North America Vinyl Flooring Market to Reach 389.7 Million Sq. Meters by 2032, Propelled by Increasing Need for Renovation and Remodeling Activities

July 24, 2023 | Retail

According to the latest report by IMARC Group, titled "North America Vinyl Flooring Market Report by Product Type (Vinyl Sheet, Luxury Vinyl Tile (LVT), Vinyl Composition Tile (VCT)), Sector (Residential, Commercial), and Country 2024-2032," the North America vinyl flooring market size reached 329.3 Million Sq. Meters in 2023. Vinyl flooring refers to a type of resilient flooring made primarily from polyvinyl chloride (PVC) and other additives. It is a synthetic flooring material designed to mimic the appearance of natural materials, such as tile, wood, or stone. It is constructed in layers that start with a backing layer for stability and support. It is highly resistant to stains, scratches, and dents, makes it an excellent alternative for high-traffic areas, including kitchens, bathrooms, and entryways. It does not require sealing, refinishing, or waxing as compared to other flooring materials, which saves time and effort in maintenance. It is available in various formats, including vinyl sheets, tiles, and luxury vinyl planks or tiles (LVP/LVT) across North America.

North America Vinyl Flooring Market Trends:

Increasing investments in upgrading existing infrastructure and consequent growth in the construction industry represent one of the major factors driving the demand for vinyl flooring in North America. Moreover, there is a rise in the need for renovation and remodeling activities of homes. This, coupled with the considerable number of commercial spaces, such as shopping malls, restaurants, cafes, offices, hotels, and institutions, is augmenting the market growth in the region. In addition, there is an increase in the availability of vinyl flooring in various textures, colors, sizes, and patterns. This, along with the growing utilization of vinyl flooring in industrial and large-scale commercial buildings on account of their numerous advantages, including easy installation, weather resistance, and low maintenance costs, is influencing the market positively in the region. Apart from this, the rising preferences among individuals for sustainable flooring solutions like vinyl flooring due to the growing environmental concerns are creating a positive outlook for the market. Looking forward, the market is projected to reach a volume of 389.7 Million Sq. Meters by 2032, expanding at a CAGR of 1.8% during 2024-2032.

Market Summary:

On the basis of the product type, the market has been categorized into vinyl sheets, luxury vinyl tiles (LVT) and vinyl composition tiles (VCT). Luxury vinyl tiles (LVT) currently account for the biggest market share.
Based on the sector, residential holds the largest market share, followed by commercial.
Country-wise, the market has been divided into the United States, Canada, and Mexico.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	Million Sq. Meters
Segment Coverage	Product Type, Sector, Country
Countries Covered	United States, Canada, Mexico
Customization Scope	10% Free Customization
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North America Vinyl Flooring Market to Reach 389.7 Million Sq. Meters by 2032, Propelled by Increasing Need for Renovation and Remodeling Activities

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