Opportunities for vinyl flooring in the global construction industry

According to a new market report published by Lucintel, the future of the global vinyl flooring market looks good with opportunities in the residential and commercial building construction markets. The global vinyl flooring market is forecast to grow at a CAGR of 3.3% from 2015 to 2020. The major drivers for this market are the growth of the global construction industry and renovation activities. Vinyl floor are durable, easy to maintain and more moisture-resistant than many alternative materials.

In this market, vinyl sheet, luxury vinyl tiles, and vinyl composition tiles are some of the major product forms used for residential and commercial construction applications. Vinyl sheet is the largest segment by product forms and is expected to remain the same during the forecast period. Lucintel predicts that the demand for luxury vinyl tiles is likely to experience the highest growth during the forecast period supported by their aesthetic feature, durability, minimal maintenance requirements, and ease in installation properties. On the basis of comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period.
Within the vinyl flooring in construction industry, the commercial segment is expected to remain the largest market. Increasing demand for vinyl flooring in hospitals, offices, hotels, and educational institutes is expected to spur growth for this segment over the forecast period.
APAC is expected to remain the largest market due to the growth in the construction industry and changing lifestyle.
North America is expected to witness the highest growth over the forecast period because of growing residential and commercial construction activities.
For market expansion, the report suggests innovation and new product development where the unique characteristics of vinyl flooring can be capitalized. Some of the innovation areas in vinyl flooring could be in achieving higher strength, better aesthetics, and technological features.
Emerging trends in the global vinyl flooring market, which have a direct impact on the dynamics of the industry, include increasing demand for tiles with eco-friendly and easy to install properties. Tarkett, Shaw Industries, Inc., Mohawk Industries, Inc., Mannington Mills, Inc., and Armstrong World Industries, Inc. are among the major suppliers of vinyl flooring. Some companies are opting for M&A as a strategic initiative for driving growth.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global vinyl flooring market by end use industry, product type, and region and has come up with a comprehensive research report, “Opportunities for Vinyl Flooring in the Global Building Construction Market 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategies, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes forecasts for the global vinyl flooring market through 2020, segmented by end use industry, product type, and region as follows:

By end use industry [$ million market size analysis from 2009 to 2020]:
• Residential
• Commercial

By product type [$ million market size analysis from 2009 to 2020]:
• Vinyl Sheet
• Luxury Vinyl Tile (LVT)
• Vinyl Composition Tile (VCT)

By region [value ($ million) and volume (million sq mt) market size analysis for 2009 to 2020]:
• North America
• Europe
• Asia Pacific
• Rest of the World

This 216-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Construction Market Report, Construction Reports, Industry / Market Analysis, Strategic Growth Consulting and Capital Investment Analysis.

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Lucintel LLC
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Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com

This release was published on openPR.