Global Vinyl Flooring Market Report and Forecast 2023-2028

Global Vinyl Flooring Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global vinyl flooring market is projected to grow at a CAGR of 5% between 2023 and 2028. Aided by the increasing demand for durable and cost-effective flooring options and the versatile applications of vinyl flooring across various sectors, the market is expected to grow significantly by 2028.

Vinyl flooring is a popular choice among consumers due to its durability, water-resistance, and ease of installation. It plays a vital role in both residential and commercial spaces, offering a variety of design options. Vinyl flooring is popular for its outstanding resilience and low care requirements in addition to its visual appeal, making it a practical option for high-traffic areas.

The increasing consumer preference for durable and cost-effective flooring is driving the global vinyl flooring market growth. As consumers become more aware of the long-term benefits associated with durable flooring, there has been a significant shift towards vinyl flooring options. Additionally, the increasing trend of home renovations and interior decoration has further contributed to the increasing popularity of vinyl flooring, as it offers a wide range of designs and styles to choose from.

The broad applications of vinyl flooring across various sectors also play a significant role in fuelling the vinyl flooring market expansion. Due to its water resistance and low care requirements, vinyl flooring is frequently utilised in homes' kitchens, bathrooms, and living spaces. Vinyl flooring is used in the commercial sector in places like offices, shops, and hotels since it is long-lasting and versatile in terms of appearance.

Additionally, there is a greater emphasis on vinyl flooring as a result of the growing demand for eco-friendly flooring solutions in the building and construction sector. The vinyl flooring market has increased as a result of manufacturers' ability to make vinyl flooring with less environmental effect due to developments in technology and production methods.

Technological innovations in vinyl flooring production are expected to further stimulate the vinyl flooring market development. Developments in printing technology have allowed for more realistic designs and textures on vinyl flooring, improving its aesthetic appeal. Furthermore, improvements in the composition of vinyl flooring have led to enhanced durability and resilience, adding to its overall value proposition.

Market Segmentation

The market can be divided based on product type, sector, and region.

Market Breakup by Product Type

• Vinyl Sheet
• Luxury Vinyl Tile (LVT)
• Vinyl Composition Tile (VCT)

Market Breakup by Sector

• Residential
• Commercial

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global vinyl flooring companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Mohawk Industries, Inc.
• Tarkett S.A.
• AFI Licensing LLC
• Shaw Industries Group, Inc.
• Mannington Mills, Inc.
• Gerflor
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.