Global Stone Plastic Composite Flooring Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Stone Plastic Composite Flooring Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Stone Plastic Composite (SPC) Flooring, sometimes called stone polymer composite flooring, is comprised of mostly limestone with a mix of polyvinyl chloride and stabilizers. The high limestone content makes SPC incredibly dense, durable, and highly resistant to impact and indentation. Stone plastic composite is waterproof, which allows it to resist cupping and peeling. It can be installed in laundry rooms, bathrooms, basements, kitchens, and other areas prone to moisture or temperature changes. It is low maintenance and its durability makes it ideal for high-traffic commercial flooring applications.

Market Overview:

The latest research study on the global Stone Plastic Composite Flooring market finds that the global Stone Plastic Composite Flooring market reached a value of USD 5663.73 million in 2022. It’s expected that the market will achieve USD 11968.19 million by 2028, exhibiting a CAGR of 13.28% during the forecast period.

Due to the COVID-19 pandemic, the global Stone Plastic Composite (SPC) Flooring market size is estimated to be worth US$ 5663.73 million in 2022 and is forecast to a readjusted size of US$ 13308.16 million by 2029 with a CAGR of 12.98% during the review period. Fully considering the economic change by this health crisis, Recycled PVC Type accounting for 25.38% of the Stone Plastic Composite (SPC) Flooring global market in 2022, is projected to value US$ 3289.21 million by 2029.

Excellent performance

The market penetration of SPC flooring is increasing rapidly due to its excellent performance. Cleanliness, cost competitiveness, and breadth of styles, designs, and sustainable options are the key drivers that will support the growth of SPC flooring in the future. The demand for SPC flooring is increasing due to zero formaldehyde emission, zero volatile organic compounds, stain resistance, slip resistance, superior stability, fire resistance, etc. SPC flooring realizes the substitution of traditional flooring materials in the low grade with its realistic appearance, quick installation and maintenance, excellent waterproof and durability performance, and reliable environmental protection. It is a green decoration material and will not cause harm to human body. SPC flooring is an economical floor material, and consumers can enjoy the texture of wood grain or stone grain in use without being disturbed by noise. In LVT flooring, the higher cost performance makes SPC realize the partial replacement of WPC. There is no big difference between SPC and WPC in terms of appearance, both of them can do imitation of stone, ceramic, wood, carpet and other textures with the help of digital printing technology. Since the core layer of SPC flooring consists of limestone, it is denser and durable compared to WPC flooring. The high density makes SPC more resistant to scratches and dents than WPC, which contains a foaming agent and has better sound absorption properties. Many manufacturers are now also adding acoustic backing to SPC flooring, so SPC can also provide acoustic performance.

Abundant alternative products and fierce competition in the market

There is a wide variety of flooring materials and they are substitutes for each other. Floor coverings mainly include carpet, LVT, ceramic tile, hardwood, stone, vinyl plank & tile, laminate flooring, other resilient materials, etc. At the same time, there are many enterprises engaged in SPC flooring production and export, and a large number of small and medium-sized enterprises with small business scale and weak R&D and sales capabilities exist, with low industry concentration and serious homogenization competition. The overall gross profit margin of the industry is relatively high, attracting more participants to enter the industry. On the other hand, competitive enterprises continue to expand their production capacity, and market competition will intensify in the future. There is a risk of product price decline, which may affect the company's performance.

Region Overview:

India had the highest growth rate of all regions in 2022.

In 2022, the share of the Stone Plastic Composite Flooring market in United States stood at 41.03%.

Company Overview:

AHF Products is one of the major players operating in the Stone Plastic Composite Flooring market, holding a share of 4.76% in 2023.

AHF Products

AHF Products is a manufacturer and distributor of wood flooring products intended to serve the residential and commercial markets. The company offers solid wood, engineered wood and stone-polymer composite (SPC) flooring products that are sold through full-line flooring distributors, big-box home centers, national flooring retailers and hardwood specialty distributors under well-known brands.

Mohawk

Mohawk manufactures a wide range of flooring products, including carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring. Its operating segments include Global Ceramic, Flooring NA, and Flooring ROW.

Segmentation Overview:

Recycled PVC: This type of SPC flooring is made from recycled PVC material, which is typically sourced from post-industrial or post-consumer waste.

Non-recycled PVC: This type of SPC flooring is made from new, virgin PVC material.

The Non-recycled PVC Type segment by type showed a value growth of 9.0% in 2022.

Among different product types, Non-recycled PVC Type segment is anticipated to contribute the largest market share in 2028.

Application Overview:

Residential Use: It is commonly used in high-traffic areas such as entryways, hallways, and kitchens, as well as in bathrooms and basements where moisture resistance is important.

Commercial: SPC flooring is also widely used in commercial applications due to its durability and resistance to wear and tear. It is commonly used in high-traffic areas such as retail stores, restaurants, and offices, as well as in healthcare and education settings.

By application, the Residential Use segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Stone Plastic Composite Flooring market covered in Chapter 3:

Taizhou Huali New Materials
Zhejiang Hailide New Material
Zhengfu Plastic
Zhejiang Qide New Materials
Zhejiang Kingdom
Mannington Mills
Zhejiang Walrus New Material
CFL Flooring
AHF Products
Zhangjiagang Yihua Plastics
Zhejiang Oufei New Material
Mohawk
Tianzhen Bamboo Flooring
Zhejiang GIMIG Technology

In Chapter 4 and Chapter 14.2, on the basis of types, the Stone Plastic Composite Flooring market from 2018 to 2029 is primarily split into:

Recycled PVC Type
Non-recycled PVC Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Stone Plastic Composite Flooring market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)