October 29, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Vinyl Flooring Market (Volume, Value): World Market Review By Product Type (Luxury Vinyl Tile, Vinyl Sheet, Vinyl Composition Tile), End User Sector, Sales Channel, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)-- By Region (Americas, Europe and CIS, APAC, LAMEA), By Country (US, Canada, Mexico, Germany, France, UK, Russia, China, Japan, Australia, India)’, the worldwide vinyl flooring market is anticipated to expand significantly by the year 2024.
Vinyl flooring is a finished flooring material mainly made from a mixture of limestone-base material mixed with compounds of synthetic and natural polymer materials like plasticizers and chloride. It is a type of resilient and robust flooring, which is particularly used in construction application related to residential and commercial projects.
Vinyl flooring market is majorly driven by factors such as water resistance, product performance, durability and rising adoption in developing and developed countries. In addition, development in remodeling activities, growth in per capita income, and construction of residential building trigger the market demand. Factors influencing these markets include customer confidence, interest rates, availability of credit, inflation, customer preferences, and spending for durable goods.
As per the report, vinyl flooring market was worth US $20.5 billion in 2018 and is anticipated to surge at a significant growth rate over the forecast timeframe. The report also provides a comprehensive insight about segmental growth, trends, drivers, challenges, and opportunities impacting the market growth.
The worldwide vinyl flooring market is analyzed on the basis of product type, end-user spectrum, sales channel and regional outlook. Based on the product type, the market is segmented as luxury vinyl tile (LVT), vinyl composition tile, and vinyl sheet. Wherein, LVT is in increased demand and registered a growth of 20% as it is an extremely preferred choice for the manufacturers globally.
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Speaking of the end-user spectrum, the market is fragmented as offices, hospitality, healthcare, residential, retail and others. While considering the sales channel, the market is segmented as home centers, distributors, direct sale/contractors. Based on the regional outlook, the market is divided into four major regions which are Asia Pacific, Europe, LAMEA, and North America.
The prominent companies operating in vinyl flooring market include Beaulieu International Group, Interface, Milliken & Company, Mohawk Industries, Mannington, Mohawk Industries, Shaw Industries, Tarkett, Armstrong Flooring, Balta Group, and Forbo.
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