Vinyl Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global vinyl flooring market size reached US$ 46.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 79.2 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028.
Vinyl flooring is made by combining natural and synthetic polymer materials, which are glued together to provide a long-lasting, practical, and economical floor covering. It is versatile, easy to install and highly resistant to water and stains. It is available in various looks, patterns, and colors, such as simulated stone, tile, and wood grain. In addition, it is easy to maintain as it has a resilient protective coating that safeguards vinyl flooring from dirt and scratches. Apart from this, as it is a popular alternative to higher-maintenance floorings like carpet, vinyl flooring finds extensive applications in the healthcare, industrial, residential, hospitality, education, and retail sectors.
Vinyl Flooring Market Trends:
At present, there is a rise in the construction of luxurious housing projects across the globe. This, along with the inflating income levels of individuals, represents one of the key factors driving the market. Moreover, there is an increase in the demand for low maintenance, cost-efficient, and lightweight construction materials worldwide. This, coupled with the rising utilization of vinyl flooring in offices and other commercial spaces, is propelling the growth of the market. In addition, the growing demand for low-maintenance flooring solutions among the masses is positively influencing the market. Besides this, the escalating demand for multifamily houses to accommodate the surging population around the world is offering lucrative growth opportunities to industry investors. Additionally, key market players are extensively investing in research and development (R&D) activities to provide customized product solutions in different colors, designs patterns, textures, and dimensions. In line with this, they are focusing on introducing self-adhesive floorings
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global vinyl flooring market report, along with forecasts at the global and regional levels from 2023-2028. Our report has categorized the market based on product type and sector.
Performance by Product Type:
Vinyl Sheet
Luxury Vinyl Tile (LVT)
Vinyl Composition Tile (VCT)
Luxury vinyl tile (LVT) is currently the most commonly used product as it is a low-cost alternative for tile or planks.
Performance by Sector:
Residential
Commercial
Presently, the residential sector dominates the market due to the rising demand for enhanced residential construction materials.
Performance of Key Regions:
Asia Pacific
North America
Western Europe
Eastern Europe
Latin America
Middle East and Africa
The Asia Pacific enjoys the leading position in the market on account of the growing demand for aesthetically appealing, durable, and easy to maintain floorings.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Mohawk Industries Inc., Tarkett Group, Armstrong World Industries, Inc., Shaw Industries, Inc., Mannington Mills, Inc., Beaulieu International Group, Gerflor Group, and Forbo Group.
Key Questions Answered in This Report
1. What was the size of the global vinyl flooring market in 2022?
2. What is the expected growth rate of the global vinyl flooring market during 2023-2028?
3. What has been the impact of COVID-19 on the global vinyl flooring market?
4. What are the key factors driving the global vinyl flooring market?
5. What is the breakup of the global vinyl flooring market based on the product type?
6. What is the breakup of the global vinyl flooring market based on the sector?
7. What are the key regions in the global vinyl flooring market?
8. Who are the key players/companies in the global vinyl flooring market?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Flooring Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Market Breakup by Region
- 5.4 Market Breakup by Segment
- 5.4.1 Hard Flooring
- 5.4.1.1 Stone
- 5.4.1.2 Ceramic
- 5.4.1.3 Hardwood
- 5.4.1.4 Vinyl
- 5.4.1.5 Wooden Laminates
- 5.4.2 Soft Flooring
- 5.4.2.1 Carpets
- 5.4.2.2 Mats
- 5.4.2.3 Rugs
- 5.5 Market Breakup by Sector
- 5.6 Market Forecast
- 6 Global Vinyl Flooring Market
- 6.1 Market Overview
- 6.2 Market Performance
- 6.2.1 Volume Trends
- 6.2.2 Value Trends
- 6.3 Impact of COVID-19
- 6.4 Price Analysis
- 6.4.1 Key Price Indicators
- 6.4.2 Price Structure
- 6.4.3 Price Trends
- 6.5 Market Breakup by Region
- 6.6 Market Breakup by Product Type
- 6.7 Market Breakup by Sector
- 6.8 Market Forecast
- 6.9 Value Chain Analysis
- 6.9.1 Raw Material Procurement
- 6.9.2 Manufacturing
- 6.9.3 Marketing
- 6.9.4 Distribution
- 6.9.5 Export
- 6.9.6 End-Use
- 6.10 SWOT Analysis
- 6.10.1 Overview
- 6.10.2 Strengths
- 6.10.3 Weaknesses
- 6.10.4 Opportunities
- 6.10.5 Threats
- 6.11 Porters Five Forces Analysis
- 6.11.1 Overview
- 6.11.2 Bargaining Power of Buyers
- 6.11.3 Bargaining Power of Suppliers
- 6.11.4 Degree of Rivalry
- 6.11.5 Threat of New Entrants
- 6.11.6 Threat of Substitutes
- 6.12 Key Market Drivers and Success Factors
- 7 Performance of Key Regions
- 7.1 Asia-Pacific
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 North America
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Western Europe
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Eastern Europe
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Latin America
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Middle East and Africa
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 8 Performance by Product Type
- 8.1 Vinyl Sheet
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Luxury Vinyl Tile (LVT)
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Vinyl Composition Tile (VCT)
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 9 Performance by Sector
- 9.1 Residential
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Commercial
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 10 Competitive Landscape
- 10.1 Competitive Structure
- 10.2 Production Capacities of Key Players
- 11 Vinyl Flooring Manufacturing Process
- 11.1 Product Overview
- 11.2 Detailed Process Flow
- 11.3 Various Types of Units Operations Involved
- 11.4 Mass Balance and Raw Material Requirements
- 12 Project Details, Requirements and Costs Involved
- 12.1 Land Requirements and Expenditures
- 12.2 Construction Requirements and Expenditures
- 12.3 Plant Machinery
- 12.4 Machinery Pictures
- 12.5 Raw Materials Requirements and Expenditures
- 12.6 Raw Material and Final Product Pictures
- 12.7 Packaging Requirements and Expenditures
- 12.8 Transportation Requirements and Expenditures
- 12.9 Utilities Requirements and Expenditures
- 12.10 Manpower Requirements and Expenditures
- 12.11 Other Capital Investments
- 13 Vinyl Flooring Manufacturing Plant: Loans and Financial Assistance
- 14 Vinyl Flooring Manufacturing Plant: Project Economics
- 14.1 Capital Cost of the Project
- 14.2 Techno-Economic Parameters
- 14.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 14.4 Taxation and Depreciation
- 14.5 Income Projections
- 14.6 Expenditure Projections
- 14.7 Financial Analysis
- 14.8 Profit Analysis
- 15 Key Players Profiles
- 15.1 Mohawk Industries Inc.
- 15.2 Tarkett
- 15.3 Armstrong World Industries, Inc.
- 15.4 Shaw Industries, Inc.
- 15.5 Mannington Mills, Inc.
- 15.6 Beaulieu International Group
- 15.7 Gerflor
- 15.8 Forbo
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