Global Vinyl Flooring Market to Reach US$ 112.0 Billion by 2032, Propelled by Increasing Construction Activities

July 12, 2022 | Retail

According to the latest report by IMARC Group, titled "Vinyl Flooring Market Report by Product Type (Vinyl Sheet, Luxury Vinyl Tile (LVT), Vinyl Composition Tile (VCT)), Sector (Residential, Commercial), and Region 2024-2032," the global vinyl flooring market reached a value of US$ 50.9 Billion in 2023. Vinyl flooring is an indispensable flooring material formulated by blending natural and synthetic polymer ingredients. It is manufactured by rolling, layering, and extruding the product with several compositions, including pigments, plasticizers, and polyvinyl chloride resin, to offer a long-lasting covering. As compared to conventional higher-maintenance floorings, such as carpets, vinyl flooring is more cost-effective, durable, easy to install, versatile, and moisture-resistant, and requires lower maintenance. Apart from this, the protective coating safeguards the product from dirt and scratches and enhances the overall appearance of the space. At present, it is mainly available in several looks, patterns, and color combinations.

Global Vinyl Flooring Market Trends:

One of the major factors driving the global vinyl flooring market growth is the ongoing construction activities across the globe. Such activities have facilitated the demand for lightweight, slip and stain-resistant, and aesthetically appealing floor covering for interiors. This is further supported by rapid urbanization, changing consumer preferences, a rising number of luxurious housing projects, and significant investments in infrastructure development, renovation, and remodeling of existing spaces. In line with this, rising environmental concerns have prompted governments to promote the uptake of sustainable construction resources, such as bio-based vinyl flooring, to mitigate volatile organic compounds (VOCs), which is acting as another growth-inducing factor. Additionally, the widespread adoption of upgraded solutions by manufacturers to optimize vinyl flooring production procedures and introduce self-adhesive flooring solutions in different designs, textures, and dimensions, are contributing to the market growth. The market growth is also influenced by the extensive uptake of diverse printing solutions, which further enables easy texture printing on tiles. Other factors, including the growing need for multifamily houses and strategic collaborations amongst key players to enhance vinyl flooring comfort and noise-controlling efficacy, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 112.0 Billion by 2032, growing at a CAGR of 9.01% during 2024-2032.

Market summary

  • Based on the product type, the market has been segregated into vinyl sheet, luxury vinyl tile (LVT), and vinyl composition tile (VCT). Luxury vinyl tile (LVT) is currently the most commonly used product.
  • Based on the sector, the market has been bifurcated into residential and commercial. Presently, residential dominates the market.
  • On key regions performance basis, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Amongst these Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Mohawk Industries Inc., Tarkett Group, Armstrong World Industries, Inc., Shaw Industries, Inc., Mannington Mills, Inc., Beaulieu International Group, Gerflor Group, and Forbo Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion, Million Sq. Meters
Segment Coverage Product Type, Sector, Region
Region Covered  Asia Pacific, North America, Western Europe, Eastern Europe, Latin America, Middle East and Africa
Companies Covered Tarkett, Mohawk, Armstrong World Industries Inc., Shaw Industries Inc., Mannington Mills Inc., Beaulieu International Group, Gerflor and Forbo
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Vinyl Flooring Market to Reach US$ 112.0 Billion by 2032, Propelled by Increasing Construction Activities
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