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

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

Stone plastic composite 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 (SPC) Flooring market finds that the global Stone Plastic Composite (SPC) Flooring market reached a value of USD 9052.41 million in 2022. It’s expected that the market will achieve USD 23460.09 million by 2028, exhibiting a CAGR of 17.2% during the forecast period.

Market Drivers

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. In terms of end product price, SPC is more cost effective than WPC.

Market Development Constraints

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:

North America had the highest growth rate of all regions.

Company Overview

Armstrong Flooring is one of the major players operating in the Stone Plastic Composite (SPC) Flooring market, holding a share of 4.63% in 2021.

Armstrong Flooring, Inc. produces flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient products in North America and the Pacific Rim. It operates the Resilient Flooring segment. The Resilient Flooring segment designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial buildings under various brands, including the Armstrong brand. It sells products through independent wholesale flooring distributors re-selling its products to retailers, builders, contractors, installers and others.

Taizhou Huali New Materials was established on 15th April, 2002. The product range includes Glue down LVT, Loose lay LVT, Regular LVT, Rigid LVT (SPC) &WPC with Valinge click system of 2G, 2G-FD &5G-C,5G-I.

Segmentation Overview:

By type, Professional Installation segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Residential Use segment occupied the biggest share from 2017 to 2022.

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

Zhangjiagang Yihua Plastics
Anji Tianzhen Bamboo Flooring
Armstrong Flooring
Zhejiang Hailide New Material
Zhejiang Oufei New Material
Tops Flooring
Taizhou Huali New Materials
Shanghai 3C Industrial
Zhejiang Walrus New Material
Mannington Mills
CFL Flooring
Jiangsu Kentier
Zhejiang GIMIG Technology
Muchsee Wood
Decno Group
Changzhou Lingdian
Kingdomflooring
Zhengfu Plastic
Alstone Industries
Jiangsu Zhengyoung Flooring

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

DIY Installation
Professional Installation

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

Commercial Use
Residential Use

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)