Vinyl Flooring Industry Key Global Industry Strategies, Size, Growth, Share, Application, Segmentation, Trends and Opportunities Forecast to 2028

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Global Vinyl Flooring Market – Synopsis

The global vinyl flooring market value is recorded at USD 32.37 billion and is expected to grow at a significant rate of 6.8% CAGR with the vinyl flooring market size of USD 51.45 billion at during the forecast period 2021-2028. Vinyl is a proven economical and durable solution for flooring attracting more consumers and therefore perceiving wide adoption. Easy-to-repair and maintenance-free vinyl flooring is finding diverse adoption in the non-residential segment. Consumers are paying more and more attention to the aesthetic value of interiors, preferring low-maintenance products. All these factors define the growth of the upsurge market. Additionally, the carpets and flooring found in several government buildings and facilities around the world feature enhanced aesthetic value and durability to last a long time.

Expanding infrastructure development activities along with improving economic conditions across the globe are mainly driving the growth of the market. Additionally, the properties offered by vinyl flooring such as waterproofing and microbial protection adding a touch to the decorative finish are driving the growth of the market. This is supported by increasing urbanization in developing economies like India and China, coupled with increasing commercial facilities, which generate growth opportunities for the vinyl flooring market.

Although it offers a range of benefits, vinyl is still not so safe for the environment. For example, it is a manufacturing process that requires non-renewable natural resources like oil/natural gas. Additionally, some toxic chemicals used in the process can cause a toxic aftergassing facility releasing VOCs nearby, leading to eye irritation, asthmatic conditions, and respiratory problems. However, advancements in technology are expected to present a more sustainable and eco-friendly approach to production processes, further presenting vinyl as an environmentally friendly product in the recent future. This will definitely allow vinyl to develop rapidly and gain more attention and prominence in the global market.

On the other hand, vinyl flooring cannot support heavy loads and gets damaged with sharp objects. Direct sunlight can fade its colors and extreme temperatures can easily damage it. These factors along with the lack of awareness about the benefits of vinyl flooring among end users could act as a barrier to the growth of the vinyl market.

Gerflor Group, Mohawk Industries Convenience, Mannington Mills Inc., Armstrong Flooring Inc., Tarkett Group, Shaw Industries Group Inc., Interface, Inc., Polyflor Ltd and TOLI Floor Corporation, are some of the major players in the global flooring market vinyl flooring. By profiling them in its analysis, MRFR uncovers their business strategies that put them at the forefront of the market.

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Global Vinyl Flooring Market – Competitive Landscape

The vinyl flooring market appears to be extremely competitive and fragmented with the many well-established operations in the market. They compete on quality, price, brand image, and extensive customer service. Due to low product differentiation and the availability of many similar products in the market, players aim to enhance brand recall through effective marketing communications. The strong growth potential demonstrated by the market should attract several new entrants, making the market more competitive.

Innovation/ Industry/ Related News:

January 31, 2018 — DuChâteau® (USA), a leading inventive lifestyle brand specializing in the manufacture and design of luxury architectural materials for flooring, wall coverings, etc., has launched its collection of Innovative luxury vinyl at the International Surface Event, Las Vegas.

January 25, 2018 — The Tarkett group (Paris), a global manufacturer of luxury vinyl tiles has announced its expansion plans with investments of 60 million dollars over the next three years. The company is expanding its LVT (luxury vinyl tile) production plants in Alabama (USA), Ala and Florence, and is also building a new distribution complex to boost production and sales in the vinyl tile industry. flooring, one of the fastest growing sectors. The company is confident that these investments would significantly optimize their equipment, increase local production capacity, improve the company’s supply chain competence and customer service.

February 01, 2018 — GrowLife, Inc. (USA), North America’s leading manufacturer of indoor growing products and services, together with its subsidiary GrowLife Innovations, introduced their line of the finest and most eco-friendly vinyl flooring products of the environment (Brand — FreeFit) at “SURFACES” (the international surface event), Las Vegas. The luxury vinyl product — FreeFit™ has patented technology that has made it the preferred choice of hospitals and schools due to its sanitary surface area.

Browse the full report for better understanding https://www.marketresearchfuture.com/reports/vinyl-flooring-market-2055

Global Vinyl Flooring Market – Segmentation

For the convenience of the report, the report is divided into 3 key segments.

By product:Includes luxury vinyl tiles, vinyl sheets, printed vinyl, carpets and more.

By app:Non-residential, residential, commercial and others.

By Regions:North America, Europe, APAC and rest of the world.

Global Vinyl Flooring Market – Regional Analysis

Asia-Pacific is the largest market for vinyl flooring and is expected to still lead the global market. The booming construction and real estate market coupled with the changing lifestyle and consumer preferences are contributing to the growth of the market. Likewise, the increase in population in the region sets the important landscape for infrastructure development, with the increased demand for the new leading to increase in market size.

On the other hand, the North American market is collecting accruals due to the growth of educational and commercial industries coupled with technological advancements that allow the material to demonstrate properties such as high durability, hygiene, cost effectiveness and lack of maintenance.

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