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Opportunities For The Global Vinyl Flooring Market To Reach $17.5 Billion By 2024
According to a new market report published by Lucintel, the future of the global vinyl flooring market looks promising with opportunities in residential and non-residential applications. The global vinyl flooring market is expected to reach an estimated $17.5 billion by 2024 with a CAGR of 4.5% from 2019 to 2024. The major drivers for this market are growth in residential construction and renovation activities.
In this market, vinyl sheet, luxury vinyl tile, and vinyl composite tile are used in residential and non-residential floorings. On the basis of comprehensive research, Lucintel forecasts that the vinyl sheet will remain the largest segment over the forecast period due to their superior properties such as water-resistance, slip resistance, and ease of maintenance.
Within this market, vinyl flooring for non-residential will remain the largest segment during 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.
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.
Emerging trends in the global vinyl flooring market, which have a direct impact on the dynamics of the industry, include growing adoption of loose lay flooring - an innovative form of luxury vinyl tile and increasing demand for phthalate-free vinyl flooring. Shaw Industries, Tarkett, Mohawk Industries, Gerflor, and Mannington Mills are among the major suppliers of vinyl flooring.
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 has compiled a comprehensive research report entitled “Growth Opportunities in the Global Vinyl Flooring Market 2019-2024”. 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 [Value ($M) and Volume (M Sqm) from 2013 to 2024]:
• Vinyl Sheet
• Luxury Vinyl Tile (LVT)
• Vinyl Composite Tile (VCT)
By End Use [Value ($M) and Volume (M Sqm) from 2013 to 2024]:
By Region [Value ($M) and Volume (M Sqm) from 2013 to 2024]:
• North America
o United Kingdom
This 205-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. We offer 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 the global 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)?
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 initiated 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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