Vinyl Flooring Market Size, Share, Trends and Forecast (2019-2024)

Press Release:

Global Vinyl Flooring Market Strengthened by Thriving Construction Industry

*As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Vinyl Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global vinyl flooring market reached a volume of 1,060 Million Sq. Meters in 2018, registering a CAGR of 5.1% during 2011-2018. The market is further projected to reach a volume of 1,441 Million Sq. Meters by 2024. Vinyl flooring, also known as resilient flooring, is made by combining natural and synthetic polymer materials which are placed in repeating structural units. It is a versatile synthetic flooring material which is resistant against water and stains. Vinyl flooring is cost-effective in nature and exhibits numerous features such as durability, flexible handling, and design possibilities which make it suitable to be used in hospitals, schools, offices and houses. Additionally, vinyl flooring is comfortable to walk on and reduces impact noise owing to which it is being frequently used as an alternative to higher maintenance flooring like carpet. Currently, there is an availability of advanced print and textural techniques which makes it possible for vinyl flooring to imitate the look of a variety of flooring options such as hardwood, marble, stone, etc.

Global Vinyl Flooring Market Forecast

Global Vinyl Flooring Market Drivers/Constraints:

Over the past few years, a rise in the disposable incomes of consumers has enabled them to improve their lifestyles, and invest in luxurious housing projects and other infrastructural developments. Apart from this, consumers perceive that an appropriately decorated home is a symbol of status on account of which they have started enhancing flooring solutions such as vinyl flooring so as to uplift their social image.
With the recovery of the global economy, the construction industry in developing nations, like Asia, Africa, Eastern Europe and Latin America, is expected to witness a consistent growth over the period of next five years. The present levels of urban infrastructure in these regions does not cater to the requirements of the urban population. Thus, there is need for re-generation of urban areas in existing cities and the creation of new, inclusive smart cities which will contribute to the growth of the vinyl flooring market in the near future.
Nowadays, manufacturers have started using advanced production techniques to incorporate better design, performance and installation in the end-product. With the help of these advancements, they are able to make vinyl flooring with sharper textures and higher resolutions. In addition to this, manufacturers have simplified the installation process by introducing self-adhesive tiles, interlocking tiles and planks, loose lay planks, and glue down tiles and planks. Thus, technological advancements have been supporting the growth of the market.
The costs of various raw materials, including limestone, glass fibre and vinyl, account of nearly 50% of the total expenditure of the plant. Therefore, a fluctuation in the prices of these raw materials directly impacts the overall manufacturing cost of vinyl flooring, thereby hampering the growth of the global vinyl flooring market.

Breakup by Sector:

The vinyl flooring market has been segmented on the basis of sector which include residential and commercial. Currently, vinyl flooring is being majorly used in the residential sector owing to a rise in the demand for modified residential construction material.

Breakup by Product Type:

Based on product type, the market has been segregated into vinyl sheet, luxury vinyl tile (LVT) and vinyl composition tile (VCT). Amongst these, luxury vinyl tile represents the largest segment as it is a low-cost alternative for tile or planks.

Regional Insights:

On a regional basis, the global vinyl flooring market has been segmented into Asia-Pacific, North America, Western Europe, Eastern Europe, Latin America, and Middle East and Africa. North America exhibits a clear dominance, holding the majority of the market share. This can be highly attributed to increasing construction activities as well as rising awareness about benefits offered by vinyl flooring such as ease of installation, low maintenance cost, and availability of modern designs.

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. Some of the leading players operating in the market are:

Tarkett
Mohawk
Armstrong World Industries Inc.
Shaw Industries Inc.
Mannington Mills Inc.
Beaulieu International Group
Gerflor
Forbo

This report provides a deep insight into the global 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 vinyl flooring industry in any manner.

Key Questions Answered in This Report:

How has the global vinyl flooring market performed so far and how will it perform in the coming years?
What are the key regional markets in the global vinyl flooring industry?
What are the major sectors in the global vinyl flooring industry?
What are the popular product types in the global vinyl flooring industry?
What are the price trends of vinyl flooring?
What are the various stages in the value chain of the global vinyl flooring industry?
What are the major driving factors and challenges in the global vinyl flooring industry?
What is the structure of the global vinyl flooring industry and who are the key players?
What is the degree of competition in the global vinyl flooring industry?
What are the profit margins in the global vinyl flooring industry?
What are the key requirements for setting up a vinyl flooring manufacturing plant?
How is vinyl flooring manufactured?
What are the various unit operations involved in a vinyl flooring manufacturing plant?
What is the total size of land required for setting up a vinyl flooring manufacturing plant?
What are the machinery requirements for setting up a vinyl flooring manufacturing plant?
What are the raw material requirements for setting up a vinyl flooring manufacturing plant?
What are the packaging requirements for vinyl flooring?
What are the transportation requirements for vinyl flooring?
What are the utility requirements for setting up a vinyl flooring manufacturing plant?
What are the manpower requirements for setting up a vinyl flooring manufacturing plant?
What are the infrastructure costs for setting up a vinyl flooring manufacturing plant?
What are the capital costs for setting up a vinyl flooring manufacturing plant?
What are the operating costs for setting up a vinyl flooring manufacturing plant?
What will be the income and expenditures for a vinyl flooring manufacturing plant?
What is the time required to break-even?