According to the latest report by IMARC Group, titled “India Vinyl Flooring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the India vinyl flooring market size reached US$ 1,151.2 Million in 2022. Vinyl flooring is a synthetic material made primarily using a combination of synthetic and natural polymer materials arranged in repeating structural units. It has exceptional durability, water, stain resistance, and flexibility, making it a popular choice in various settings, such as schools, hospitals, offices, and residential complexes. It can withstand heavy foot traffic, which makes it an ideal flooring solution for businesses and public areas. It comes in various forms, including sheets, tiles, and planks, offering a wide range of design options to suit different interior styles and preferences. Vinyl flooring can replicate the appearance of varying options like hardwood, marble, and stone, allowing homeowners and businesses to achieve the desired aesthetic without the associated costs and maintenance requirements of natural materials.
India Vinyl Flooring Market Trends:
The increasing demand for vinyl flooring in the construction and real estate sectors owing to the rising need for modern and cost-effective flooring solutions, is one of the key factors driving the market growth. Moreover, the widespread product popularity among architects, interior designers, and property developers to create visually appealing spaces that align with contemporary trends and customer preferences is creating a positive outlook for the market. Additionally, the increasing application of vinyl flooring in construction projects due to the ease of installation and maintenance that allows for faster project completion, reducing downtime and labor costs, is strengthening the market growth. Furthermore, the growing focus of the Indian government on infrastructure development, including transportation systems, airports, and commercial buildings, leading to a surge in construction projects, is providing a considerable boost to the market growth. In addition to this, the growing demand for modern and aesthetically pleasing interiors owing to the rising middle-class population in India and increasing disposable income is favoring the market growth. Besides this, the rising preference for sustainable and environmentally friendly products is encouraging manufacturers to introduce eco-friendly vinyl flooring options that incorporate recycled materials and low volatile organic compounds (VOC) content, is positively impacting the market growth. Apart from this, rapid advancements in manufacturing technologies, such as the application of three-dimensional (3D) printing to replicate the appearance of other flooring materials, such as wood, stone, and marble, at a more affordable price is providing a thrust to the market growth. Looking forward, the market value is projected to reach US$ 1,756.9 Million by 2028, expanding at a CAGR of 6.7% during 2023-2028.
- Based on the sector, the market has been segmented as residential and commercial.
- On the basis of segment, the market has been bifurcated into organized and unorganized. Among these, unorganized segments represent the largest market share.
- Based on imports and domestic manufacturing. According to the report, imports accounted for the largest market share.
- On the basis of product type, the market has been segregated into vinyl sheet, luxury vinyl tile (LVT) and vinyl composition tile (VCT). Amongst these, vinyl sheets represent the largest segment.
- Based on the LVT market breakup by type, the market has been divided into traditional LVT, WPC and SPC.
- Based on the LVT market breakup by application sector, the market has been categorized into commercial (healthcare, education, hospitality, retail, corporate, sports and others) and residential.
- On the basis of vinyl sheet market breakup by contract type, the market has been segmented into semi-contract sheet vinyl, contract sheet vinyl and others.
- On the basis of vinyl sheet breakup by application, the market has been categorized into commercial (healthcare, hospitality, transport, education, sports, retail, and others) and residential.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
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