Vinyl flooring is a new type of resilient flooring in the market. Resilient flooring is simply artificial composite floors such as rubber, plastic, PVC, linoleum and the latest addition, Vinyl. Such synthetic flooring, which has been around for more than a century, act as a cost effective substitute to natural floors such as wood, concrete, ceramic and marble.
Vinyl, a synthetic material, made from chlorine and ethylene is mostly used in construction activities especially in flooring. Vinyl flooring is a type of tough flooring which is more and easy to maintain durable.Scratch free, easy to maintain and wear resilient are some of the major advantages vinyl flooring over other floorings that are keeping it at a competitive edge.
The global vinyl flooring market is segmented on the basis of component type, product type, format type, end user and region. On the basis of component type, the global market is classified into Polyvinyl Chloride (or vinyl) Resins, Plasticizers, a Carrier sheet or Backing, Pigments & Trace Stabilizers. On the basis of product type, the global market is classified into printed vinyl and inlaid vinyl. On the basis of format type, the global market is classified into Vinyl Sheet, Vinyl Tile, and Luxury Vinyl Tile, which is moderately new and the highest end vinyl flooring.
Luxury Vinyl Tile (LVT) segment account for the largest market share of vinyl flooring and is expected to remain dominant over the forecast period of 2014 to 2025. This is because LVT is user friendly, that is easy to install and can be laid on any formation. LVT in precise contains more vinyl, which in turns creates a better-performing flooring system that appears more realistic. On the basis of end users, the global market share spans residential, and commercial.
Residential housing market accounts for the largest market share of vinyl flooring and is expected to grow at highest CAGR during the forecast period of 2014 to 2025. The residential market in particular proved to be a major benefit for vinyl flooring. Commercial growth in various industries has also proven to help the vinyl flooring segment grow. More and more companies are turning to the toughness and realism of vinyl flooring products to outfit their headquarters or retail centers.
Geographically, the global market share spans North America (U.S., Canada, Latin America: Mexico, Brazil), Western Europe (Germany, Italy, France, England, Spain, Nordic countries, Belgium, The Netherlands, Luxembourg), Eastern Europe (Poland, Russia), Asia Pacific (China, India, ASEAN, Australia & New Zealand, Japan), Middle East and Africa (GCC, S. Africa, N. Africa).
Asia Pacific region accounts for the largest market share and is expected to grow at highest CAGR during the forecast period of 2014 to 2025. This is due to growing demand for vinyl flooring due to the rise in infrastructural projects, increasing growth in automobile industry, and urbanization is responsible for raising the global vinyl flooring market. The growth in global vinyl flooring market is mostly affected by developing countries due to the increasing purchasing power. Also the increased commercial consumption of vinyl flooring in automotive, healthcare, manufacturing, retail and education is growing the global vinyl flooring market enormously.
North America is expected to witness the highest growth over the forecast period in terms of value and volume because of the recovery of the U.S. economy and growing residential and commercial building construction activities. The key players of the global market share areMohawk, Gerflor, Armstrong, Mannington Mills Inc, and Shaw Flor.
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