Pune, India, April 05, 2022 (GLOBE NEWSWIRE) — The vinyl flooring market is expected to grow at a steady growth rate over the forecast period, driven by the growing demand for building materials that require low maintenance. maintenance, light and economical in the residential sector. construction sector. Vinyl flooring is a resilient and sturdy type of flooring, which is widely used in construction applications associated with residential and commercial projects. Hence, the continued growth in infrastructure development in various sectors such as healthcare, automotive industrial, and education, among others, is driving growth growth.
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Vinyl flooring is made up of multiple layers of material that are sandwiched together to form a very durable, affordable and practical flooring. It is made of synthetic materials such as PVC vinyl, fiberglass and a plasticizer, and is made in layers.
Key information and conclusions:
- Luxury vinyl tile segment dominated the vinyl flooring market and with a large share of 58.15% in 2020. This is mainly due to longer lasting and better performance compared to standard vinyl tile. Additionally, the emergence of digital printing technology in the flooring industry has created lucrative growth opportunities for the luxury vinyl tile segment.
- Residential end-user segment accounted for the largest market share of 25.22% in 2020. Residential home construction and renovation applications are mainly driving the demand for vinyl flooring which is available in sheet, planks and tiles with features such as easy maintenance. and impact resistance.
- Regions analyzed for the market include North America, Europe, South America, Asia-Pacific, Middle East & Africa. The Asia-Pacific region has become the largest market in the vinyl flooring market with a large share of 42.15% in 2020. The significant growth in reasonable housing development expenditure in the Asia-Pacific region is the one of the major factors driving the growth of the market. In addition to this, countries like India and Indonesia are actively providing subsidies on construction and land costs, thus creating additional demand for vinyl flooring in the construction industry. The North America region is expected to grow at a significant CAGR during the forecast period, owing to the significant increase in per capita incomes as well as living standards.
Key Players Operating in the Global Vinyl Flooring Market Armstrong Flooring, Inc., Berkshire Hathaway Inc. (Shaw Industries Group, Inc.), CBC Co., Ltd. (CBC AMERICA LLC.), Congoleum Corporation, Mohawk Industries, Inc., Novalis Innovative Flooring, Gerflor, Mannington Mills, Inc. and Tarkett SA, among others. To improve their market share in the global vinyl flooring market, major vendors are now focusing on adopting prominent strategies such as recent developments, product innovation, mergers and acquisitions, joint ventures, collaborations and partnerships.
- For example, in December 2020, Mannington Mills, an international flooring manufacturer, partnered with Microban, an antimicrobial consumer brand. Through this partnership, Mannington Mills will integrate surface protection technology into its ADURA LVT products.
- In September 2018, MS International, Inc., the leading provider of premium surfaces in the United States, launched Everlife Luxury Vinyl Tile (LVT), the line of Luxury Vinyl Tile (LVT).
- In January 2021, Mohawk Industries, the world’s leading manufacturer of residential and commercial flooring products, announced the expansion of its production facility in Carroll County. The company will add 19,000 square feet. feet at its Hillsville plant and installing new extrusion and loom equipment to increase production speed.
- In March 2021, Mohawk Group expanded Living Local, the domestically manufactured 2.5mm LVT platform. This expansion includes four new 12 X 24 designs featuring terrazzo, stone and abstract textile visuals complementing the existing 6 X 48 wood. These new styles should provide designers with increased flexibility to create unique and dynamic spaces.
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Global Vinyl Flooring Market by Product:
- Luxury Vinyl Tile
- Vinyl sheets and vinyl composite tiles
Global Vinyl Flooring Market by End User:
- Health care
Global Vinyl Flooring Market by Region:
- North America
- Asia Pacific
- South East Asia
- South America
- Middle East and Africa
- United Arab Emirates
- South Africa
- Saudi Arabia
About the report:
This research report provides in-depth data on the major factors influencing the growth of the Vinyl Flooring Market at country and local level, market size forecast, in terms of value, market share by region and segment ; regional market positions; growth opportunities by segment and by country; Key company profiles, SWOT, product portfolio and growth strategies. It studies essential aspects of the market such as major participants, expansion strategies, business models, and other market characteristics to enhance understanding of the market.
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