Vinyl Flooring Market Size, Share, Demand and Trends by 2022-2028
Future Market Insights’ newly published market report, ‘Vinyl Flooring Market: Global Industry Analysis and Forecast, 2022-2028,’ examines the vinyl flooring market and offers crucial market insights for the next ten years.
The valuable insights encapsulated in the report
highlights that the plank segment is expected to remain a leading segment in
the market in terms of format, recording a CAGR of 6.8% during the
forecast period (2022 – 2028).
In addition, the segment is expected to account for
around 40.0% share of the overall market value throughout forecast period.
Globally, the vinyl flooring market is projected to reach US$ 41,578.70 Mn by
the end of 2028.
Global Vinyl Flooring Market: Key Dynamics
Increasing number of infrastructural activities in
both developing and developed countries have continued to contribute towards
growth of the global vinyl flooring market. To offer versatile,
water-proof and stain-resistant floorings, prominent manufacturers are focusing
on utilizing digital printing and 3D printing techniques for developing vinyl
planks and products.
These technological advancements enable the end users
to duplicate any original material, such as gravel, wood, metal and others. For
instance, Tarkett in collaboration with Philip lighting has launched LED
embedded tiles that can guide people to any location (store/building)
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With the increasing number of small and medium
business, demand for infrastructure continues to persist. In addition,
constructors are focusing on building healthcare infrastructures near the
residential areas.
In pace with the increasing number of construction
projects, growth of the vinyl flooring market is likely to gain a speedy
momentum during the assessment period.
To offer convenience to the end users in the residential
industry, leading manufacturers are focusing on developing a wide array of
vinyl flooring that are waterproof and easy to clean.
Also, vinyl flooring is considered as decorative
flooring due to the recent upgrades, such as resemblance to ceramic or other
contemporary looks (petrified wood or stained concrete). Also, vinyl flooring
is preferred for high-traffic areas as it is durable, trendy and available with
built-in adhesive
Global Vinyl Flooring Market: Forecast
On the basis of vinyl flooring application, the
commercial segment is expected to witness significant growth in terms of volume
during the forecast period.
As per the forecast, the commercial segment is
estimated to account for more than 56.5% share in the overall market value by
the end of the forecast period. This is largely due to the massive applications
of vinyl flooring in various innovative constructions.
On the basis of region, Western Europe is
anticipated to dominate the global vinyl flooring market throughout the
forecast period. Western Europe market is expected to expand at
around 7.3% CAGR. SEA & Pacific region is anticipated to record robust CAGR
in the global vinyl flooring market throughout 2028.
These two regions coupled with North America and China are
expected to register impressive growth rates in the global vinyl flooring
market over the assessment period.
Global Vinyl Flooring Market: Competitive
Landscape
Some of the players identified in the global vinyl
flooring market include Tarkett, AFI Licensing LLC, Mohawk Industries, Inc.,
Forbo Group, C.I. TAKIRON Corporation, Responsive Industries Ltd., TOLI
Corporation, JAMES HALSTEAD PLC, Interface, Inc., Mannington Mills, Inc.,
Gerflor, Shaw Industries Group, Inc. and among others. Leading players are
focusing on incorporating advanced technology to optimize their performance.
Vinyl flooring manufacturers are concentrating on
strategic acquisitions to broaden their growth prospects in the competitive
market. These factors are expected to reflect positively on the growth of the
global vinyl flooring market over the coming years.
Vinyl Flooring Market by Category
Format:
- Sheet
- Plank
- Tile
Product Type:
- Inlaid
- Printed
Application:
- Residential
- Commercial
- Healthcare
- Hospitality
- Retail
& Offices
- Others
- Industrial
Region:
- North
America
- Latin
America
- Western
Europe
- Eastern
Europe
- South
East Asia and Pacific
- China
- India
- Japan
- Middle
East and Africa
Browse
Full Report: https://www.futuremarketinsights.com/reports/vinyl-flooring-market
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