The global vinyl flooring market is projected to reach $20.1 billion by 2028, at a CAGR of 3.8% during 2023-2028. The growth of vinyl flooring market is driven by growth in residential construction and renovation activities. Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the vinyl flooring market by product (vinyl sheet, luxury vinyl tile, and vinyl composite tile), end use (residential and non-residential), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the vinyl flooring market?
Q.4 What are some changing demands of customers in the vinyl flooring market?
Q.5 What are the new developments in the vinyl flooring market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this vinyl flooring area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this vinyl flooring market?
Emerging trends, 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.
Market Segmentation:
Based on product, the vinyl flooring market is segmented into vinyl sheet, luxury vinyl tile, and vinyl composite tile. The vinyl sheet segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to their superior properties such as water-resistance, slip resistance, and ease of maintenance.
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.
Key Players in the vinyl flooring market are Shaw Industries, Tarkett, Mohawk Industries, Gerflor, and Mannington Mills.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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Roy AlmaguerLucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. 972.636.5056
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