According to a new market report published by Lucintel, the future of the vinyl flooring market looks promising with opportunities in residential and non-residential applications. The global vinyl flooring market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $18.1 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025 . The major drivers for this market are growth in residential construction and renovation activities.
Browse 96 market data tables and 127 figures spread through 205 pages and in-depth TOC on “Vinyl Flooring Market”
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In this market, vinyl sheet, luxury vinyl tile, and vinyl composite tile are used in residential and non-residential floorings. On the basis of comprehensive research, Lucintel forecasts that the vinyl sheet will remain the largest segment over the forecast period due to their superior properties such as water-resistance, slip resistance, and ease of maintenance.
Within this market, vinyl flooring for non-residential will remain the largest segment during the forecast period due to the increase in demand for luxury vinyl tiles in non-residential buildings, such as offices, hotels, educational institutions, and hospitals.
APAC will remain the largest region due to the growth in the construction industry and changing lifestyle. North America is expected to witness the highest growth over the forecast period due to rising investments in single-family constructions in this region.
Emerging trends in the vinyl flooring market, which have a direct impact on the dynamics of the industry, include growing adoption of loose lay flooring – an innovative form of luxury vinyl tile and increasing demand for phthalate-free vinyl flooring. Shaw Industries, Tarkett, Mohawk Industries, Gerflor, and Mannington Mills are among the major suppliers of vinyl flooring.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the vinyl flooring market by product, end use, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Vinyl Flooring Market 2020-2025” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the vinyl flooring market by product, end use, and region, as follows:
By Product [Value ($M) and Volume (M Sqm) from 2014 to 2025]:
Luxury Vinyl Tile (LVT)
Vinyl Composite Tile (VCT)
By End Use [Value ($M) and Volume (M Sqm) from 2014 to 2025]:
By Region [Value ($M) and Volume (M Sqm) from 2014 to 2025]:
This 205-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/vinyl-flooring-in-the-global-construction-market.aspx or firstname.lastname@example.org.
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.