Vinyl Flooring Market Size Worth USD 80.72 Billion in 2032 | Emergen Research

The global vinyl flooring market size was USD 36.20 Billion in 2022 and is expected to register revenue CAGR of 8.4% during the forecast period. The global vinyl flooring market is experiencing steady growth attributed to the flourishing construction industry and rapid technological advancements in flooring solutions. A recent market research report highlights key drivers, trends, and segment insights shaping the industry landscape.

Market Drivers:

The burgeoning construction sector, both residential and commercial, serves as a primary catalyst for the rising demand for vinyl flooring. Its durability, low maintenance, and eco-friendly nature make it a preferred choice for various applications. Notably, vinyl flooring finds extensive usage in high-traffic areas due to its resilience and aesthetic appeal.

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Market Trends:

Technological innovations have propelled the resurgence of vinyl planks, offering consumers a blend of style, durability, and affordability. Additionally, luxury vinyl tiles (LVT) have garnered significant attention owing to their easy installation process and resistance to water and stains. The market is witnessing a shift towards customizable solutions, meeting diverse consumer preferences.

Market Restraints:

Fluctuating raw material prices and stringent regulations regarding Volatile Organic Compounds (VOCs) pose challenges to market growth. However, industry players are actively addressing these concerns through sustainable practices and product innovations.

Market Segment Insights:

1. Vinyl Flooring Product Types:

• Luxury Vinyl Tiles (LVT): Dominating the market share, LVTs offer comfort, resilience, and aesthetic appeal, replacing traditional flooring options.

• Vinyl Sheets: Anticipated to register rapid growth, vinyl sheets provide practical and cost-effective solutions for high-traffic spaces.

2. End-Use Segments:

• Commercial: Witnessing significant growth, vinyl flooring caters to the demands of businesses, hotels, and retail centers, driven by its durability and aesthetic versatility.

• Residential: Expected to exhibit substantial growth, fueled by increasing single-family home constructions and rising consumer disposable income.

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Key Market Players:

Leading manufacturers are focusing on product innovation and customization to meet evolving consumer needs. Companies such as Armstrong Flooring and Gerflor Group are introducing advanced vinyl flooring collections, enhancing durability and design aesthetics.

Outlook:

The global vinyl flooring market is poised for continued growth, propelled by the construction industry's expansion and technological advancements. Despite challenges posed by raw material prices and regulatory constraints, industry players are committed to fostering sustainability and meeting consumer demands for eco-friendly flooring solutions.

Vinyl Flooring Top Companies and Competitive Landscape

The global vinyl flooring market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective vinyl flooring products.

• Armstrong Flooring, Inc.
• Tarkett SA
• Mohawk Industries, Inc.
• Gerflor Group
• Mannington ills, Inc.
• Shaw Industries Group, Inc.
• Interface Inc.
• Congoleum Corporation
• Forbo Holding AG
• Polyflor Ltd.
• Beaulieu International Group
• LG Hausys Ltd.
• Fatra A.S.
• Cali Bamboo, LLC
• Flooret

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Vinyl Flooring Latest Industry News

• In 2020, Armstrong Flooring, Inc. launched its premium vinyl tile flooring, Vivero. It is made to resemble real hardwood floors in both appearance and texture. The corporation also declared that it has sold its Vinyl Composition Tile (VCT) division to Mannington Mills, Inc.

• In 2021, Tarkett SA introduced a new line of vinyl flooring products under the name iD Revolution. These products are 100% recyclable and composed of recycled materials.

• In December 2021, to deliver natural-looking flooring with improved acoustic performance and durability, IVC Commercial, a Belgian flooring solutions producer and designer, created LayRed 55 LVT.

Vinyl Flooring Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global vinyl flooring market on the basis of product type, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
o Vinyl Sheets
o Vinyl Composition Tiles
o Luxury Vinyl Tiles
o Printed Vinyl
o Carpets
o Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Residential
o Commercial
1. Healthcare
2. Hospitality
3. Retail & Offices
4. Others
o Industrial

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of MEA

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