Press Release Description

Global Vinyl Flooring Market Size to Exceed USD33 billion by 2025 

The global vinyl flooring market is witnessing an increased demand across the globe in recent years owing to rising construction activity in the residential and commercial sector, primarily in Asia Pacific, and the Middle East. While Europe and the United States are expected to undergo refurbishment through 2030. Therefore, the opportunities for vinyl flooring providers is set to snowball in the forthcoming years. Moreover, rising disposable income in the emerging countries has been resulting in increased spending on home aesthetics. Moreover, rising high rise towers for residential purposes or multi-family residential complexes are emerging as the prime users of vinyl flooring across the globe.    

According to the MarkNtel Advisors’ research report, Global Vinyl Flooring Market, Analysis, 2020”, the market size Vinyl Flooring expected to grow at a CAGR of around 7% during 2020-25 to surpass USD33 billion mark in 2025. 

The market is undergoing continuous transition due to perennial launch of new designs, color shades, textures, and patterns to lure the customers. Moreover, the gradual integration of digital technology to improve designs, understanding customer behavior is set to act as a stimulant to the growth of vinyl flooring market.

In 2019, economy vinyl flooring grabbed the highest market share followed by the budget and premium category. However, the premium category is projected to outpace economy and budget segments in the forthcoming years due to increased installation in commercial and luxury apartments. In luxury segments, luxury Vinyl tiles are registering an uptick in demand on account of enhanced aesthetics and appearance. The demand for these tiles is surging from corporate offices, restaurants, hotels, apartment complexes, etc.    

Residential installation dominated the overall market with considerable market share in 2019. However, the sales in the non-residential sector is projected to grow at a fervent pace, outperforming the other sectors. Majority of the residential sales were concentrated in Asia Pacific, primarily in China, India and Middle East regions. According to European Commission, around 50% of the buildings in Europe aged more than 50 years in 2019 and would undergo renovation in the forthcoming years. Also, the United States has planned to refurbish 75% of its buildings by 2035. Therefore, these refurbishment initiatives are set to emerge as opportunity areas for vinyl flooring providers.   

According to MarkNtel Advisors’, the key players operating in the global vinyl flooring market are Armstrong Flooring, Mannington Mills, Mohawk Industries, Tarkett, Forbo Flooring, Shaw Industries, Polyflor, LG Hausys, Interface, Gerflor, The Dixie Group, etc. with substantial market share in 2019.  

The competitors have increased their investments in providing environment friendly prducts with low VOCs. Also, the companies are gradually integrating digital printing into their operations to provide better designs, quality and aesthetics. 

"Global Vinyl Flooring Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for vinyl flooring providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.  
 
Industry Segmentation:
1.    By Type of Material (Vinyl Sheets, Vinyl Tiles, Luxury Vinyl Tiles)
2.    By Application (Residential, Commercial, Industrial)
3.    By Price Category (Premium, Economy, Budget)
4.    By Sales Channel (Direct, Dealers or Distributors, Others) 
5.    By Geographic Region (North America, South America, Europe, Middle East, Africa, Asia Pacific)
6.    By Countries (US, Canada, Mexico, Brazil, Chile, Argentina, Germany, France, UK, Russia & CIS South Africa, Nigeria, UAE, Saudi Arabia, Kuwait, Qatar, Kuwait, China, India, South Korea, South East Asia, Japan, Others) 
7.    By Competitors (Armstrong Flooring, Mannington Mills, Mohawk Industries, Tarkett, Forbo Flooring, Shaw Industries, Polyflor, LG Hausys, Interface, Gerflor, The Dixie Group, etc)  

Key questions answered in the study: 
1.    What are the current and future trends of the Global Vinyl Flooring? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    What are the future plans and customer expectations of end-users across the globe? 
4.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
5.    What are the key growth drivers and challenges for the Global Vinyl Flooring Market?
6.    What are the customer orientation, purchase behavior, and expectations from the Global Vinyl Flooring suppliers across various regions?