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India Vinyl Flooring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The India vinyl flooring market size reached US$ 1,065.9 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,693.6 Million by 2027, exhibiting a growth rate (CAGR) of 7.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Vinyl flooring or resilient flooring is manufactured using a combination of synthetic and natural polymer materials, which are placed in repeating structural units. This versatile synthetic flooring material is water and stain resistant, and has numerous features including flexible handling, durability, design variations, etc. Owing to such favorable properties, it is widely used in schools, hospitals, offices and residential complexes. Additionally, vinyl flooring is cost-effective, comfortable to walk on and reduces the impact noise, owing to which it is frequently used as an alternative to carpet flooring that requires a higher-maintenance cost. Currently, advanced print and textural techniques are available in the market, which make it possible for vinyl flooring to duplicate the look of different flooring options such as hardwood, marble and stone.

Market Drivers:

  • In recent years, rising disposable income of consumers has enabled them to improve their lifestyle and invest in high-quality luxurious housing projects and infrastructural developments. Additionally, it is believed by the consumers that an appropriately decorated home is a symbol of social status, on account of which, they are experimenting with various flooring solutions such as vinyl flooring to enhance and maintain their social image.
  • With improvements in the national economic scenario, the construction industry is expected to witness healthy growth in the coming years. The renovation of urban areas in existing cities and the establishment of smart cities is further expected to catalyze the growth of the market. Furthermore, owing to India’s rapidly increasing population, there is expected to be an extensive demand for residential complexes, which will further drive the demand of this industry.
  • Nowadays, manufacturers are using advanced production methods and techniques to generate better designs and enhance the performance of the product. Due to these advancements, vinyl floorings with higher resolutions and sharper textures are now being manufactured. In addition to this, manufacturers have also simplified the installation process by incorporating self-adhesive, glue down and interlocking tiles along with loose lay planks.
     

Key Market Segmentation: 

IMARC Group provides an analysis of the key trends in each sub-segment of the India vinyl flooring market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on sector, segment, imports and domestic manufacturing, product type, LVT market breakup by type, LVT market breakup by application sector, Vinyl Sheet market breakup by contract type and Vinyl Sheet market breakup by application.

Breakup by Sector:

  • Residential
  • Commercial
     

Breakup by Segment:

  • Organized
  • Unorganized
     

Currently, unorganized segment dominates the vinyl flooring market in the country.

Breakup by Imports and Domestic Manufacturing:

  • Imports
  • Domestic Manufacturing
     

Currently, imported products dominate the Indian vinyl flooring market.

Breakup by Product Type:

  • Vinyl Sheet
  • Luxury Vinyl Tile (LVT)
  • Vinyl Composition Tile (VCT)
     

Based on product type, the market has been segregated into vinyl sheet, luxury vinyl tile (LVT) and vinyl composition tile (VCT). Amongst these, vinyl sheet represents the largest segment.

LVT Market Breakup by Type:

  • Traditional LVT
  • WPC
  • SPC
     

LVT Market Breakup by Application Sector:

  • Commercial
    • Healthcare
    • Education
    • Hospitality
    • Retail
    • Corporate
    • Sports
    • Others
  • Residential
     

Vinyl Sheet Market Breakup by Contract Type:

  • Semi-Contract Sheet Vinyl
  • Contract Sheet Vinyl
  • Others
     

Vinyl Sheet Market Breakup by Application:

  • Commercial
    • Healthcare
    • Hospitality
    • Transport
    • Education
    • Sports
    • Retail
    • Others
  • Residential
     

Competitive Landscape:

The market is fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices and quality. The report provides the competitive structure of the industry and market shares of the leading manufacturers in the domestic as well as imports market.

IMARC Group’s latest report provides a deep insight into the Indian vinyl flooring market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a vinyl flooring manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian vinyl flooring industry in any manner.

