India Vinyl Flooring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

India Vinyl Flooring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The India vinyl flooring market size reached US$ 1,151.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,756.9 Million by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2023-2028.

Vinyl flooring or resilient flooring is manufactured using a combination of synthetic and natural polymer materials, which are placed in repeating structural units. This versatile synthetic flooring material is water and stain resistant, and has numerous features including flexible handling, durability, design variations, etc. Owing to such favorable properties, it is widely used in schools, hospitals, offices and residential complexes. Additionally, vinyl flooring is cost-effective, comfortable to walk on and reduces the impact noise, owing to which it is frequently used as an alternative to carpet flooring that requires a higher-maintenance cost. Currently, advanced print and textural techniques are available in the market, which make it possible for vinyl flooring to duplicate the look of different flooring options such as hardwood, marble and stone.

Market Drivers:
In recent years, rising disposable income of consumers has enabled them to improve their lifestyle and invest in high-quality luxurious housing projects and infrastructural developments. Additionally, it is believed by the consumers that an appropriately decorated home is a symbol of social status, on account of which, they are experimenting with various flooring solutions such as vinyl flooring to enhance and maintain their social image.
With improvements in the national economic scenario, the construction industry is expected to witness healthy growth in the coming years. The renovation of urban areas in existing cities and the establishment of smart cities is further expected to catalyze the growth of the market. Furthermore, owing to India’s rapidly increasing population, there is expected to be an extensive demand for residential complexes, which will further drive the demand of this industry.
Nowadays, manufacturers are using advanced production methods and techniques to generate better designs and enhance the performance of the product. Due to these advancements, vinyl floorings with higher resolutions and sharper textures are now being manufactured. In addition to this, manufacturers have also simplified the installation process by incorporating self-adhesive, glue down and interlocking tiles along with loose lay planks.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India vinyl flooring market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on sector, segment, imports and domestic manufacturing, product type, LVT market breakup by type, LVT market breakup by application sector, Vinyl Sheet market breakup by contract type and Vinyl Sheet market breakup by application.

Breakup by Sector:

Residential
Commercial

Breakup by Segment:

Organized
Unorganized

Currently, unorganized segment dominates the vinyl flooring market in the country.

Breakup by Imports and Domestic Manufacturing:

Imports
Domestic Manufacturing

Currently, imported products dominate the Indian vinyl flooring market.

Breakup by Product Type:

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

Based on product type, the market has been segregated into vinyl sheet, luxury vinyl tile (LVT) and vinyl composition tile (VCT). Amongst these, vinyl sheet represents the largest segment.

LVT Market Breakup by Type:

Traditional LVT
WPC
SPC

LVT Market Breakup by Application Sector:
Commercial
Healthcare
Education
Hospitality
Retail
Corporate
Sports
Others
Residential

Vinyl Sheet Market Breakup by Contract Type:

Semi-Contract Sheet Vinyl
Contract Sheet Vinyl
Others

Vinyl Sheet Market Breakup by Application:

Commercial
Healthcare
Hospitality
Transport
Education
Sports
Retail
Others
Residential

Competitive Landscape:
The market is fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices and quality. The report provides the competitive structure of the industry and market shares of the leading manufacturers in the domestic as well as imports market.

IMARC Group’s latest report provides a deep insight into the Indian vinyl flooring market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a vinyl flooring manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian vinyl flooring industry in any manner.

Key Questions Answered in This Report

1. What was the size of the India vinyl flooring market in 2022?
2. What is the expected growth rate of the India vinyl flooring market during 2023-2028?
3. What are the key factors driving the India vinyl flooring market?
4. What has been the impact of COVID-19 on the India vinyl flooring market?
5. What is the breakup of the India vinyl flooring market based on the sector?
6. What is the breakup of the India vinyl flooring market based on the segment?
7. What is the breakup of the India vinyl flooring market based on the imports and domestic manufacturing?
8. What is the breakup of the India vinyl flooring market based on the product type?