Certified Global Research Member

Key Questions Answered

Global Market Outlook
In-depth analysis of global and regional trends
Analyze and identify the major players in the market, their market share, key developments, etc.
To understand the capability of the major players based on products offered, financials, and strategies.
Identify disrupting products, companies, and trends.
To identify opportunities in the market.
Analyze the key challenges in the market.
Analyze the regional penetration of players, products, and services in the market.
Comparison of major playersâ€™ financial performance.
Evaluate strategies adopted by major players.
Recommendations

Why Choose Market Research Future?

Vigorous research methodologies for specific market.
Knowledge partners across the globe
Large network of partner consultants.
Ever-increasing/ Escalating data base with quarterly monitoring of various markets
Trusted by fortune 500 companies/startups/ universities/organizations
Large database of 5000+ markets reports.
Effective and prompt pre- and post-sales support.

Vinyl Flooring Market Share

ID: MRFR//1523-HCR | 111 Pages | Author: Sakshi Gupta| November 2024

The growth in the construction area including offices and commercial buildings which is also demanding the use of vinyl flooring further speed up the market growth. Compared with the wood and carpet tiles, this flooring is easy on the pocket for room updates or replacement. This measure could lead to the expanding market. Additionally, such floorings are better off in terms of superior comfort and sound insulation and this is anticipated to increase market share which is specifically promoted for multistory buildings.

Soaring consumer demand for low-cost, easy to install and light-weight materials in the residential construction segment remains the principal thrusting force driving this market during the forecast period. There are growing number of montifamily homes as the population rate is rising causing the market growth to be greater. Customization and individuality gain more influence in the construction market, thus giving rise to more investments in product design and development as well as in different colors, textures, design patterns, and dimensions.

In the the dry and dynamic Vinyl Flooring Market, companies apply the whole arsenal of strategies to make their presence unique and prominent in the industry. The essence of market share positioning revolves around looking for new products, enhancing product packages, improving quality of services and creating product differentiation. Companies tend to make investment in research and development so as to make vinyl flooring durable, long-lasting and environmentally friendly. In that process, texture, material, and installing vinyl flooring become important features. Firms, by providing the innovating decisions (they’ll) attract those customer who look for the stylish and resilient flooring options for their houses, commercial and overall projects.

The Vinyl Flooring Market setting pricing strategies influences positions on shares in the market. Some other manufacturers rather go for price-based leadership strategy, as they produce vinyl floors with the purpose to be a supply on market to low price buyers. Alternatively, there are companies that are known for their premium pricing strategies and it is because these companies produce products that are of superior quality, have unique designs, or are water-resistant like the new waterproof phone that was launched recently. The premium format seeks those consumers who choose the costlier, but long-wearing vinyl floors giving higher revenue and the impression of a high level of service.

Guaranteeing good and widespread distribution ties is of course a primary step for trying to get the market share. Companies team up with private vinyl companies, contractors and interior designers in order to make sure their vinyl flooring is widely available. Apart from the market circulation , it will be an added advantage because the customers will have an easier time accessing the revolutionary flooring materials when they are constructing or renovating their spaces. The accountability is central to powering choices; companies are now compelled to strategize the way they achieve the demand critically.

Vinyl Flooring Market Highlights:

Vinyl Flooring Market Trends

Vinyl Flooring Market Analysis

Vinyl Flooring Market Share

Vinyl Flooring Companies

Global Vinyl flooring Market Overview

The Vinyl Flooring Market Size was valued at USD 42.8 Billion in 2023. The Vinyl flooring industry is projected to grow from USD 45.09 Billion in 2024 to USD 71.78 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.98% during the forecast period (2024 - 2032). Vinyl flooring is a resilient flooring that is mostly used in the construction industry. This flooring material is fabricated from a combination of limestone-based material and composites of natural and synthetic polymer materials such as plasticizers and polyvinyl chloride. This type of flooring is easy to maintain, offers more moisture resistance, and is more durable compared to other flooring solutions. Vinyl floor coverings are used to enhance interior looks, aesthetics, and comfort underfoot in various residential and commercial structures. Due to their easy maintenance, low weight, and cost-effectiveness, consumers are shifting their lifestyle from traditional stone floorings to resilient floorings. However, the development of infrastructure in various sectors like healthcare, industrial automotive, healthcare, education, and the rise in residential construction and homeowners boost the market growth.

Vinyl flooring Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vinyl flooring Market Trends

Creation of an Innovative Product

The availability of multilayer flooring products is the primary innovation in the vinyl flooring industry. The industry is being boosted by multilayer flooring goods including hardcore, wood plastic composite, and other hybrid flooring solutions that are predominantly comprised of vinyl. Multilayer flooring provides stronger resilience to temperature and humidity change, which supports residential flooring, and requires less labour and money to manufacture before installation.

Increasing demand in the construction sector

The global construction industry's massive growth is anticipated to fuel the market for vinyl flooring. The demand for vinyl flooring is anticipated to be driven by many factors, including the expanding non-residential and residential building, maintenance, and remodeling activities, improved aesthetic appeal, and the high durability of these products.