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   India Flooring Market
    5.1    Market Overview
    5.2    Market Performance
        5.2.1    Volume Trends
        5.2.2    Value Trends   
    5.3    Market Breakup by Product Type
    5.4    Performance in Asia-Pacific Region
    5.5    Market Forecast
    5.6    Market Breakup by Key Players
6   India Vinyl Flooring Market
    6.1    Market Overview
    6.2    Market Performance
        6.2.1    Volume Trends
        6.2.2    Value Trends
    6.3    Impact of COVID-19
    6.4    Market Breakup by Organized and Unorganized Sector
    6.5    Market Breakup by Residential and Commercial Sector
    6.6    Market Breakup by Product Type
        6.6.1      Vinyl Sheet
               6.6.1.1 Market Trends
               6.6.1.2 Market Forecast
        6.6.2      Luxury Vinyl Tile (LVT)
               6.6.2.1 Market Trends
               6.6.2.2 Market Breakup by Type
               6.6.2.3 Percentage Replacement by LVT & SPC Tiles in the Flooring Market
               6.6.2.4 Market Breakup by Application Sector 
               6.6.2.5 SPC Tiles Importers
               6.6.2.6 Market Forecast
        6.6.3      Vinyl Composition Tile (VCT)
               6.6.3.1 Market Trends
               6.6.3.2 Market Forecast
    6.7   Market Breakup by Imports and Domestic Manufacturing
        6.7.1    Imports
        6.7.2    Domestic Manufacturing
    6.8   Market Forecast
    6.9   Distribution Channel Analysis
    6.10      SWOT Analysis
        6.10.1      Overview
        6.10.2      Strengths
        6.10.3      Weaknesses
        6.10.4      Opportunities
        6.10.5      Threats
   6.11    Value Chain Analysis
        6.11.1      Overview
        6.11.2      Sourcing of Raw Material
        6.11.3      Manufacture of Packaging Material
        6.11.4      Manufacturing of Packaged Goods
        6.11.5      Logistics
        6.11.6      Distribution Channel
   6.12    Porters Five Forces Analysis
        6.12.1      Overview
        6.12.2      Bargaining Power of Buyers
        6.12.3      Bargaining Power of Suppliers
        6.12.4      Degree of Competition
        6.12.5      Threat of New Entrants
        6.12.6      Threat of Substitutes
7   India Vinyl Sheet Flooring Market
    7.1    Market Overview
    7.2    Market Performance
    7.3    Market Breakup by Contract Type
        7.3.1      Semi-Contract Sheet Vinyl
               7.3.1.1 Market Trends
               7.3.1.2 Market Forecast
        7.3.2      Contract Sheet Vinyl
               7.3.2.1 Market Trends
               7.3.2.2 Market Forecast
        7.3.3      Others
               7.3.3.1 Market Trends
               7.3.3.2 Market Forecast
    7.4    Market Breakup by Application
        7.4.1      Commercial
               7.4.1.1 Market Trends
               7.4.1.2 Market Breakup by Application
                             7.4.1.2.1      Healthcare
                             7.4.1.2.2      Transport
                             7.4.1.2.3      Hospitality
                             7.4.1.2.4      Retail
                             7.4.1.2.5      Education
                             7.4.1.2.6      Sports
                             7.4.1.2.7      Others
               7.4.1.3 Market Forecast
        7.4.2      Residential
               7.4.2.1 Market Trends
               7.4.2.2 Market Forecast
    7.5    Market Forecast
8   Competitive Landscape
    8.1   Market Structure
    8.2   Market Breakup by Key Players
        8.2.1    India Vinyl Flooring (Overall) Market
        8.2.2    India Vinyl Flooring (Domestic Manufacturing) Market
        8.2.3    India Vinyl Flooring Market: Imports by Key Players
9   Vinyl Flooring Manufacturing Process
    9.1    Product Overview
    9.2    Detailed Process Flow
    9.3    Various Types of Units Operations Involved
    9.4    Mass Balance and Raw Material Requirements
10  Project Details, Requirements and Costs Involved
    10.1    Land Requirements and Expenditures
    10.2    Construction Requirements and Expenditures
    10.3    Plant Machinery
    10.4    Machinery Pictures
    10.5    Raw Materials Requirements and Expenditures
    10.6    Raw Material and Final Product Pictures
    10.7    Packaging Requirements and Expenditures
    10.8    Transportation Requirements and Expenditures
    10.9    Utilities Requirements and Expenditures
    10.10    Manpower Requirements and Expenditures
    10.11    Other Capital Investments
11  Vinyl Flooring Manufacturing Plant: Loans and Financial Assistance
12  Vinyl Flooring Manufacturing Plant: Project Economics

    12.1    Capital Cost of the Project
    12.2    Techno-Economic Parameters
    12.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    12.4    Taxation and Depreciation
    12.5    Income Projections
    12.6    Expenditure Projections
    12.7    Financial Analysis
    12.8    Profit Analysis
13  Key Players Profiles

