The global vinyl flooring market is predicted to register a momentous growth at a splendid CAGR over the predicted years (2016-2022). Vinyl flooring has gained immense recognition over the years owing to its alluring characteristics. It is designed to seem as realistic as it is possible and when it comes to its design possibilities it is truly endless. These floors are available in both sheet and tile form for both residential and commercial use. Also known as resilient floors they are highly moisture-resistant, easy to maintain and durable compared to many alternative materials. Thus, it is highly preferred for bathrooms, residential kitchens, commercial, retail establishments and healthcare facilities. The best part, it comes in myriad colors and styles and also in shapes which can be custom cut. It is widely utilized in healthcare facilities as it is impervious to water thereby providing notable sanitary benefit over carpeting. Such characteristics are crucial especially for day care centres, nursing homes, extended care facilities and hospital rooms. Besides, it works well with homes that are newly constructed for families on a tight budget and with kids and pets.
There are abundant factors that is propelling the growth of the vinyl flooring market. These factors as stated by the Market Research Future (MRFR) report include increase in consumers purchasing power, increasing disposable income, the environment-friendly nature, growing construction and building activities, growing attention of consumers for aesthetics in construction, versatility and easy installation and maintenance. On the contrary, shortage of labors, inability of taking heavy loads, susceptibility of getting damaged through sharp objects, direct sunlight may fade the color, damage resulting from extreme temperature and the need for greater skills and extensive training needed for vinyl flooring installation are factors that may deter vinyl flooring market growth over the predicted years.
Market Segmentation
MRFR report provides an extensive segmental analysis of the vinyl flooring market on the basis of product and application.
Based on application, it is segmented into non-residential (business applications) and residential application (homes). Of these, residential application will garner the maximum share in the market over the predicted years.
Based on product, the vinyl flooring market is segmented into vinyl sheet, printed vinyl, luxury vinyl tiles, carpets and others. Of these, luxury vinyl tile will dominate the market over the predicted years.
Regional Analysis
By region, the vinyl flooring market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, Asia Pacific will witness a towering growth over the predicted years owing to development of the construction industry, changing preference and lifestyle of people, and population growth that offers immense potential for new infrastructure development and housing demand. India, China and Japan are the key contributors here. The vinyl flooring market in North America will have a favorable growth over the predicted years owing to government initiatives and regulations that are encouraging eco-friendly housing, demand for eco-friendly houses and established construction industry. Canada and the USA are the country-specific markets that are garnering utmost market revenue. In Europe too, the vinyl flooring market will have a notable growth. The UK, Germany and France are the most vital country-specific markets here that is contributing towards a significant growth. On the other side, the Rest of the World that covers Middle East and African countries will have a small share in the market over the predicted years. This is owing to lack of advancement in technology, lack of education, lack of awareness and poor countries.
Key Players
Leading players profiled in the vinyl flooring industry include TOLI Floor Corporation (Japan), Tarkett Group (France), Shaw Industries Group Inc. (USA), Polyflor Ltd. (UK), Mohawk Industries (USA), Mannington Mills Inc. (USA), Interface Inc. (USA), Gerflor Group (France), and Armstrong Flooring Inc. (USA).
May 2019- To commemorate Bauhaus’ 100th year, Atrafloor has come up with its latest vinyl flooring that is inspired by the iconic geometric design and art of Bauhaus. The flooring has simple geometrics and architectural elements in a range of block, bold color palettes (yellow, green, blue and red) inspired via Bauhaus art school’s influential work.
