According to the latest report by IMARC Group 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 a new variety of the resilient flooring which is widely used in the construction sector. It acts as a cost-effective substitute for natural floors like concreate, marble, ceramic and wood. In addition to this, vinyl flooring is one of the popular flooring materials which displays several advantages like durability, scratch-resistance, easy maintenance as well as installation, and extensive availability in terms of colour, design and patterns. Moreover, vinyl flooring is mainly used in the commercial settings as it has the potential to withstand high foot traffic.
Get a Free Sample Copy of This Report: https://www.imarcgroup.com/vinyl-flooring-market/requestsample
Global Vinyl Flooring Market Drivers/Constraints:
- The recovery of the economy at a global scale has bolstered the overall construction industry. Additionally, the existing poor infrastructure, particularly in the developing regions like Africa, Asia, Eastern Europe and Latin America has propelled the growth of the global vinyl flooring market.
- In order to survive the market competition, manufacturers are expanding the consumer-base and are using technological advancements for printing and introducing innovative graphic film layers as well as versatile vinyl flooring designs.
- Some of the other factors fostering the growth of the vinyl flooring market include population growth, rapid urbanisation and industrialisation, escalating disposable incomes and rising interest of consumers towards home décor.
- Nonetheless, the installation of vinyl flooring requires a higher level of skills or training. Manufacturers are responsible for providing extensive training to the professional installers as improper installation may lead to wrong patching, irregular surface and surface cracking.
Key Market Segmentation:
Performance by Product Type:
- Vinyl Sheet
- Luxury Vinyl Tile (LVT)
- Vinyl Composition Tile (VCT)
Performance by Sector:
- Residential
- Commercial
Performance of Key Regions:
- Asia Pacific
- North America
- Western Europe
- Eastern Europe
- Latin America
- Middle East and Africa
Competitive Landscape:
The market is fragmented in nature with the presence of many small and large manufacturers that are competing in terms of prices and quality. There is an intense competition in the market which makes it hard for small players to survive. Some of the leading players operating in the market are:
- Mohawk Industries Inc.
- Tarkett
- Armstrong World Industries, Inc.
- Shaw Industries, Inc.
- Mannington Mills, Inc.
- Beaulieu International Group
- Gerflor
- Forbo
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/vinyl-flooring-market
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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800