List of Figures

Figure 1: India: Vinyl Flooring Market: Major Drivers and Challenges
Figure 2: India: Flooring Market: Sales Volume (in Million Sq. Metres), 2016-2021
Figure 3: India: Flooring Market Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 4: India: Flooring Market: Sales Value (in Billion US$), 2016-2021
Figure 5: India: Flooring Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 6: India: Flooring Market: Breakup by Product Type (in term of Volume Shares- %), 2016 & 2021
Figure 7: India: Flooring Market: Breakup by Product Type (in terms of Value Shares- %), 2016 & 2021
Figure 8: India: Flooring Market: Performance in Asia-Pacific Region (in %), 2021 & 2027
Figure 9: India: Flooring Market: Breakup by Key Players (%), 2021
Figure 10: India: Vinyl Flooring Market: Sales Volume (in Million Sq. Metres), 2016-2021
Figure 11: India: Vinyl Flooring Market: Sales Value (in Million US$), 2016-2021
Figure 12: India: Vinyl Flooring Market: Breakup by Organized and Unorganized Sector (in %), 2021
Figure 13: India: Vinyl Flooring Market: Breakup by Product Type (in %), 2021
Figure 14: India: Vinyl Flooring Market (Vinyl Sheet): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 15: India: Vinyl Flooring Market (Vinyl Sheet) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 16: India: Vinyl Flooring Market (Luxury Vinyl Tile): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 17: India: Luxury Vinyl Tile (LVT) Flooring Market: Breakup by Application Sector (in %), 2016, 2021 & 2027
Figure 18: India: Luxury Vinyl Tile (LVT) Flooring Market: Breakup by Type (include LVT & SPC) (in %), 2021
Figure 19: India: Luxury Vinyl Tile (LVT) Flooring Market: Breakup by Commercial Application (in %), 2021
Figure 20: India: Vinyl Flooring Market (Luxury Vinyl Tile) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 21: India: Vinyl Flooring Market (Vinyl Composition Tile): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 22: India: Vinyl Flooring Market (Vinyl Composition Tile) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 23: India: Vinyl Flooring Market: Consumption Breakup by Imports and Domestic Manufacturing (in %), 2021
Figure 24: India: Vinyl Flooring Market (Imports): Consumption Value Trends (in Million US$), 2016 & 2021
Figure 25: India: Vinyl Flooring Market (Imports) Forecast: Consumption Value Trends (in Million US$), 2022-2027
Figure 26: India: Vinyl Flooring Market (Domestic Manufacturing): Consumption Value Trends (in Million US$), 2016 & 2021
Figure 27: India: Vinyl Flooring Market (Domestic Manufacturing) Forecast: Consumption Value Trends (in Million US$), 2022-2027
Figure 28: India: Vinyl Flooring Market Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 29: India: Vinyl Flooring Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: India: Vinyl Flooring Industry: SWOT Analysis
Figure 31: India: Vinyl Flooring Industry: Value Chain Analysis
Figure 32: India: Vinyl Flooring Industry: Porter’s Five Forces Analysis
Figure 33: India: Vinyl Sheet Flooring Market: Sales Volume (in Million Sq. Metres), 2016-2021
Figure 34: India: Vinyl Sheet Flooring Market: Breakup by Contract Type (in %), 2021
Figure 35: India: Vinyl Sheet Flooring Market (Semi-Contract Sheet Vinyl): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 36: India: Vinyl Sheet Flooring Market (Semi-Contract Sheet Vinyl) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 37: India: Vinyl Sheet Flooring Market (Contract Sheet Vinyl): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 38: India: Vinyl Sheet Flooring Market (Contract Sheet Vinyl) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 39: India: Vinyl Sheet Flooring Market (Other Contract Types): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 40: India: Vinyl Sheet Flooring Market (Other Contract Types) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 41: India: Vinyl Sheet Flooring Market: Breakup by Application (in %), 2021
Figure 42: India: Vinyl Sheet Flooring Market (Commercial): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 43: India: Vinyl Sheet Flooring Market: Breakup by Commercial Applications (in %), 2021
Figure 44: India: Vinyl Sheet Flooring Market (Healthcare): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 45: India: Vinyl Sheet Flooring Market (Healthcare) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 46: India: Vinyl Sheet Flooring Market (Transport): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 47: India: Vinyl Sheet Flooring Market (Transport) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 48: India: Vinyl Sheet Flooring Market (Hospitality): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 49: India: Vinyl Sheet Flooring Market (Hospitality) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 50: India: Vinyl Sheet Flooring Market (Retail): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 51: India: Vinyl Sheet Flooring Market (Retail) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 52: India: Vinyl Sheet Flooring Market (Education): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 53: India: Vinyl Sheet Flooring Market (Education) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 54: India: Vinyl Sheet Flooring Market (Sports): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 55: India: Vinyl Sheet Flooring Market (Sports) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 56: India: Vinyl Sheet Flooring Market (Other Applications): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 57: India: Vinyl Sheet Flooring Market (Other Applications) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 58: India: Vinyl Sheet Flooring Market (Commercial) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 59: India: Vinyl Sheet Flooring Market (Residential): Sales Volume (in Million Sq. Metres), 2016 & 2021
