Global Vinyl Flooring Market, By Product (Luxury Vinyl Tiles (LVT), Vinyl Sheets and Vinyl Composite Tile), Format (Sheet, Plank, Tile), End User (Residential, Healthcare, Retail, Education, Sport, Hospitality, Offices, Industrial, Automotive, Others) – Industry Trends and Forecast to 2029.
Vinyl Flooring Market Analysis and Size
Vinyl flooring is a resilient flooring which is majorly used in the construction industry. This flooring material is fabricated from a combination of composites of synthetic and natural materials and limestone-based material like polyvinyl chloride and plasticizers. This form of flooring is offers more moisture resistance, is easy to maintain, and is more durable than other flooring solutions.
Vinyl flooring are used to increase aesthetics, interior looks, and comfort underfoot in several commercial and residential structures. However, the expansion of infrastructure in several industries like industrial automotive, healthcare, education, and the increase in homeowners and residential construction increase the market growth
Data Bridge Market Research analyses that the vinyl flooring market was valued at USD 32.93 billion in 2021 and is expected to reach USD 64.42 billion by 2029, registering a CAGR of 8.75 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Vinyl Flooring Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2014 - 2019) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Product (Luxury Vinyl Tiles (LVT), Vinyl Sheets and Vinyl Composite Tile), Format (Sheet, Plank, Tile) , End User (Residential, Healthcare, Retail, Education, Sport, Hospitality, Offices, Industrial, Automotive , Others) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Shaw Industries Group, Inc. (US), CBC Group (Singapore), Congoleum (US), Mannington Mills, Inc (US), Mohawk Industries Inc, (US), Novalis Holdings (US), Tarkett (France), Beauflor (Belgium), Beaulieu International Group (Belgium), Fatra, a.s (Czechia), Interface, Inc. (US), C.I. TAKIRON Corporation (Japan), Responsive Industries Ltd. (India), James Halstead PLC (UK), Karndean.(US), alshareef.org (Saudi Arabia), AFI Licensing LLC (US), Forbo Group (Switzerland), Gerflor Group (France), Highmoon Home Furnitures Trading LLC (UAE), Nesma (Saudi Arabia), Polyflor Ltd.(UK), Toli Floor (Japan) |
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Market Opportunities |
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Market Definition
Vinyl flooring is a synthetic flooring which has made up from polyvinyl chloride plastic which is commonly known as PVC. The Small pieces of colored PVC are heated and then pressed into thin layers and convert into flexible sheets of vinyl that can be left as it is and then cut into planks and tiles. Vinyl flooring can be textured and colored to resemble a variety of materials including stone, wood, and ceramic. Vinyl flooring is often compared to laminate or linoleum flooring, but both laminate and linoleum flooring are composed of all-natural materials. Vinyl is entirely synthetic and thus more durable, cheaper, and easier to install.
Vinyl Flooring Market Dynamics
Drivers
- Presence of Innovative Product
The main innovation in the vinyl flooring region is the presence of multilayer flooring products. The multilayer flooring products for example, rigid core, wood plastic composite, and other hybrid flooring options which has primarily made up of vinyl is enhancing the market. Multilayer flooring decreases the pre-installation subfloor manufacturing efforts and costs, and has greater resistance to temperature and humidity variation which reinforce the residential flooring.
- Increase the demand in various industry
Emerging markets have a direct impact on the growth of the vinyl flooring market due to the global construction industry, because in this sector has the huge demand for vinyl flooring. The development of infrastructures in several sectors, such as industrial automotive, healthcare, education, and others and the development of homeowners and residential construction are expected to fuel the growth of the vinyl flooring market.
- Rise the demand in construction industry
The high growth of the construction industry overall the globe is expected to drive the growth of the vinyl flooring market. There are some factors such as the growing non-residential and residential construction, maintenance and remodelling activities, enhanced aesthetic appearance and the high durability of these products are expected to drive the demand for vinyl flooring.
Opportunities
Technological advancements such as self-adhesive flooring which introduce by manufacturers have benefited the growth of the industry during the past few years. Furthermore, growing investments by major manufacturers to deliver customized product solutions in different design patterns, colors, dimensions and textures are driving the product penetration in the construction industry. Rise in demand for luxury vinyl tiles in non-residential buildings, such as educational institutions, offices, hotels, and hospitals, is anticipated to drive the vinyl flooring market in the upcoming future.
Restraints/ Challenges
The prices of many raw materials, including glass fibre and vinyl, limestone, account of nearly 50% of the total spending of the plant. Therefore, a fluctuation in the costs of these raw materials directly impacts the overall manufacturing budget of vinyl flooring which is hindering the growth of the global vinyl flooring market. Vinyl floorings are considered to be less environmental than their other alternatives as they may emit VOCs and are hard to recycle. Therefore, these factors are also anticipated to obstruct the market growth during the forecast period.
This vinyl flooring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vinyl flooring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Vinyl Flooring Market
COVID-19 is an incomparable global public health emergency which has affected almost every business, and it has long term effect which are likely to impact the growth of the industry during the forecast period. Many construction projects have been suspended due to the lockdown which is imposed by the government authorities, while others have been postponed. Several industry such as restaurants, offices, and hotels were closed due to the outbreak of coronavirus, which is leading to a negative impact of COVID 19 on the vinyl flooring market.
Recent Development
- In December 2021, the Commission for Air Quality Management (CAQM) has announced that it has moderately raised the construction ban that was applied across the National Capital Region (NCR) to decrease the toxic air pollution levels.
Global Vinyl Flooring Market Scope
The vinyl flooring market is segmented on the basis of products, format and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Luxury Vinyl Tiles (LVT)
- Vinyl Sheets and Vinyl Composite Tile
Format
- Sheet
- Plank
- Tile
End User
- Residential
- Healthcare
- Retail
- Education
- Sport
- Hospitality
- Offices
- Industrial
- Automotive
- Others
Vinyl Flooring Market Regional Analysis/Insights
The vinyl flooring market is analysed and market size insights and trends are provided by country, products, format and end-user as referenced above.
The countries covered in the vinyl flooring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
During the forecast period, Asia-Pacific dominates the vinyl flooring market in terms of revenue and market share. This is due to the growing demand for vinyl flooring in this region. The Asia-Pacific region leads the vinyl flooring market due to the increasing number of construction activities and fluctuating consumer preferences and augmenting the aesthetics of the property in this region.
During the projected period, North America is anticipated to be the fastest developing region due to the development of the construction sector in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vinyl Flooring Market Share Analysis
The vinyl flooring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vinyl flooring market.
Some of the major players operating in the vinyl flooring market are:
- Shaw Industries Group, Inc. (US)
- CBC Group (Singapore)
- Congoleum (US)
- Mannington Mills, Inc (US)
- Mohawk Industries Inc, (US)
- Novalis Holdings (US)
- Tarkett (France)
- Beauflor (Belgium
- Beaulieu International Group (Belgium)
- Fatra, a.s (Czechia)
- Interface, Inc. (US)
- C.I. TAKIRON Corporation (Japan)
- Responsive Industries Ltd. (India)
- James Halstead PLC (UK)
- Karndean. (US)
- alshareef.org (Saudi Arabia)
- AFI Licensing LLC (US)
- Forbo Group (Switzerland)
- Gerflor Group (France)
- Highmoon Home Furnitures Trading LLC (UAE)
- Nesma (Saudi Arabia)
- Polyflor Ltd. (UK)
- Toli Floor (Japan)
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