Vinyl Flooring Market Statistics, Overview, Market Share Analysis, and Forecast to 2027

 Market Size – USD 29.66 Billion in 2019, Market Growth – CAGR of 6.6%, Market Trends – The rise in the trend of customer’s high standard lifestyle.

The Vinyl Flooring Market is projected to reach USD 49.79 Billion by 2027. Rising demand is anticipated by factors such as High strength, excellent water resistance, and the lightweight properties offered by the product are expected to drive its demand over the forecast period in residential and commercial construction projects. These products are commercially available in several colors, textures, and design patterns and have attracted the attention of consumers for the past couple of years. In addition, the product is gaining recognition among middle-class consumers due to its visual resemblance to products made from concrete, natural stone, and wood flooring and significantly low cost. Luxury Vinyl Tiles is projected to witness a remarkable rate of growth due to the product’s affordability, low maintenance, excellent water resistance, and easy to clean properties.

The vinyl flooring, because of their low noise levels and easy maintenance, is considered to be ideal for high traffic applications such as restaurants, cafes, and offices. Technological advancements in the sector to introduce easy-to-install self-adhesive flooring products can lead to high demand for flooring products. In particular, the demand in the residential segment is expected to be high. The prime end-user of vinyl tiles, thanks to their superior esthetical appeal, is expected to be nonresidential areas such as shopping malls and hotels.

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Top Companies Profiled in the Report:

Armstrong World Industries Inc., Mannington Mills Inc., Forbo, Boral Limited, Brumark Corporation, Mohawk Industries, Inc., Beaulieu International Group, Tarkett, Shaw Industries Group, Gerflor Group Inc., Interface, among others.

Market Overview:

The global Vinyl Flooring market is rapidly expanding over the last few years and is expected to register a robust CAGR in the coming years. Technological advancements, increasing need to develop sustainable and biodegradable products, and rising disposable income across the globe are key factors boosting global market growth. Increasing investments and funding from government to support materials and chemical industry and increasing demand for chemicals and raw material in various sectors including pharmaceutical and biotechnology, food and beverage, and increasing awareness about organic soaps and perfumes are further expected to fuel market growth.

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Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Luxury Vinyl Tiles
  • Vinyl Sheets
  • Vinyl Tiles

Material Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Wood Plastic Composite
  • Stone Plastic Composite
  • Others

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

  • Residential
  • Commercial
  • Industrial

Regional Analysis covers:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Further key findings from the report suggest

  • The Luxury Vinyl Tiles segment will rise at 9.0% in terms of revenue at the fastest CAGR over the forecast period.
  • In the market segment of commercial applications, vinyl flooring dominated the market with a share of revenues of over 65.1%: the hospitality, institutional segments, and office segments driven the majority of demand.
  • All major players in the industry have invested heavily in R&D ventures in recent years and led to several innovative products. The principal players are seeking to enhance their product portfolio through strategic mergers and purchases of SMEs. Thus, the intense rivalry between players is anticipated in the coming years.

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