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Opportunities For The Global Vinyl Flooring Market To Reach $16.2 Billion By 2023
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According to a new market report published by Lucintel, the future of the global vinyl flooring market looks good with opportunities in residential and non-residential floorings. The global vinyl flooring market is expected to reach an estimated $16.2 billion by 2023, and it is forecast to grow at a CAGR of 4.4% from 2018 to 2023. The major drivers for growth are increasing new construction and renovation activities.
Residential and non-residential are the segments of global vinyl flooring market by end use. On the basis of comprehensive research, Lucintel forecasts that the non-residential segment is expected to show above average growth during the forecast period.
Within the global vinyl flooring market, the non-residential segment is expected to be the largest segment. Increase in demand for luxury vinyl tiles in non-residential buildings, such as offices, hotels, educational institutions, and hospitals, is expected to drive the global vinyl flooring market in the future.
By product type, the global vinyl flooring market is segmented into vinyl sheet, luxury vinyl tile (LVT), and vinyl composition tile (VCT). LVT is the fastest growing market mainly due to its easier maintenance and installation combined with durability, range of colors and designs, and low cost.
APAC is expected to remain the largest market during the forecast period mainly due to a large construction base and increasing penetration level of vinyl flooring in this region. The awareness regarding the attractive features of vinyl flooring, particularly its ease of installation, low maintenance, and variety of modern designs, are also expected to drive the demand for the vinyl flooring market in the future.
North America is expected to witness the highest growth over the forecast period as LVT flooring is the preferred flooring as compare to other traditional flooring types in this region.
Emerging trends that have a direct impact on the dynamics of the industry include increasing demand for loose lay flooring and phthalate-free vinyl flooring. Shaw Industries, Tarkett, Mohwak Industries, Armstrong World Industries, and Gerflor are among the major suppliers of vinyl floorings.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global vinyl flooring market by product, end use, and region, and compiled a comprehensive research report entitled “Growth Opportunities for Vinyl Flooring in the Global Construction Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global vinyl flooring market by product, end use, and region, as follows:
By Product Type [Value ($ Million) from 2012 to 2023]:
• Vinyl Sheet
• Luxury Vinyl Tile (LVT)
• Vinyl Composition Tile (VCT)
By End Use [Value ($ Million) from 2012 to 2023]:
By Region [Value ($ Million) and Volume (M sqm) from 2012 to 2023]:
• North America
− United States
− United Kingdom
This 166-page 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 firstname.lastname@example.org. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for global vinyl flooring market by product, which includes vinyl sheet, luxury vinyl tile (LVT), and vinyl composition tile (VCT), by end use, residential and non-residential (healthcare, education, hospitality, retail, office, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?
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