic. The affordability of LVT, offering the same visual appeal at a reduced cost, makes it an enticing choice for those looking to enhance the aesthetics of their residential or commercial spaces. LVT's durability, resilience, and wear resistance are essential attributes, making it suitable for high-traffic areas and demanding environments. The robust construction, protective wear layers, and scratch-resistant surfaces contribute to LVT's longevity and performance, making it a preferred option for those seeking low-maintenance and long-lasting flooring solutions.

Here are the various ways based on which the market is segmented: 

• Product
  • Luxury vinyl tiles
  • Vinyl sheet and floor tiles
  • Others
• End-user
  • Non-residential
  • Residential
• Geography
  • APAC
  • North America
  • Europe
  • Middle East and Africa
  • South America

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish growing demand for waterproof resilient flooring

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The resilient flooring market is experiencing significant growth due to its increasing popularity in new construction projects and ongoing renovation activities. This market includes various types of flooring such as Ceramic tiles, Rugs, Carpets, Fiberglass vinyl sheets, and Luxury Vinyl Tiles (LVT). Raw materials like PVC and Mercury are commonly used in the production of these building products. Innovative technologies like 3D printing are being adopted to create unique and customized designs, making resilient flooring a preferred choice for interior designers and ultramodern workspaces. The market is not limited to residential replacement but also caters to commercial spaces like offices. Key features of resilient flooring include odor-proofing, waterproofing, and scratch resistance. Novalis Innovative Flooring is a leading player in the resilient flooring market, offering a wide range of LVT options for both residential and commercial applications. Vinyl floorings, a popular type of resilient flooring, are known for their durability and ease of maintenance. With ongoing advancements in building materials and technologies, the resilient flooring market is expected to continue its growth trajectory.

Market Research Overview

According to Technavio, the global resilient flooring market is a segment of the expansive global construction materials market, which encompasses companies and products associated with the manufacturing of various materials such as sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and others. The construction materials market, in turn, is a significant component of the larger global materials market, generating combined revenue from the providers of chemicals, construction materials, containers and packaging, metals and mining, and paper and forest products. Factors propelling growth in the global construction materials market include the burgeoning building and construction industry, which significantly impacts the demand for construction materials.

The Resilient Flooring Market is experiencing significant growth, fueled by the growing demand for waterproof resilient flooring. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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