What is Global Vinyl Flooring Market?
The Global Vinyl Flooring Market is a vast and dynamic sector that encompasses a wide range of products and applications. Vinyl flooring, a synthetic cousin of linoleum, is water-and stain-resistant, versatile, and provides good durability for the cost. It is a popular choice for both residential and commercial spaces due to its resilience and low maintenance requirements. The market is driven by various factors such as the growing demand for cost-effective, efficient, and aesthetically appealing flooring solutions. The global market is further segmented based on product type, application, and region. Each segment offers a comprehensive analysis of the market trends, market size, and forecasted growth. The global vinyl flooring market is a complex interplay of supply and demand forces, shaped by a variety of factors including technological advancements, consumer preferences, and economic conditions.
Luxury Vinyl Tile (LVT), Vinyl Composite Tile (VCT), Others in the Global Vinyl Flooring Market:
The Global Vinyl Flooring Market is segmented into Luxury Vinyl Tile (LVT), Vinyl Composite Tile (VCT), and others. LVT is a finished flooring material used primarily in commercial or institutional applications. It is known for its durability and is available in a wide range of colors, patterns, and sizes. VCT, on the other hand, is a resilient flooring option that is resistant to impact, staining, and water. It is commonly used in high-traffic areas due to its low cost and ease of maintenance. The 'others' category includes various other types of vinyl flooring products such as sheet vinyl, vinyl plank, and vinyl tile. Each of these products has its own unique set of characteristics and advantages, making them suitable for different applications and environments. The choice between these products depends on various factors such as the intended use, budget, and aesthetic preferences.
Commercial Use, Residential Use in the Global Vinyl Flooring Market:
The Global Vinyl Flooring Market finds its application in both commercial and residential sectors. In the commercial sector, vinyl flooring is widely used in offices, retail spaces, hospitality industry, healthcare facilities, and educational institutions. This is due to its durability, ease of maintenance, and availability in a wide range of designs. In the residential sector, vinyl flooring is popular in kitchens, bathrooms, and laundry rooms due to its water-resistant nature. It is also used in living rooms and bedrooms for its comfort underfoot and sound-absorbing qualities. The versatility of vinyl flooring allows it to cater to a wide range of needs and preferences, making it a popular choice in both sectors.
Global Vinyl Flooring Market Outlook:
Looking at the market outlook, the Global Vinyl Flooring Market was valued at a significant US$ 9873 million in 2023. The market is expected to witness a steady growth, reaching an estimated value of US$ 14480 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period from 2024 to 2030. This growth can be attributed to the increasing demand for vinyl flooring in both residential and commercial sectors, driven by its numerous advantages such as durability, low maintenance, and aesthetic appeal. The market is expected to continue its upward trajectory, fueled by technological advancements and evolving consumer preferences.
| Report Metric | Details |
| Report Name | Vinyl Flooring Market |
| Accounted market size in 2023 | US$ 9873 million |
| Forecasted market size in 2030 | US$ 14480 million |
| CAGR | 5.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Tarkett, Gerflor, Armstrong, Mannington Mills, NOX, Shaw, Hanwha, LG Hausys, Mohawk, Polyflor, Congoleum, Forbo, TOLI, Beaulieu, Tajima, Metroflor, Interface, RiL, Karndean, Roppe, Milliken, Kraus, Parterre, Kingdomfloor, Snmo LVT, Hailide New Material, Taide Plastic Flooring |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
