What is Residential Vinyl Flooring Market?
Vinyl flooring is a popular flooring option in both residential and commercial spaces. It is made from artificial and natural polymer materials, and placed in recurring structural unit. Residential vinyl flooring has benefits such as, great replica designs for wood, Cost-effective, Low maintenance, and Moisture Resistance. Increasing consumer spending on home remodeling activities represents one of the key factors positively influencing the demand for luxury vinyl flooring across the globe.
Highlights from Residential Vinyl Flooring Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Armstrong Flooring, Inc (United States), Forbo Flooring Systems (Netherlands), Shaw Industries Group, Inc. (United States), Shaw Industries Group (United States), Mannington Mills (United States), Berkshire Hathaway Inc (United States), Mohawk Industries, Inc. (United States), LG Hausys (South Korea), Greflor (France) and Congoleum Corporation (United States) |
The companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The leading providers are heavily focusing on securing an important position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet high market share, and develop socially responsible business companies are identifying various strategic pillars such as mergers & acquisitions, new product launches, product enhancement, and others Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Residential Vinyl Flooring market throughout the forecasted period.
Armstrong Flooring, Inc (United States), Forbo Flooring Systems (Netherlands), Shaw Industries Group, Inc. (United States), Shaw Industries Group (United States), Mannington Mills (United States), Berkshire Hathaway Inc (United States), Mohawk Industries, Inc. (United States), LG Hausys (South Korea), Greflor (France) and Congoleum Corporation (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Tarkett S.A. (France), Longda Flooring (China), Yihua (China) and Interface (United States). Residential Vinyl Flooring Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Commercial and Residential |
Type | Vinyl Sheet Flooring and Luxury Vinyl Tiles |
End-User | Health Care,Hospitality,Retail,Others |
On the basis of geography, the market of Residential Vinyl Flooring has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand for Residential Vinyl Flooring in High-Traffic Construction Areas
- Changing Consumer's Preferences toward Low Maintenance Flooring Solutions
Market Trend
- Increasing Demand for Commercial Flooring
- Growing Population Demand toward to the Self-Adhesive Flooring
Restraints
- High Cost Associated with the Residential Vinyl Flooring
Opportunities
- Rising Penetration towards Urban Lodging and Accommodation Facilities
- Emerging Opportunity in the Housing Sector
Challenges
- Lack of availability of numerous Designs and Textures
Market Leaders & Development Strategies
On 9th December 2020, Cali launched a builder’s choice XL, a longer broader vinyl plank with commercial-grade durability. BCXL is ideal for the professional orders with the competitive price point appropriate for large-scale installation
On 14th January 2021, Mohawk industries announced the expansion of its production plant in Carroll County. The company will add 19,000 Sq. feet to its facility in Hillsville and install new extrusion and loom equipment to increase production speed.
Key Target Audience
Residential Vinyl Flooring Manufacturer, Residential Vinyl Flooring Distributors and Suppliers, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others