Author: Elena Anderson, Marketing Manager |
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The latest report by IMARC, titled “ Vinyl Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2 027
” " the global vinyl flooring market reached a value of US$ 42.47 Billion in 2021. Vinyl flooring is an indispensable flooring material formulated by blending natural and synthetic polymer ingredients. It is manufactured by rolling, layering, and extruding the product with several compositions, including pigments, plasticizers, and polyvinyl chloride resin, to offer a long-lasting covering. As compared to conventional higher-maintenance floorings, such as carpets, vinyl flooring is more cost-effective, durable, easy to install, versatile, and moisture-resistant, and requires lower maintenance. Apart from this, the protective coating safeguards the product from dirt and scratches and enhances the overall appearance of the space. At present, it is mainly available in several looks, patterns, and color combinations.
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One of the major factors driving the global vinyl flooring market growth is the ongoing construction activities across the globe. Such activities have facilitated the demand for lightweight, slip and stain-resistant, and aesthetically appealing floor covering for interiors. This is further supported by rapid urbanization, changing consumer preferences, a rising number of luxurious housing projects, and significant investments in infrastructure development, renovation, and remodeling of existing spaces. In line with this, rising environmental concerns have prompted governments to promote the uptake of sustainable construction resources, such as bio-based vinyl flooring, to mitigate volatile organic compounds (VOCs), which is acting as another growth-inducing factor. Additionally, the widespread adoption of upgraded solutions by manufacturers to optimize vinyl flooring production procedures and introduce self-adhesive flooring solutions in different designs, textures, and dimensions, are contributing to the market growth. The market growth is also influenced by the extensive uptake of diverse printing solutions, which further enables easy texture printing on tiles. Other factors, including the growing need for multifamily houses and strategic collaborations amongst key players to enhance vinyl flooring comfort and noise-controlling efficacy, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 72.89 Billion by 2027, growing at a CAGR of 9.20% during 2022-2027.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
Market Summary:
Performance by Product Type:
•VinylSheet
•LuxuryVinylTile(LVT)
•VinylCompositionTile(VCT)
Performance by Sector:
•Residential
•Commercial
Performance of Key Regions:
•AsiaPacific
•NorthAmerica
•WesternEurope
•EasternEurope
•LatinAmerica
•MiddleEastandAfrica
Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report.
ShawIndustriesInc.
ManningtonMillsInc.
BeaulieuInternationalGroup
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