The global vinyl flooring market size was estimated at USD 25.6 billion in 2018 and is expected to expand at a CAGR of 7.4% from 2019 to 2025. Rising demand for low maintenance, cost-efficient, and lightweight construction materials in residential construction is likely to drive the market for vinyl floorings over the forecast period.
Rising demand for the product in high-traffic area construction segments such as offices and commercial spaces is likely to support market growth. The product is considered to be a cost-effective alternative for wood and carpet tiles. Furthermore, superior comfort and noise control offered by these floors are expected to propel their demand in multistory buildings over the projected period.
In the U.S., Luxury Vinyl Tiles (LVT) segment emerged as the largest product category in 2018, accounting for 58.4% of the total market revenue share. Traditionally, soft covering has been dominating the industry in the country. However, changing consumer preferences toward low maintenance flooring solutions are expected to drive the market for vinyl flooring.
The product is the most widely used type of resilient flooring solution. Consumers are shifting from traditional stone floorings to resilient floorings owing to their light weight, easy maintenance, and cost-effectiveness. A rising number of multifamily houses to accommodate the growing population is expected to have a positive impact on vinyl flooring market growth.
Technological advancements by manufacturers to introduce self-adhesive floorings have benefited the industry growth over the past few years. Moreover, increasing investments by key manufacturers to offer customized product solutions in different colors, design patterns, textures, and dimensions are fueling product penetration in the construction sector.
The product has a shorter lifespan as compared to its wooden counterparts. The products cannot be repaired and are also difficult to replace. Furthermore, vinyl floorings are considered to be less eco-friendly than their non-resilient counterparts as they may emit VOCs and are difficult to recycle. The aforementioned factors are expected to hamper the market growth over the projected period.
LVT is expected to remain the most popular category of vinyl flooring solutions and the segment is likely to grow at a CAGR of 9.0%, in terms of revenue, over the forecast period. LVT is more durable and offers better performance in comparison to standard vinyl tiles, which offers them a competitive advantage over their counterparts. LVT segment has caught the attention of consumers in the past few years owing to the availability of the product in numerous designs and textures. The introduction of digital printing technology to the flooring industry, which enables easy texture printing on these tiles, is likely to support the market growth over the projected period.
Vinyl tiles segment in Europe was valued at USD 2.2 billion in 2018 and is likely to grow at a CAGR of 4.2% from 2019 to 2025. Vinyl tiles are slightly expensive as compared to sheets, however, are they are easy to replace. As a result, they are preferably used in places where there are high chances of stains such as kitchens, cafes, and hotels.
The demand for vinyl sheet is expected to grow at a CAGR of 3.5% over the forecast period. These products are considered to be the most user-friendly solution for DYI applications. Furthermore, vinyl sheets offer better moisture resistance in comparison to tiles, as a result, they are considered to be most useful in moist areas such as bathrooms.
Commercial application segment accounted for the largest share of the vinyl floor market in 2018 and the segment is anticipated to grow at a CAGR of 7.5%, in terms of revenue, over the forecast period. Commercial construction segments such as hotels and shopping malls are expected to be the key users of these tiles as they offer cost-effectiveness along with superior aesthetics.
Rising influence of designers and architects for the use of vinyl flooring in commercial application is expected to boost product demand. Easy cleaning and sterilization and stylish designs and slip & water resistance offered by these products are likely to propel their demand in commercial application over the projected period.
The housing sector in emerging markets including South Africa, Turkey, and India is experiencing rapid growth on account of easy availability of home loans and changing consumer lifestyle. Consumers in the region are always on the lookout for affordable products, which is likely to favor the demand for vinyl floorings over the projected period.
Increasing consumer disposable income and urbanization in the emerging economies are expected to propel the growth of the residential construction sector. Majority of the population in developing economies prefer rental houses to get the benefits of amenities, which is expected to drive the multi-family construction segment, thereby influencing the market growth positively.
Asia Pacific dominated the market in terms of both volume and revenue in 2018 and the trend is likely to continue over the projected period. Traditionally, ceramic tiles, have been dominating the Asian flooring market, however, changing consumer preferences that demand variation in the product and better designs are likely to have a positive impact on market growth.
China has been the largest construction market in the region, as well as the largest consumer for vinyl flooring. The demand for the product in the country is likely to grow at a CAGR of 9.3% over the projected period. Changing building and construction trends in the country to develop modern architecture structures are likely to have a positive impact on market growth.
The demand for vinyl flooring in the U.S. is expected to grow at a CAGR of 3.5% over the forecast period. The Southeast states of the U.S. are expected to witness a healthy growth rate over the projected period. The construction sector in these states is likely to grow at a CAGR of 5% to 7%, which, in turn, is expected to have a positive impact on market growth.
In Canada, western Canadian provinces and territories are expected to be the key markets for the product. Over 40% of the overall population of Canada is located in Ontario. Rising investments in single-family constructions in this region on account of the growing population are likely to have a positive impact on the market growth.
Armstrong Flooring, Inc.; Mannington Mills, Inc.; Mohawk Industries, Inc.; Tarkett S.A.; Forbo Group; Shaw Industries Group, Inc.; and Beaulieu International Group are the key players in the market. Market players are expected to introduce products with low environmental impact and better durability to garner the attention of consumers. The players majorly compete on the basis of product quality and pricing.
Adore Floors, an LVT manufacturer, has introduced flooring products with recycled materials having maximum amount of LEED credits. The company has also introduced NanoSilver technology to produce sterile and germ-free flooring products. Additionally, it introduced MicroCeramic hardening agent to support flooring hardening and to enhance its lifespan.
Base year for estimation
Actual estimates/Historical data
2014 - 2017
2019 - 2025
Volume in Million Sq. Meters, Revenue in USD Million and CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
U.S., Canada, Mexico, U.K., Germany, Spain, Italy, France, Russia, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, Saudi Arabia, United Arab Emirates
Volume forecast, revenue forecast, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analysts working days)
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global vinyl flooring market report on the basis of product, application, and region:
Product Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2014 - 2025)
Luxury Vinyl Tiles
Application Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2014 - 2025)
Regional Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2014 - 2025)
Central & South America (CSA)
Middle East & Africa (MEA)
United Arab Emirates
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
"The quality of research they have done for us has been excellent."
The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.