Vinyl Flooring Market Trends, Analysis and Forecast to 2027
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 refers to synthetic polymer flooring materials that are cost-effective, durable, and convenient to install. They can be categorized into numerous types, including vinyl sheet, luxury vinyl tile (LVT), vinyl composition tile (VCT), etc. These vinyl flooring products are versatile, highly resistant to stains and water, available in various colors and patterns, and easy to maintain, owing to their resilient protective coating that safeguards them from scratches and dirt. Consequently, they find widespread applications across several sectors, such as healthcare, education, industrial, residential, hospitality, retail, etc.
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Vinyl Flooring Market Trends:
The growing construction of luxurious housing projects across countries and the increasing number of renovation and remodeling activities are primarily driving the vinyl flooring market. In addition to this, the rising demand for low-maintenance, budget-friendly, and lightweight construction materials, especially in developing countries, is also positively influencing the market growth. Furthermore, the elevating usage of this flooring material in offices and other commercial as an effective alternative to the high-maintenance flooring options, including marble, granite, hardwood, etc., is acting as another significant growth-inducing factor. Apart from this, the inflating investments by the key market players in research and development (R&D) activities to offer customized product solutions in diverse patterns, textures, and dimensions and the introduction of self-adhesive flooring options are further augmenting the market growth. In line with this, the launch of recycled and bio-floor coverings that ensure sustainability and the shifting preferences toward luxury vinyl tiles that reduce material wastage and replacement costs are expected 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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