Figure 60: India: Vinyl Sheet Flooring Market (Residential) Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 61: India: Vinyl Sheet Flooring Market Forecast: Sales Volume (in Million Sq. Metres), 2022-2027
Figure 62: India: Vinyl Flooring (Overall) Market: Breakup by Key Players (in %), 2021
Figure 63: India: Vinyl Flooring (Domestic Manufacturing) Market: Breakup by Key Players (in %), 2021
Figure 64: Luxury Vinyl Tile (LVT) Flooring Manufacturing: Detailed Process Flow
Figure 65: Luxury Vinyl Tile (LVT) Flooring Manufacturing: Conversion Rate of Feedstocks
Figure 66: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 67: Luxury Vinyl Tile (LVT) Flooring Industry: Profit Margins at Various Levels of Supply Chain
Figure 68: Luxury Vinyl Tile (LVT) Flooring Production: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: India: Flooring Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Vinyl Flooring Market: Key Industry Highlights, 2021 and 2027
Table 3: India: SPC Market: Major Importers and their shares 
Table 4: India: Vinyl Sheet Flooring Market: Key Industry Highlights, 2021 and 2027
Table 5: India: Vinyl Flooring Market: Competitive Structure
Table 6: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Raw Material Requirements
Table 7: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 8: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 9: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Costs Related to Machinery Unit (in US$)
Table 10: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Raw Material Requirements (in Ton/Day) and Expenditure (US$/Ton)
Table 11: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Utilities Requirements and Expenditures (in US$)
Table 12: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 13: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 14: Details of Financial Assistance Offered by Financial Institutions
Table 15: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Capital Costs (in US$)
Table 16: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Techno-Economic Parameters
Table 17: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Taxation (in US$)
Table 18: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Depreciation (in US$)
Table 19: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Income Projections (in US$)
Table 20: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Expenditure Projections (in US$)
Table 21: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 22: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 23: Luxury Vinyl Tile (LVT) Flooring Manufacturing Plant: Profit and Loss Account (in US$)
Table 24: Responsive Industries Limited: Financials (in Million US$)
Table 25: Responsive Industries Limited: Product Portfolio
Table 26: Wonder floor (RMG Polyvinyl India Ltd.): Financials (in Million US$) 
Table 27: WONDERFLOOR: Product Portfolio
Table 28: Wonderfloor: List of Distributors
Table 29: Natroyal Group: Financials (in Million US$)
Table 30: Natroyal Group: Product Portfolio
Table 31: Natroyal Group: List of Distributors
Table 32: Vinyl Flooring Importers


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Key Questions Answered in This Report

The India vinyl flooring market was valued at US$ 1,065.9 Million in 2021.

We expect the India vinyl flooring market to exhibit a CAGR of 7.8% during 2022-2027.

The rising development of modern housing facilities, along with the introduction of vinyl flooring with
high aesthetic value and sharper textures, is currently driving the India vinyl flooring market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across the nation resulting in the temporary halt in numerous construction activities,
thereby negatively impacting the demand for vinyl flooring.

Based on the sector, the India vinyl flooring market has been segmented into residential and
commercial.

Based on the segment, the India vinyl flooring market can be divided into organized and unorganized,
where unorganized segment currently exhibits a clear dominance in the market.

Based on the imports and domestic manufacturing, the India vinyl flooring market has been categorized into imports and domestic manufacturing. Currently, imports account for the majority of the total market share.

Based on the product type, the India vinyl flooring market can be segregated into vinyl sheet, Luxury
Vinyl Tile (LVT), and Vinyl Composition Tile (VCT). Among these, vinyl sheet currently holds the largest
market share.

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