Pune, India, Nov. 16, 2021 (GLOBE NEWSWIRE) -- The global vinyl flooring market size is expected to showcase exponential growth by reaching USD 51.45 billion by 2028 while exhibiting a CAGR of 6.8% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Vinyl Flooring Market, 2021-2028.” The report further mentions that the market stood at USD 30.61 billion in 2020. The increasing focus on the development of residential buildings and the growing demand for advanced healthcare facilities worldwide is anticipated to boost the product’s demand during the forecast period.
The drastic effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. The lockdown imposed by the government agencies has led to several industries facing halted industrial operations. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
List of the Companies Profiled in the Global Vinyl Flooring Market:
- Armstrong Flooring, Inc. (U.S.)
- Forbo Flooring Systems (The Netherlands)
- Mohawk Industries, Inc. (U.S.)
- Tarkett S.A. (France)
- Mannington Mills, Inc. (U.S.)
- Shaw Industries Group, Inc. (U.S.)
- LG Hausys (South Korea)
- Gerflor (France)
- Interface, Inc. (U.S.)
- Polyflor Ltd (U.K.)
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Market Segmentation:
Based on type, the market is trifurcated into vinyl sheets, vinyl tiles, and luxury vinyl tiles. On the basis of end-use the market is bifurcated into residential and non-residential.
Based on end-use, the non-residential segment is expected to hold a significant global vinyl flooring market share during the forecast period. This is owing to the increasing demand for advanced offices and healthcare centers globally that will bode well for the segmental growth.
Finally, based on region, the market is divided into Europe, North America, South America, Asia-Pacific, and the Middle East and Africa.
What does the Report Include?
The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Increasing Focus on Development of Healthcare Infrastructure to Promote Growth
In May 2021, Interface announced the launch of its first-ever vinyl sheet products, which is an addition to its current portfolio of LVT, carpet tile, and Nora rubber flooring. With the launch, the company is expected to provide complete flooring solutions that cater to the requirement of the healthcare facilities. The increasing demand for such flooring across several healthcare facilities is witnessed as a positive sign for the growth of the market. In addition to this, the increasing focus on the development of residential buildings that have gained momentum owing to the proactive government initiatives of smart cities will contribute to the global vinyl flooring market growth during the forecast period.
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https://www.fortunebusinessinsights.com/vinyl-flooring-market-103059
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Rapid-Paced Urbanization to Aid Growth
Among all the regions, Asia-Pacific is expected to dominate and hold the highest position in the market during the forecast period. This is due to the rapid-paced urbanization in countries such as India and China that has led to the surge in renovation activities of residential and commercial buildings propelling the demand for innovative vinyl floorings.
The market in North America is expected to experience considerable growth backed by the increasing focus on the enhancement of commercial buildings such as offices, schools, and healthcare institutions in countries such as the U.S.
COMPETITIVE LANDSCAPE
Key Players Focus on Merger Strategies to Expand Their Product Portfolio & Boost Sales Revenue
The market is consolidated by the presence of major companies spread across the globe. These companies are focusing on developing and introducing innovative vinyl flooring products to gain a competitive edge over their rivals. Moreover, other key players are adopting strategies such as the introduction of new products, partnerships, and collaboration to maintain their strongholds that will favor market growth.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Vinyl Flooring Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Vinyl Flooring Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- by Type (Volume/Value)
- Vinyl Sheets
- Vinyl Tiles
- Luxury Vinyl Tiles
- by End-Use (Volume/Value)
- Residential
- Non-Residential
- by Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
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Key Industry Development:
- May 2021 – Armstrong Flooring announced the launch of its 3 new LVT collections such as Coalesce, Terra, and Biome. These collections are patented with diamond ten technology and are available for commercial purposes. Moreover, these products consist of 29% of recycled content.
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Resilient Flooring Market Size, Share & COVID-19 Impact Analysis, By Product Type (Luxury Vinyl Tile, Vinyl Sheet & Floor Tile, Rubber, Linoleum, and Others), By Application (Residential, Commercial and Others), and Regional Forecast, 2020-2027
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