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At 7.5% CAGR, Global Vinyl Flooring Market Size to Hit USD 43.72 Billion by 2026 - Exclusive Report by Facts & Factors

According to a Facts and Factors, the Global Vinyl Flooring Market size was worth at around USD 26.36 billion in 2019 and is estimated to grow about USD 43.72 billion by 2026, at a CAGR of approximately 7.5% between 2020 and 2026. The key players are covered in the report are Tarkett S.A., Armstrong Flooring, Inc., Beaulieu International Group, Mannington Mills, Inc., Forbo Group, Shaw Industries Group, Inc., Mohawk Industries, Inc., and others.

/EIN News/ -- TOKYO, JAPAN, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Vinyl Flooring Market Size, Share Report By Product (Vinyl Tiles, Vinyl Sheets, and Luxury Vinyl Tiles), Application (Commercial, and Residential): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” in its research database.

The report analyses the Vinyl Flooring market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Vinyl Flooring market.

Vinyl Flooring Market Overview:

Vinyl flooring is a form of finished flooring that is made primarily of a limestone base material mixed with natural and synthetic polymers such as polyvinyl chloride and plasticizers. It is a form of durable and resilient flooring that is predominantly used in commercial and residential construction applications. Other factors that drive the market growth include the development of infrastructure in various areas such as retail, education, industrial automobile, and others, as well as the growth of home building and homeowners. In terms of volume, the vinyl sheets & vinyl composite tile category of the vinyl flooring industry accounted for over half of the global market in 2019.

Luxury vinyl tile, on the other hand, is expected to rise at the fastest rate in 2019, surpassing vinyl sheet and vinyl composite tile. As compared to other conventional materials like wood, marble, and concrete, luxury vinyl tile (LVT) offers superior design capabilities due to the flexibility of its graphic layer. It's a popular choice in commercial settings like workplaces, retail, and hospitality.

Water-resistance is an advantage of vinyl sheets and vinyl composite tiles. They're also easy to clean, which is why they're used in healthcare and educational buildings. Furthermore, the shock-absorbing and cushioning properties of vinyl floor tiles have increased their use in sports surfaces, sports facilities, and gymnasiums.

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Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2020 updated report.
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2020
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis
  • Facts and Factors research methodology

Key Insights from Primary Research

  • As per the analysis, the Vinyl Flooring market is likely to grow above a CAGR of around 7.5% between 2020 and 2026.
  • The Vinyl Flooring market size was worth around US$ 26.36 Billion in 2019 and is estimated to hit approximately US$ 43.72 Billion by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Based on product segmentation, luxury vinyl tiles will be the leading segment of the vinyl flooring industry.
  • Based on application segmentation, the commercial application segment held the largest share of the vinyl floor market, with sales expected to rise at a significant CAGR over the forecast period.
  • On the basis of region, Asia-Pacific had the leading market growth over the forecast period because of the increasing number of construction activities, shifting customer tastes, and the desire to improve the aesthetics of the property.

Market Growth Drivers

  • Rising Demand for Lightweight Material in Construction Industry

The rising need for low-maintenance, cost-effective, and portable building materials in residential construction is anticipated to be the primary factor driving the growth of the vinyl floorings market throughout the course of the projected period. It is anticipated that the market would grow as a result of the growing demand for the commodity in locations that experience high foot traffic, such as homes and commercial places. The item is regarded as a less expensive substitute for carpet and wooden tiles because of its low price.

Additionally, due to the greater convenience and noise control offered by these floors, it is anticipated that demand for them in multi-story structures will increase during the time period in question. In recent years, the expansion of the sector has been supported by technological advancements made by manufacturers, specifically the advent of self-adhesive floorings. Additionally, key manufacturers are increasing their investments to deliver personalised product solutions in a variety of colours, design patterns, textures, and dimensions, which is boosting product penetration in the construction industry. This is a result of the growing demand for customised products in this sector.

The longevity of this product is significantly lower than that of its predecessors made of wood. The items cannot be repaired, and there is a high cost associated with replacing them. Many people believe that vinyl flooring is less environmentally friendly than its non-resilient competitors because it generates volatile organic compounds (VOCs) and is difficult to recycle. It is predicted that the influences discussed above will slow the growth of the market throughout the course of the projected period.

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Competitive Players

The report contains qualitative and quantitative research on the global Vinyl Flooring Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the main players in the global Vinyl Flooring market include:

  • Tarkett S.A.
  • Armstrong Flooring, Inc.
  • Beaulieu International Group
  • Mannington Mills, Inc.
  • Forbo Group
  • Shaw Industries Group, Inc.
  • Mohawk Industries, Inc.

Vinyl Flooring Market: Segmentation Analysis

In 2020, luxury vinyl tiles will be the leading segment of the vinyl flooring industry. In contrast to regular vinyl tiles, luxury vinyl tiles are more durable and perform better, giving it an edge over its competitors. Since the product is available in a variety of designs and textures, the Luxury Vinyl Tiles category has piqued market interest in recent years. Over the forecast period, the implementation of digital printing to the flooring industry, which allows for easy texture printing on such tiles, is expected to help market growth. In 2018, the commercial application segment held the largest share of the vinyl floor market, with sales expected to rise at a significant CAGR over the forecast period. Commercial building markets such as restaurants and shopping centers are likely to be the primary consumers of these tiles because they are both cost-effective and attractive.

The growing influence of designers and architects in the use of vinyl flooring in commercial applications is expected to drive up demand for the product. These products' ease of maintenance and sterilization, as well as their trendy designs and slip and water resistance, are expected to drive their demand in commercial applications over the forecast period.

Browse the full “Vinyl Flooring Market By Product (Vinyl Tiles, Vinyl Sheets, and Luxury Vinyl Tiles), Application (Commercial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/vinyl-flooring-market

Regional Analysis:

Asia-Pacific had the leading market growth over the forecast period in 2020, and this trend is expected to continue throughout the forecast period. The demand is primarily driven by the increase in the number of healthcare, academic, and manufacturing infrastructures being built in India and China.

Furthermore, as the population grows, disposable income rises, and lifestyles shift, the demand for changed and improved home construction increases, necessitating the renovation and development of family homes, residences, and condominiums. This factor contributes to the market's expansion in this area. Furthermore, India and China are experiencing growth in a variety of industries, including sports, automobile, hospitality, and others, which is driving up demand for vinyl flooring. Over the forecast period, demand for vinyl flooring in the United States is projected to rise at a significant CAGR.

Report Scope:

Report Attribute Details
Market Size in 2019 USD 26.36 Billion
Projected Market Size in 2026 USD 43.72 Billion
CAGR Growth Rate 7.5% CAGR
Base Year 2019
Forecast Years 2020-2026
Key Market Players Tarkett S.A., Armstrong Flooring, Inc., Beaulieu International Group, Mannington Mills, Inc., Forbo Group, Shaw Industries Group, Inc., Mohawk Industries, Inc., and others
Key Segment by Product,  Application, and by Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global Vinyl Flooring market is segmented as follows:

By Product:

  • Vinyl Tiles
  • Vinyl Sheets
  • Luxury Vinyl Tiles

Application

  • Commercial
  • Residential

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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