Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Vinyl Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global vinyl flooring market size reached US$ 46.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 79.2 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028.
The Global Vinyl Flooring Market is gaining momentum, driven by the evolving needs of the construction industry for materials that offer aesthetics, durability, and low maintenance. With applications spanning hospitality, healthcare, residential, and retail sectors, vinyl flooring has become a go-to solution for contemporary construction challenges such as water damage and staining.
Key factors propelling market growth include the global rise in luxury housing projects and higher disposable incomes, which have generated significant demand for cost-efficient and low-maintenance materials. Vinyl flooring has been increasingly adopted in offices and commercial spaces due to its affordability and ease of maintenance.
Further boosting the market is the escalating demand for multifamily housing to accommodate surging global populations, offering new growth avenues for investors.
Manufacturers are actively investing in research and development to meet consumer demands for customization, including options in colors, designs, patterns, and textures. Among recent innovations are self-adhesive flooring options that add to the ease of installation.
Key Questions Answered in This Report
- What was the size of the global vinyl flooring market in 2022?
- What is the expected growth rate of the global vinyl flooring market during 2023-2028?
- What has been the impact of COVID-19 on the global vinyl flooring market?
- What are the key factors driving the global vinyl flooring market?
- What is the breakup of the global vinyl flooring market based on the product type?
- What is the breakup of the global vinyl flooring market based on the sector?
- What are the key regions in the global vinyl flooring market?
- Who are the key players/companies in the global vinyl flooring market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $46.5 Billion |
| Forecasted Market Value (USD) by 2028 | $79.2 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
Some of these players are
- Tarkett
- Mohawk
- Armstrong World Industries Inc.
- Shaw Industries Inc.
- Mannington Mills Inc.
- Beaulieu International Group
- Gerflor
- Forbo
Key Market Segmentation:
Performance by Product Type:
Luxury vinyl tile (LVT) is currently the most commonly used product as it is a low-cost alternative for tile or planks.
- Vinyl Sheet
- Luxury Vinyl Tile (LVT)
- Vinyl Composition Tile (VCT)
Performance by Sector:
Presently, the residential sector dominates the market due to the rising demand for enhanced residential construction materials.
- Residential
- Commercial
Performance of Key Regions:
The Asia Pacific enjoys the leading position in the market on account of the growing demand for aesthetically appealing, durable, and easy to maintain floorings.
- Asia Pacific
- North America
- Western Europe
- Eastern Europe
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/m1si57
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