Authored By: Sarah
26 Jun 2024

 Vinyl Flooring Market Size to grow by USD 12629.4 million between 2024-2028

According to a research report “ Vinyl Flooring Market” by End-user (Commercial, Residential) Product (Luxury vinyl tile, Vinyl composite tile, Vinyl sheet) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 12629.4 million, at a CAGR of about 7.06% during the forecast period. The construction industry is projected to expand at a Compound Annual Growth Rate (CAGR) of 3.90% from 2021 to 2030. Notable contributors to this growth include emerging economies such as India, China, Malaysia, Brazil, Vietnam, and Indonesia. These nations are prioritizing infrastructure development, positioning them as key players in the global construction market, which is anticipated to surpass USD15 billion by 2030. Vietnam and Malaysia, in particular, are emerging as significant contenders in the race for high-quality infrastructure development.

Browse market data tables, figures, and in-depth TOC on “Vinyl Flooring Market” by End-user (Commercial, Residential) Product (Luxury vinyl tile, Vinyl composite tile, Vinyl sheet) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By End-user, the Commercial segment is projected to dominate the market size in 2024

The vinyl flooring market represents a significant business opportunity due to its growing popularity as a cost-effective and durable alternative to traditional flooring options. With advancements in technology, vinyl flooring now offers the aesthetic appeal of natural materials, coupled with the ease of installation and maintenance. Market research indicates a steady growth trajectory, driven by increasing consumer preference for sustainable and easy-to-maintain flooring solutions.

By Product, Luxury vinyl tile  segment is expected to hold the largest market size for the year 2024

The vinyl flooring market represents a significant business opportunity, with increasing demand driven by its durability, affordability, and design versatility. Key market trends include the growing preference for luxury vinyl tiles and planks, as well as advancements in waterproof and eco-friendly technologies. Manufacturers and suppliers must stay abreast of these trends to remain competitive in this dynamic market.

APAC is forecasted to hold the largest market size by region in 2024

The vinyl flooring market exhibits robust growth, driven by its durability, affordability, and aesthetic appeal. This segment is experiencing significant demand due to its resistance to water and ease of maintenance. Key players in the industry include Armstrong World Industries, Mohawk Industries, and Shaw Industries, who are investing in innovative technologies to expand their product offerings and cater to evolving consumer preferences. The market is expected to continue its upward trajectory, fueled by increasing construction activities and renovation projects.

The Vinyl Flooring Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AHF Products
  • C.I. TAKIRON Corp.
  • CBC Co. Ltd.
  • Congoleum Corp.
  • Forbo Management SA
  • Gerflor Group
  • Interface Inc.
  • James Halstead plc
  • LX Hausys Ltd
  • Mannington Mills Inc.
  • Mohawk Industries Inc.
  • Novalis Holdings
  • Responsive Industries Ltd.
  • Shaw Industries Group Inc.
  • Tarkett
  • Toli Corp.
.

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Research Analysis Overview

The flooring sector has seen a significant growth in the demand for vinyl flooring in both commercial facilities and residential houses due to its moisture and water resistance properties. Vinyl flooring is an excellent choice for buildings that require high durability and resistance to wear and tear. In the service industry, waterproof floor coverings with stain-resistant and slip-resistant properties are popular choices for kitchens, bathrooms, and other high-traffic areas. Vinyl flooring, a type of resilient flooring, is known for its sustainability and aesthetics. It comes in various forms, including Luxury Vinyl Tiles (LVT) and vinyl sheets. Moisture-resistant and resilient flooring solutions are ideal for commercial applications, such as hospitals, schools, and retail stores, where heavy foot traffic and spills are common. For residential applications, vinyl flooring is a popular choice for its durability and ease of maintenance. Its slip-resistant and stain-resistant properties make it an excellent choice for homes with children and pets. Vinyl flooring is also suitable for sports activities and can be designed to mimic the look of natural materials like wood and stone. Flooring installers play a crucial role in the application of vinyl flooring, ensuring proper installation and maintenance to ensure the longevity of the flooring solution. With advancements in flooring technology, vinyl flooring offers a wide range of design options, making it a versatile and attractive choice for both commercial and residential applications.

Market Research Overview

The Vinyl Flooring Market encompasses various types of vinyl flooring, including Vinyl Composition Tiles (VCT) and Luxury Vinyl Tiles (LVT), as well as Vinyl Sheets. These flooring options cater to personal styles and the do-it-yourself culture, offering eco-friendly products with advancements like three-dimensional printing. Vinyl flooring is popular in both residential and non-residential buildings due to its durability, moisture-resistance, and low-maintenance properties. The Vinyl Sheet segment is particularly favored for its cushion effect and shock-absorbent property, making it suitable for basements, bathrooms, laundry rooms, kitchens, bedrooms, and living rooms. In the realm of interior designing, vinyl flooring's social image and aesthetic appeal have grown, making it a preferred choice for remodeling and renovation projects in luxurious housing projects, bridges, roads, public transit, hospitals, energy systems, schools, infrastructure, gymnasiums, and fitness centers. Manufacturing vinyl flooring involves using materials like PVC resins, plasticizers, pigments, trace stabilizers, glass fiber, limestone, and polyvinyl chloride resins. The flooring sector is supported by specialized machinery and regulatory bodies, ensuring anti-slip properties, stylish designs, and sustainability. Vinyl flooring offers various benefits such as comfort underfoot, scratch resistance, dent resistance, stain resistance, ease of installation, and moisture resistance. It is a versatile flooring solution for commercial applications, including offices, commercial facilities, and the fast-moving goods industry. In the residential sector, it is used in single-family houses and modern architecture. With advancements in technology, vinyl flooring continues to evolve, offering waterproof, stain-resistant, slip-resistant, and sustainable flooring solutions. It is a resilient flooring option that caters to various industries, from the service industry to sports activities, and is a popular choice for floor design and construction solutions. Flooring installers play a crucial role in the commercial and residential application of vinyl flooring.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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