According to the recent study the vinyl flooring market is projected to reach an estimated $21.1 billion by 2027 from $15.5 billion in 2021, at a CAGR of 4.3% from 2021 to 2027. Growth in this market is primarily driven by growth in residential construction and renovation activities.
Browse 67 figures / charts and 90 tables in this 189 -page report to understand trends, opportunities and forecast in 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).
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“Vinyl sheet market is expected to remain the largest segment during the forecast period.”
Based on product, the vinyl flooring market is segmented into vinyl sheet, luxury vinyl tile, and vinyl composite tile. Lucintel forecasts that the vinyl sheet market is expected to remain the largest segment due to their superior properties such as water-resistance, slip resistance, and ease of maintenance.
“Within the vinyl flooring market, the non-residential segment is expected to remain the largest end use”
Based on end use the non-residential segment is expected to witness the highest growth over the forecast period due to the increase in demand for luxury vinyl tiles in non-residential buildings, such as offices, hotels, educational institutions, and hospitals.
“Asia pacific will dominate the vinyl flooring market in near future”
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.
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Major players of vinyl flooring market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Shaw Industries, Tarkett, Mohawk Industries, Gerflor, and Mannington Mills are among the major vinyl flooring providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/vinyl-flooring-market.aspx or [email protected]