Vinyl Flooring Market Analysis 2022
Residential floorings are cost-effective and environment-friendly. Therefore, their demand is rising. Vinyl flooring can be used anywhere and is preferred in the nonresidential segment due to easy to fix and easy maintenance. Market Research Future (MRFR) has published a research report about the global vinyl flooring market Share that forecasts growth for this market between 2016 and 2022.
Analyzing the market structure, this report offers insights about factors affecting the market growth. Weighing the market size and foretelling the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R&D), and strategic alliances.
The primary factors supporting the global vinyl flooring market growth are increasing disposable income and purchasing power of consumers and cost-effectiveness. Other factors supporting the market growth include environment-friendly nature of vinyl floorings, increased construction & building activities, and increasing consumer attention towards aesthetic value in construction.
The global vinyl flooring market has been segmented on the basis of application, product, and lastly, region. The application-based segmentation segments this market into the residential application and non-residential application. Residential applications are houses in which people live in. Non-residential applications are business establishments. Based on the product, the market has been segmented into carpets, luxury vinyl tiles, printed vinyl, vinyl sheet, and other.
The regional segmentation of the global vinyl flooring market segments the market into the global market into regional markets known as North America, Europe, Asia Pacific, and the rest of the world (RoW).
Currently, Asia Pacific is expected to be the largest regional market. The reason for the market growth in the Asia Pacific region is the changing lifestyle & preference of the people and growth in the construction industry. Population growth in this region also offers a huge potential for new housing demand and infrastructure development which is leading the market of vinyl flooring. The strongest economies in this region that can be potential markets are China, India, and Japan.
In North America, the market can grow due to established building & construction industry, demand for eco-friendly houses, and lastly, government regulations & initiatives to encourage eco-friendly housing. The country-specific markets generating the maximum market revenue are USA and Canada.
In Europe, the market is growing due to reasons same as North America. The most important country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.
The RoW segment covers countries of the Middle East & Africa (MEA). The MEA market is small due to poor countries, lack of awareness, lack of education, and lack of technological advancement.
Key Players
The key players in the global vinyl flooring market include Armstrong Flooring Inc. (USA), Gerflor Group (France), Interface Inc. (USA), Mannington Mills Inc. (USA), Mohawk Industries (USA), Polyflor Ltd. (UK), Shaw Industries Group Inc. (USA), Tarkett Group (France), and TOLI Floor Corporation (Japan).