Vinyl Flooring Market to witness Impressive Global Growth in Production-Consumption Ratio through 2025
Global Vinyl Flooring Industry was valued at USD 24.206 Million in the year 2018. Global Vinyl Flooring Industry is further estimated to grow at a CAGR of 13.2% from 2019 to reach USD 57,626 Million by the year 2025. Vinyl flooring is a new type of resilient and robust flooring used in various residential and commercial buildings such as homes, offices, hotels, and others.
Asia Pacific region accounts for the largest Industry share and is expected to grow at highest CAGR during the forecast period of 2019 to 2025. At the country level China and Japan is the major markets in the Asia Pacific region and holds a substantial Industry share in 2018 and it is projected to grow at a gradual pace in the coming years. The reason is attributed to the growth in the construction industry and changing lifestyle and preference of the people.
The global vinyl flooring Industry is segmented on the basis of product, by application, and Region. Based on product, luxury vinyl tile (LVT) holds the highest Industry share in the forecasted period and is expected to grow at the highest CAGR of XX% in the forecasted period. On the basis of application, the global Vinyl Flooring Industry is segmented on the basis of a Residential and Non-Residential application of which Residential housing Industry accounts for the largest Industry share of vinyl flooring.
Major market players in Vinyl Flooring Industry are Mohawk Industries are Gerflor Group, Armstrong Flooring, Inc., Mannington Mills, Inc., Shaw Industries Group, Inc., Tarkett group, Toli floor Corporation, Interface Inc., Polyflor Ltd., and 8 more companies detailed information is provided in the report.
SWOT analysis of Vinyl Flooring Industry
Increasing purchasing power
Growing demand for luxury residential floorings
Stringent government regulations
Growing number of homeowners and residential construction
High Research and Development Cost
Vinyl Flooring Industry Overview, By Product
• Vinyl Sheet
• Luxury Vinyl Tiles
• Printed Vinyl
Vinyl Flooring Industry Overview, By Application
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Vinyl Flooring Industry Overview, By Region
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa