The global vinyl flooring market revenue is expected to expand at a significant CAGR over the forecast period. Rise in construction projects and activities in various countries across the globe as well as growing focus toward interior decoration and comfort are expected to drive demand for the market.
Global market report has been segmented on the basis of product type, end-use and region. On the basis of product type, the target market is segmented into vinyl sheet, luxury vinyl tiles, printed vinyl, carpets and other. Luxury vinyl tile (LVT) segment provides superior design capabilities as compared to other traditional materials and commonly used in commercial sectors such as offices, retail, and hospitality.
On the basis of end-use, the target market is segmented into residential and non-residential. Residential segment accounts for largest market share due to continuously increasing private and focus towards aesthetic values. Such flooring is available in the form of sheets, tiles, and planks having impact resistance and easy maintenance, thus used for construction and renovation applications of houses.
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Based on region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to account for highest share in terms of revenue over the forecast period, owing to growing building & construction activities, rising urbanization, changing consumer preferences towards aesthetic values. Availability of vinyl flooring in different shapes, sizes, colors, and patterns makes it suitable for decorating and modernizing homes. Increasing renovation projects also contributes to growth of the target market. Moreover, rise in infrastructural projects, and urbanization is responsible for raising the global market.
Key players operating in the global vinyl flooring market include Armstrong World Industries, Inc., Berkshire Hathaway Inc., CBC Flooring, Congoleum Corporation, Forbo Holding AG, Tarkett S.A., Mannington Mills, Inc., Mohawk Industries, Inc., Gerflor SAS, IVC Group and Others.