Vinyl flooring Market Segment Insights

Vinyl flooring Product Insights

The market segmentation, based on Product, includes Vinyl sheets, Luxury Vinyl tiles, Printed Vinyl, Carpets, and Others. The Luxury Vinyl tiles segment may dominate the market. Due to the preference for soft covering and changing consumer preferences towards low-maintenance flooring solutions. It is more durable and offers better performance compared to standard vinyl tiles. The availability of the product in numerous designs and textures makes the LVT preferable.

Vinyl flooring Application Insights

Based on Application, the global market segmentation includes Residential and Non-residential. The non-residential application is holding the largest market share as commercial segments like hotels, and shopping malls are the key users of these tiles due to the tile's benefits cost-effectiveness coupled with superior aesthetics. The use of vinyl flooring in the growing influence of designers and architects is predicted to accelerate the demand for the product. The features such as easy cleaning & sterilization, stylish designs, and slip & water resistance are boosting the demand for the products in a commercial applications.

Figure 2: Vinyl Flooring Market, by Application, 2022 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vinyl flooring Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The market was led by Asia Pacific, and this tendency is predicted to persist during the anticipated time frame. The Asian flooring industry has historically been dominated by ceramic tiles, but evolving consumer tastes that call for product variety and improved designs are anticipated to have a favorable effect on market growth. China has been the largest user of vinyl flooring and the greatest market for development in the area. The country's demand for the commodity is anticipated to increase at a rapid CAGR. The development of contemporary architectural structures in the nation's building and construction trends is probably going to have a favorable effect on market growth.

Figure 3: VINYL FLOORING MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vinyl flooring Key Market Players & Competitive Insights

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Vinyl flooring industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Vinyl flooring industry to benefit customers and expand the market sector. Major market players, including Gerflor Group, Mohawk Industries, Armstrong Flooring Inc, Shaw Industries Group Inc, and others, are attempting to increase market demand by funding R&D initiatives.

Gerflor is a producer and supplier of attractive, environmentally friendly vinyl flooring, and also wall finishes for the infrastructure sector. The business helps customers in the healthcare, automotive, sports events, sports federations, education, and public housing industries obtain the facilities they want by providing flooring, indoor sports surfaces, and interior fittings.

Mohawk Industries makes carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring, among other things. The Georgia-based firm has evolved from a domestic carpet maker to a global leader in the varied flooring sector.

List of the Key Companies in the Vinyl flooring market include

Gerflor Group

Mannington Mills Inc

Tarkett Group

Interface Inc

Mohawk Industries

Armstrong Flooring Inc

Shaw Industries Group Inc

Toli Floor Corporation

Polyflor Limited

Congoleum Corporation

Vinyl flooring Industry Developments

March 2021: Armstrong Flooring introduced three LVT collections: Biome, Terra, and Coalesce, all of which include unique diamond ten technology. The thinner profile of these three collections, with a 2.5 mm structure, reduces the number of raw materials and energy consumed during manufacture, resulting in a 31 % reduced carbon footprint.September 2023: Mannington Mills launches new luxury vinyl plank collection with a focus on sustainability: Mannington Mills, a leading US flooring manufacturer, launched a new luxury vinyl plank (LVP) collection called "Revive". The collection is made with recycled content and is designed to be environmentally friendly.August 2023: New study finds vinyl flooring is a more sustainable flooring option than hardwood: A new study from the University of California, Berkeley found that vinyl flooring is a more sustainable flooring option than hardwood. The study found that vinyl flooring has a lower environmental impact in terms of greenhouse gas emissions, water use, and deforestation.

Vinyl flooring Market Segmentation

Vinyl flooring Product Outlook

Vinyl sheet

Luxury Vinyl tiles

Printed Vinyl

Carpets

Other

Vinyl flooring Application Outlook

Residential

Non-residential

Vinyl flooring Regional Outlook

North America
- US
- Canada

Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific

Rest of the World
- Middle East
- Africa
- Latin America

Vinyl Flooring Companies

Leading companies partner with us for data-driven Insights

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
	Single User	$ 4,950
	Multiuser License	$ 5,950
	Enterprise User	$ 7,250
Compare Licenses

Tailored for You

Dedicated Research on any specifics segment or region.
Focused Research on specific players in the market.
Custom Report based only on your requirements.
Flexibility to add or subtract any chapter in the study.
Historic data from 2014 and forecasts outlook till 2040.
Flexibility of providing data/insights in formats (PDF, PPT, Excel).
Provide cross segmentation in applicable scenario/markets.

FEATURES	LICENCE TYPE
FEATURES	Single User	Multiuser Licence	Enterprise User
Price	$ 4,950	$ 5,950	$ 7,250
Maximum User Access Limit	1 User	Upto 10 Users	Unrestricted Access Throughout The Organization.
Free Customization
Direct access to the Analyst
Deliverable Format
Deliverable Format
Platform Access
Discount on Your Next Purchase	10%	15%	10%
Printable Versions