Vinyl Flooring Market Market Expanding At A Healthy 6.8% CAGR And Is Projected To Total US$ 41,578.70 Mn By 2028

Future Market Insights’ newly published market report, “Vinyl Flooring Market: Global Industry Analysis and Forecast, 2022-2028,” examines the vinyl flooring market and offers crucial market insights for the next ten years. Valuable insights encapsulated in the report highlights that the plank segment is expected to remain a leading segment in the market in terms of format, recording a CAGR of 7.1% during the forecast period (2022 – 2028).

In addition, the segment is expected to account for around 40.0% share of the overall market value throughout forecast period. Globally, the vinyl flooring market is projected to reach US$ 41,578.7 Mn by the end of 2028.

Increasing number of infrastructural activities in both developing and developed countries have continued to contribute towards growth of the global vinyl flooring market. To offer versatile, water-proof and stain-resistant floorings, prominent manufacturers are focusing on utilizing digital printing and 3D printing techniques for developing vinyl planks and products.

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These technological advancements enable the end users to duplicate any original material, such as gravel, wood, metal and others. For instance, Tarkett in collaboration with Philip lighting has launched LED embedded tiles that can guide people to any location (store/building)

With the increasing number of small and medium business, demand for infrastructure continues to persist. In addition, constructors are focusing on building healthcare infrastructures near the residential areas.

In pace with the increasing number of construction projects, growth of the vinyl flooring market is likely to gain a speedy momentum during the assessment period.

To offer convenience to the end users in the residential industry, leading manufacturers are focusing on developing a wide array of vinyl flooring that are waterproof and easy to clean.

Also, vinyl flooring is considered as decorative flooring due to the recent upgrades, such as resemblance to ceramic or other contemporary looks (petrified wood or stained concrete). Also, vinyl flooring is preferred for high-traffic areas as it is durable, trendy and available with built-in adhesive

Key Companies Profiled

• Tarkett
• AFI LicensingLLC
• Mohawk Industries Inc.
• ForboGroup
• I.TAKIRONCorporation
• Responsive Industries Ltd.
• TOLI Corporation
• Shaw Industries Group Inc.
• JAMESHALSTEADPLC
• Interface Inc.
• Mannington Mills Inc.
• Gerflor

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Global Vinyl Flooring Market: Forecast

On the basis of vinyl flooring application, the commercial segment is expected to witness significant growth in terms of volume during the forecast period.

As per the forecast, the commercial segment is estimated to account for more than 56.5% share in the overall market value by the end of the forecast period. This is largely due to the massive applications of vinyl flooring in various innovative constructions.

On the basis of region, Western Europe is anticipated to dominate the global vinyl flooring market throughout the forecast period. Western Europe market is expected to expand at around 7.3% CAGR. SEA & Pacific region is anticipated to record robust CAGR in the global vinyl flooring market throughout 2028.

These two regions coupled with North America and China are expected to register impressive growth rates in the global vinyl flooring market over the assessment period.

Vinyl Flooring Market by Category

Format:

• Sheet
• Plank
• Tile

Product Type:

• Inlaid
• Printed

Application:

• Residential
• Commercial
• Industrial

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South East Asia and Pacific
• China
• India
• Japan
• Middle East and Africa

Competition Landscape

Key players operating in the vinyl tiles market are engaging in the designing and development of new products with unique features to enhance their portfolios and expand their consumer base worldwide. Besides, some of the other companies are focusing on strengthening their retailing network and creating a well-structured supply chain to reach out to their customers.

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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