Vinyl Flooring Market to register a healthy CAGR for the forecast period, 2015-2025
Growing consumer attention in decorating their houses. Increasing preferences towards environment friendly products are also responsible for driving this market. Can be used in kitchen, bathroom, laundry room, anywhere since it is easy to fix and maintain.
Vinyl Flooring Market: Drivers & Restraints
Growing consumer demand of residential floorings and increasing purchasing power is raising the global vinyl flooring market. Its cost effectiveness and environment friendly nature of the consumers is inducing more and more consumers, ultimately increasing the global vinyl flooring market.Nominal maintenance and increased strength and durability are some of the major reasons why these surface floorings are also preferred in non-residential market. Technological advancement also playing an enormous role to stay ahead in the competition.
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The major challenge of the global vinyl flooring market is that it needs a higher level of skill to install it which needs a specific training. The manufacturers are responsible to offer extensive factory training for professional installers. If not installed properly it can lead to some problems like wrong patching, irregular surface and cracking.
Vinyl Flooring Market: Segmentation
On the basis of component type the global vinyl flooring market can be broadly segmented into Polyvinyl Chloride (or vinyl) Resins, Plasticizers, a Carrier sheet or Backing, Pigments & Trace Stabilizers.
On the basis of product type the global vinyl flooring market can be broadly segmented into Printed Vinyl and Inlaid Vinyl
On the basis of format type global vinyl flooring market is broadly segmented into includes Vinyl Sheet; Vinyl Tile; and Luxury Vinyl Tile, which is comparatively new and the most high end vinyl flooring
Vinyl Flooring Market: Region-wise Outlook
Global Vinyl flooring market is expected to register a favourable growth which is backed by the growth of global decorative paints market that has grown noticeably in the last few years. APAC is considered to be one of the fastest growing market amongst others. The growing demand for vinyl flooring due to the rise in infrastructural projects, increasing growth in automobile industry, and urbanisation is responsible for raising the global vinyl flooring market. The growth in global vinyl flooring market is mostly affected by developing countries due to the increasing purchasing power. Also the increased commercial consumption of vinyl flooring in automotive, healthcare, manufacturing, retail and education is growing the global vinyl flooring market immensely.
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Price sensitive consumers of Asia are also very responsive to this affordable product which is directly raising the global vinyl flooring market. APAC is expected to be followed by Europe and North America.
Vinyl Flooring Market: Key Players
The market participants such as material suppliers, manufacturers and distributors play a key role in the supply chain of the industry. Some of the key market competitors are Mohawk, Gerflor, Armstrong, Mannington Mills Inc, and Shaw flor, Among many others.
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