Authored By: Sarah
30 Nov 2020

Vinyl Flooring Market Size to Grow by 262.94 mn m2 through 2020-2024  

Technavio research projects the vinyl flooring market to grow by 262.94 mn m2, accelerating at a CAGR of about 5% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Vinyl Flooring Market: Key Market Driver

One of the primary factors that will trigger the growth of the vinyl flooring market size is low cost and easy maintenance. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Vinyl Flooring Market to Post a CAGR of 5% through 2020-2024 | Demand from the Residential Segment to Drive Growth

Vinyl Flooring Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Armstrong Flooring Inc., Berkshire Hathaway Inc., Forbo Holding AG, Gerflor Group, Interface Inc., Mannington Mills Inc., Mohawk Industries Inc., Novalis Global Flooring GmbH, Tarkett Group, and Toli Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The Global Vinyl Flooring Market is expected to grow by 262.94 mn m2 accelerating at a CAGR of about 5% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis 

Vinyl Flooring Market to Post a CAGR of 5% through 2020-2024 | Demand from the Residential Segment to Drive Growth

Vinyl Flooring Market: Segmentation by End-user

During 2019, the residential segment dominated the global Vinyl Flooring Market in 2019. The demand for vinyl flooring in the residential end-user segment will largely be driven by home remodeling projects. Vinyl flooring materials, especially LVT, have gained traction among residential construction and home remodeling projects. This is due to their superior properties such as water-resistance, ease of cleaning, and the ability to improve indoor air quality. This report provides an accurate prediction of the contribution of all the segments to the growth of the vinyl flooring market size.

The low cost and easy maintenance of luxury vinyl tiles (LVT) is one of the key factors driving the vinyl flooring market growth. The price of LVT is almost one-third of hardwood flooring. LVT is durable, can withstand high traffic areas, and is maintained easily due to which commercial builders prefer LVT, driving the vinyl flooring demand. Innovative LVT offerings in a variety of patterns, visuals, color blends, and layouts is one of the major vinyl flooring market trends that is expected to gain traction in the market. To meet the customer demands for such products, major vendors are regularly innovating to enhance their LVT offerings. 

Vinyl Flooring Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Armstrong Flooring Inc., Berkshire Hathaway Inc., Forbo Holding AG, Gerflor Group, Interface Inc., Mannington Mills Inc., Mohawk Industries Inc., Novalis Global Flooring GmbH, Tarkett Group, and Toli Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

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