Vinyl Flooring Market
global vinyl flooring market value is registered as USD 32.37 billion and is estimated to grow at a significant rate of 6.8% CAGR along with the vinyl flooring market size of USD 58,685.1 Million during the forecast period 2022–2030
Expanding infrastructural development activities along with improving economic conditions worldwide majorly drive market growth. Moreover, properties that Vinyl Flooring Market offers like waterproofing, and microbial protection adding a dash to the decorative finish are pushing the market growth. This is backed by the rising urbanization in developing economies like India and China coupled with increasing commercial facilities are generating growth opportunities for the Vinyl Flooring Industry.
The vinyl flooring market refers to the industry that produces and sells vinyl flooring products. Vinyl flooring is a type of synthetic flooring material that is made from PVC (polyvinyl chloride) and other additives. It is a popular choice for both residential and commercial settings due to its durability, low cost, and easy maintenance.
The vinyl flooring market includes various types of products, such as vinyl tiles, planks, sheets, and luxury vinyl tiles (LVT). These products are available in different colors, patterns, and designs to suit different preferences and needs. The market also includes various manufacturers, distributors, and retailers that offer vinyl flooring products to customers.
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Vinyl Flooring Worldwide Market — Competitive Landscape
The Vinyl Flooring Market appears to be fiercely competitive and fragmented with the numerous well-established operating in the market. They compete on quality, price, branding, extensive customer service. Due to the low product differentiation and availability of many similar products in the market, players aim to improve brand recall through effective marketing communications. The high growth potential demonstrated by the market is expected to attract several new entrants making the market more competitive.
Innovation/ Industry/ Related News:
January 31, 2018 — DuChâteau® (US) a leading inventive lifestyle brand specializing in the manufacture and design of luxury architectural materials for custom flooring, wall coverings, and more launched its collection of the innovative luxury vinyl plank at The International Surface Event, Las Vegas.
January 25, 2018 — Tarkett Group (Paris), a global manufacturer for luxury vinyl tiles announced its expansion plans with USD 60 million investments over the following three years. The company is expanding its LVT (luxury vinyl tile) production plants in Alabama (US), Ala and Florence also building new distribution complex boosting the production sales for the flooring industry, one of the fastest growing sectors.
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The vinyl flooring market is expected to grow in the coming years due to the increasing demand for affordable and easy-to-install flooring solutions. Factors such as rising urbanization, population growth, and increasing construction activities are also expected to drive the demand for vinyl flooring products. Additionally, technological advancements in manufacturing processes and product innovations are likely to further fuel the growth of the vinyl flooring market.
Worldwide Vinyl Flooring Market — Segmentation
For the convenience of the report, the report is divided into 3 key segments.
By Product: Comprises Luxury Vinyl Tiles, Vinyl sheets, Printed Vinyl, Carpets, and others.
By Applications: Non-residential, Residential, Commercial, and others.
By Regions : North America, Europe, APAC and the Rest of the World.
Worldwide Vinyl Flooring Market — Regional Analysis
Asia Pacific is the largest market for Vinyl Flooring Market Opportunity is further projected to dominate the global market. The burgeoning construction/ Real estate market coupled with the changing lifestyle consumer preference attributes to the market growth. Similarly increasing population in the region defines the significant landscape for infrastructure development, augmented demand for the new leading to an increase in the market size.
On the other hand, the North American market perceives accruals owing to the growth in educational and commercial industries coupled with the technological advancements that allow the material to demonstrate properties like high-durability, hygiene, cost efficiency, and maintenance free.
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