PVC Floor Market Strategic Developments 2022-28

According to Precision Business Insights (PBI) latest report, the PVC Floor Market is expected to be worth USD 27,836.9 million in 2022, growing at a 5.8% CAGR from 2022 to 2028. The PVS floor market is driven by factors such as rising disposable income for customers, changing lifestyles and increasing investment in decorating their homes, and rising demand for housing maintenance. In addition, the adoption of innovative flooring solutions such as vinyl flooring can uplift their social image. This flooring is suitable for living rooms, kitchens, bedrooms, bathrooms, basements, bedrooms, and laundry rooms. All these factors are driving the product demand in residential construction areas. Moreover, shifting consumer preferences for interior design, renovation, and remolding are changing the building appearance in commercial and residential areas. The ease of installation and lower cost drive the PVC floor market.

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Commercial Segment Dominates the PVC Floor Market:
The commercial segment is expected to account for a larger revenue share in the global PVC Floor Market with value share in the global market and is projected to grow at 73.2% CAGR over 2022 and 2028. PVC flooring is a long-lasting option for business establishments. Hospitals, schools, offices, and hotel lobbies all use it. Due to material and design advancements, it has been widely adopted in various settings. PVC floors are also UV and water-resistant, and technological developments in printing techniques have opened up a world of design possibilities.

Europe Leads PVC Floor Market:
Europe is expected to hold the 21.7% market share in the global PVC Floor Market in the forecast period, and it is projected to grow at a CAGR of 5.9% in the coming years. Due to an increase in the number of reconstruction and maintenance activities in residential and commercial properties. In addition, the region's market growth is predicted to be boosted by an increase in the number of new housing units and expanding infrastructure investments.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Global PVC Floor Market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In January 2021, Forbo Flooring Systems developed new collections named Sarlon and Modul up that are compact glued or fully loose laid and offer acoustic resistance, it has range about, 90 design and colours to enhance the dynamic of building.

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The pvc floor market is segmented based on product type, composition, end-use, and geography.
Based on the product type, the market is segmented into the following:
• Sheets
• Vinyl Tiles (VT)
• Luxury Vinyl Tiles (LVT)

Based on the equipment, the market is segmented into the following:
• Homogenous
• Heterogeneous

Based on the distribution channel, the market is segmented into the following:
• Commercial
• Residential

Based on geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the PVC Floor Market report are Armstrong Flooring, Forbo Flooring Systems, Gerflor, Hyundai L&C, LG HAUSYS, Mannington Mills, Inc., Mohawk Industries, Inc., Polyflor Ltd, Shaw Industries Group, and Tarkett.

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