Vinyl Flooring Market By Product (Luxury Vinyl Tile And Vinyl Sheets & Vinyl Composite Tile) End-User Analysis And Industry Forecast To 2023 | Top Key Players Armstrong World Industries, Inc., Berkshire Hathaway Inc
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Due to the increased durability, strength, and low-maintenance, vinyl floorings are preferred in non-residential construction of structures related to office space, shopping malls, resorts, and hotel accommodation. Thus, strong growth in office, retail, and industrial construction activity is the major factor, which contributes to the increase in demand for vinyl flooring. In addition, due to its superior properties such as water-resistant nature, ease of cleaning, and ability to improve indoor air quality, vinyl flooring is often the product of choice for flooring in many of modern health care and educational infrastructures, thereby driving the market.
In the past decade, manufacturers have released an impressive spread of new vinyl products, which includes vinyl sheet, luxury vinyl tile (LVT), and vinyl composite tile (VCT). These materials are available in several colors, sizes, shapes, and patterns, and are utilized in making new and innovative decorative designs. Thus, growth in consumer attention in decorating and renovating their houses also supports the growth of the vinyl flooring market. However, vinyl is the most toxic chemical for health and environment as it releases some of the most toxic volatile chemicals that are linked to cancer, birth defects, respiratory problems, and other serious chronic diseases. Leading health, environmental justice, and health-impacted organizations across the world such as United States Environmental Protection Agency (EPA), U.S. Department of Agriculture (USDA), and National Sanitation Foundation (NSF), and others have drafted stringent regulations, which restricts the market growth.
Growth in population, rise in investment in real estate, and high disposable income increase the demand for residential construction in the past few decades. In addition, industrial development resulting into urbanization and expansion of new cities and town has increased the demand for residential places such as family homes, apartments, and condominiums. Factors such as growth in number of residential construction and homeowners are expected to provide lucrative opportunities for the vinyl flooring market in the upcoming years.
The vinyl flooring market is segmented into product, end-user industry, and region. Based on product, the market is classified into luxury vinyl tile and vinyl sheets & vinyl composite tile. By end-user industry, the market is divided into residential, healthcare, retail, education, sports, hospitality, offices, industrial, and automotive. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key Players : Armstrong World Industries, Inc., Berkshire Hathaway Inc., CBC Flooring, Congoleum Corporation, Forbo Holding AG, Tarkett S.A., Mannington Mills, Inc., Mohawk Industries, Inc., Gerflor SAS, and IVC Group.
Other prominent players : Milliken & Company, Inc., Novalis Innovative Flooring, TOLI Corporation, NOX Corporation, Interface, Inc., Pergo AB, Polyflor Ltd, LG Hausys, Beaulieu International Group
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KEY MARKET SEGMENTS
• Luxury Vinyl Tile
• Vinyl Sheets & Vinyl Composite Tile
By End-user Industry
• North America
KEY BENEFITS FOR STAKEHOLDERS
• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global vinyl flooring market from 2016 to 2023 to identify the prevailing market opportunities.
• The key countries in all the majors regions are mapped based on their market share.
• Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier‐buyer network.
• In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes in details the analysis of the regional as well as global market, key players, market segments, and application areas, and growth strategies.
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