Vinyl Flooring Market To Go Past $41,000 By 2028

Luxury Vinyl Flooring

The recently published Vinyl Flooring Market analysis for 2018-2028 has some interesting projections. The report examines the vinyl flooring market, while offering vital market insights for a period of 2018 to 2028. 

One key insight that standout is the that of the plank segment. The report indicates that the plank segment will remain a prominent segment in the market, and it is expected to record a CAGR of more than 7.0% during the period of 2018 to 2028. What’s more, the market segment will account for 40% share of the entire market value during the period of 2018 to 2028. Globally, the entire vinyl flooring market is expected to go past $41,000Mn by the end of 2028. 

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Global Vinyl Flooring Market: Key Dynamics 

Part of reasons why the global vinyl flooring market is seeing unprecedented growth is the increase in the number of infrastructural activities in various parts of the world. There are more infrastructural activities taking place in both developed and third world countries like never before. 

Global Vinyl Flooring Market: Applications

Consumers are calling for better flooring options and as such there is a need for the industry to be versatile. Leading manufacturers are answering the call, and are making waterproof, and stain-resistant floorings to meet the market demands. These versatile flooring options focus on using digital printing and 3D printing techniques for developing vinyl planks and products. What these technological advancements provide is that end users can easily duplicate any original material like metal, wood or gravel to meet their taste. Take for example, Tarkett is collaborating with Philip lighting to produce LED embedded tiles. These tiles can act as a guide in residential or commercial buildings. 

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With noticeable rise in the number of small and medium businesses, there is a sharp demand for infrastructure. In addition, there are lots of infrastructural work going in residential and commercial areas. With an ever growing demand in construction works, the flooring market will continue to gain massive growth in the forecast period. 

Some of the diverse array of vinyl flooring options available are stain-resistant, water-proof and easy to clean. In addition, vinyl flooring is considered by many to be a decorative flooring option thanks to its modern upgrades and contemporary looks. Vinyl flooring is durable, which makes it ideal for high-traffic areas. 

Global Vinyl Flooring Market: Forecast 

Vinyl flooring is a growing industry, and the commercial segment is in line to see tremendous growth in volume in the next ten years. The commercial segment will account for more than 56.5% share in the overall market value from 2018-2028. This is thanks to the various application of vinyl flooring in different constructions. 

Global Vinyl Flooring Market: Region 

Western Europe is leading the global vinyl flooring market. The region is expected to grow at around 7.3% CAGR. South East Asia and Pacific region is expected to record massive CAGR in the forecast period. The aforementioned regions in addition with North America and China are in line to register growth rates in the global vinyl flooring market in the next ten years 

Vinyl Flooring Market Segmentation 

Basis of format 

  • Plank
  • Tile 
  • Sheet

Basis of application 

  • Residential 
  • Commercial 
  • Industrial 

Product type 

  • Printed 
  • Inlaid

Global Vinyl Flooring Market: Competitive Landscape 

Some of the top names in the market include

  • Forbo Group
  • Tarkett 
  • Shaw Industries Group 
  • James Halstead 
  • TOLI Corporation 
  • TAKIRON Corporation 
  • AFI Licensing LLC