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.
Browse 64 Market Data Tables 93 Figures 166 Pages and in-depth TOC on "Vinyl Flooring in the Global Construction Market" http://www.lucintel.com/vinyl-flooring-in-construction-market.aspx
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.
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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.
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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]:
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]:
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 click on this link http://www.lucintel.com/toc/vinyl-flooring-in-construction-market.aspx or firstname.lastname@example.org .
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