Resilient Flooring Market Size, Share & Trends Analysis Report By Product (LVT, Vinyl Sheet, VCT, Fiberglass, Linoleum), By Application (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global resilient flooring market size was valued USD 1.19 billion in 2018 and is expected to register a CAGR of 4.9% from 2019 to 2025. This growth is attributed to the drastic development in the infrastructure sector as a result of rising need for IT parks, housing projects, and other such big projects. Government regulations restrict the use of hazardous floor covering materials and mandate manufacturers to comply with the Leadership in Energy and Environmental Design (LEED) certification for VOC emissions.

This has resulted in constant innovation, in terms of floor covering solutions, thereby augmenting resilient flooring market growth. Thus, changing trends in construction solutions and floor designs have been critical factors in the industrial development over the past few years. Rapid urbanization along with the growing construction sector in India, China, and other developing countries, is also contributing to the market expansion. The rising importance of reinforcement in polymer industry along with increasing awareness about the benefits of fillers for improving the properties of the main material is expected to force Vinyl Composite Tile (VCT) manufacturers to increase their R&D capabilities.

However, high market share of soft coverings and non-resilient floorings including ceramic tiles in developing markets is expected to remain a concerning factor over the forecast period. Asia Pacific is projected to be the dominant regional market due to favorable market trends in housing sectors of emerging economies like China and India. Growing need for residential projects in such countries is expected to offer new opportunities for vinyl-based insulation flooring materials over the forecast period. Presence of a number of leading MNCs of the oil & gas, automotive, pharmaceuticals sectors in U.S. will drive the regional market.

High penetration of infrastructural structures for commercial, industrial, and residential applications in U.S. is expected to have a positive impact on overall market. Rising application scope of staircase and shop floors is anticipated to fuel the demand for resilient flooring over the forecast period. In addition, growing awareness about Heating, Ventilation, and Air Conditioning (HVAC) clean room in the pharmaceutical industry coupled with positive healthcare sector outlook in U.S. is anticipated to drive the demand further.

Product Insights

Luxury Vinyl Tile (LVT) is expected to remain one of the favorable product segments on account of the product’s increasing acceptability as durable materials. Moreover, high aesthetic value, flexibility to use in numerous spaces, and ease of installation are likely to boost their demand further. Linoleum, fiberglass, and other products including rubber, cork, and asphalt are niche markets and are expected to have a high potential for growth over the forecast period on account of rising demand for eco-friendly flooring solutions.

Application Insights

In terms of application, global market is segmented into residential, commercial and industrial applications. The residential segment is projected to be the largest and fastest-growing application over the forecast period. Growing housing sector in developed markets including U.S. and Germany due to regulatory support is expected to boost the product demand in this segment.

The industrial application is anticipated to be the second fastest-growing segment on account of rise in demand for resilient flooring products in a wide range of industrial applications including manufacturing sector shop floors, exploration rigs, drilling sites, and utility offices located near mining areas.

Regional Insights

Asia Pacific is projected to lead the market accounting for the largest market share of 33.79% by 2025. Growing construction industry in developing countries, such as India and Thailand, due to regulatory support for infrastructure development is anticipated be the key factor triggering the product demand. Growing economic prominence of China, India, and other countries owing to the presence of a large consumer base, cheap labor, and high level of resources is driving the construction industry, which is expected to support the overall market expansion.

Europe was the second-largest regional market, in terms of revenue, in 2018 owing to increased demand from residential and non-residential applications. It is further projected to contribute significantly to the global market growth owing to well-established construction industry, rapid infrastructural and industrial developments, and supporting macro-economic factors. Germany, Italy, and the U.K. are the major revenue-generators in Europe.

Resilient Flooring Market Share Insights

The market is fragmented in nature owing to the presence of numerous manufacturers on a global level. Most companies are concentrated in mature markets including Europe and North America. Tarkett S.A.; Mohawk Group; Armstrong World Industries, Inc.; and Mannington Mills, Inc. are some of the leading companies in the global market. Together, these companies accounted for over 50% of the overall market share. These companies invest heavily in R&D capabilities to develop innovative products to maintain their industry position.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global resilient flooring market report on the basis of product, application, and region:

• Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2015 - 2025)

  • LVT

  • VCT

  • Vinyl Sheets

  • Fiberglass

  • Linoleum

  • Others

• Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2015 - 2025)

  • Residential

  • Commercial

  • Industrial

• Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2015 - 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East and Africa

    • South Africa