Global Vinyl Flooring Market Research Report- Forecast 2030

Vinyl Flooring Market Research Report Information By Product (Vinyl sheet, Luxury Vinyl tiles, Printed Vinyl, Carpets, Other), By Application (Residential, Non-residential), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) โ€“ Market Forecast Till 2030

ID: MRFR/CO/1523-HCR | 111 Pages | Author: Sakshi Gupta | March 2024         

Vinyl Flooring Market Speak to Analyst Request a Free Sample

Global Vinyl flooring Market Overview

The Vinyl Flooring Market Size was valued at USD 36.87 Billion in 2022. The Vinyl flooring industry is projected to grow from USD 40.80 Billion in 2023 to USD 68.36 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.02% during the forecast period (2023 - 2030). Vinyl flooring is a resilient flooring that is mostly used in the construction industry. This flooring material is fabricated from a combination of limestone-based material and composites of natural and synthetic polymer materials such as plasticizers and polyvinyl chloride. This type of flooring is easy to maintain, offers more moisture resistance, and is more durable compared to other flooring solutions. Vinyl floor coverings are used to enhance interior looks, aesthetics, and comfort underfoot in various residential and commercial structures. Due to their easy maintenance, low weight, and cost-effectiveness, consumers are shifting their lifestyle from traditional stone floorings to resilient floorings. However, the development of infrastructure in various sectors like healthcare, industrial automotive, healthcare, education, and the rise in residential construction and homeowners boost the market growth.
Vinyl Flooring Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vinyl flooring Market Trends

  • Creation of an Innovative Product

The availability of multilayer flooring products is the primary innovation in the vinyl flooring industry. The industry is being boosted by multilayer flooring goods including hardcore, wood plastic composite, and other hybrid flooring solutions that are predominantly comprised of vinyl. Multilayer flooring provides stronger resilience to temperature and humidity change, which supports residential flooring, and requires less labour and money to manufacture before installation.

  • Increasing demand in the construction sector

The global construction industry's massive growth is anticipated to fuel the market for vinyl flooring. The demand for vinyl flooring is anticipated to be driven by many factors, including the expanding non-residential and residential building, maintenance, and remodeling activities, improved aesthetic appeal, and the high durability of these products.

Vinyl flooring Market Segment Insights

Vinyl flooring Product Insights

The market segmentation, based on Product, includes Vinyl sheets, Luxury Vinyl tiles, Printed Vinyl, Carpets, and Others. The Luxury Vinyl tiles segment may dominate the market. Due to the preference for soft covering and changing consumer preferences towards low-maintenance flooring solutions. It is more durable and offers better performance compared to standard vinyl tiles. The availability of the product in numerous designs and textures makes the LVT preferable.

Vinyl flooring Application Insights

Based on Application, the global market segmentation includes Residential and Non-residential. The non-residential application is holding the largest market share as commercial segments like hotels, and shopping malls are the key users of these tiles due to the tile's benefits cost-effectiveness coupled with superior aesthetics. The use of vinyl flooring in the growing influence of designers and architects is predicted to accelerate the demand for the product. The features such as easy cleaning & sterilization, stylish designs, and slip & water resistance are boosting the demand for the products in a commercial applications.

Figure 2: Vinyl Flooring Market, by Application, 2022 & 2030 (USD Billion)
Vinyl Flooring Market, by Application
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vinyl flooring Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The market was led by Asia Pacific, and this tendency is predicted to persist during the anticipated time frame. The Asian flooring industry has historically been dominated by ceramic tiles, but evolving consumer tastes that call for product variety and improved designs are anticipated to have a favorable effect on market growth.  China has been the largest user of vinyl flooring and the greatest market for development in the area. The country's demand for the commodity is anticipated to increase at a rapid CAGR. The development of contemporary architectural structures in the nation's building and construction trends is probably going to have a favorable effect on market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Vinyl flooring Key Market Players & Competitive Insights

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Vinyl flooring industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Vinyl flooring industry to benefit customers and expand the market sector. Major market players, including Gerflor Group, Mohawk Industries, Armstrong Flooring Inc, Shaw Industries Group Inc, and others, are attempting to increase market demand by funding R&D initiatives.

Gerflor is a producer and supplier of attractive, environmentally friendly vinyl flooring, and also wall finishes for the infrastructure sector. The business helps customers in the healthcare, automotive, sports events, sports federations, education, and public housing industries obtain the facilities they want by providing flooring, indoor sports surfaces, and interior fittings.

Mohawk Industries makes carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring, among other things. The Georgia-based firm has evolved from a domestic carpet maker to a global leader in the varied flooring sector.

List of the Key Companies in the Vinyl flooring market include

  • Gerflor Group

  • Mannington Mills Inc

  • Tarkett Group

  • Interface Inc

  • Mohawk Industries

  • Armstrong Flooring Inc

  • Shaw Industries Group Inc

  • Toli Floor Corporation

  • Polyflor Limited

  • Congoleum Corporation

Vinyl flooring Industry Developments

March 2021: Armstrong Flooring introduced three LVT collections: Biome, Terra, and Coalesce, all of which include unique diamond ten technology. The thinner profile of these three collections, with a 2.5 mm structure, reduces the number of raw materials and energy consumed during manufacture, resulting in a 31 % reduced carbon footprint.

September 2023: Mannington Mills launches new luxury vinyl plank collection with a focus on sustainability: Mannington Mills, a leading US flooring manufacturer, launched a new luxury vinyl plank (LVP) collection called "Revive". The collection is made with recycled content and is designed to be environmentally friendly.

August 2023: New study finds vinyl flooring is a more sustainable flooring option than hardwood: A new study from the University of California, Berkeley found that vinyl flooring is a more sustainable flooring option than hardwood. The study found that vinyl flooring has a lower environmental impact in terms of greenhouse gas emissions, water use, and deforestation.

Vinyl flooring Market Segmentation

Vinyl flooring Product Outlook

  • Vinyl sheet

  • Luxury Vinyl tiles

  • Printed Vinyl

  • Carpets

  • Other

Vinyl flooring Application Outlook

  • Residential

  • Non-residential

Vinyl flooring Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 36.87 Billion
Market Size 2023 USD 40.80 Billion
Market Size 2030 USD 68.36 Billion
Compound Annual Growth Rate (CAGR) 8.02% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 & 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Gerflor Group, Mannington Mills Inc, Tarkett Group, Interface Inc, Mohawk Industries, Armstrong Flooring Inc, Shaw Industries Group Inc, Toli Floor Corporation, Polyflor Limited, Congoleum Corporation
Key Market Opportunities Increasing consumer attention toward aesthetic value in construction Changing preferences toward environment-friendly products
Key Market Dynamics Increasing purchasing power Cost-effectiveness and environment-friendly nature

Frequently Asked Questions (FAQ) :

The Vinyl Flooring Market size was valued at USD 36.87 Billion in 2022.

The global market is projected to grow at a CAGR of 8.02% during the forecast period, 2023-2030.

Asia Pacific had the largest share of the Vinyl Flooring Market.

The key players in the market are Gerflor Group, Mannington Mills Inc, Tarkett Group, Interface Inc, Mohawk Industries, Armstrong Flooring Inc, Shaw Industries Group Inc, Toli Floor Corporation, Polyflor Limited, and Congoleum Corporation.

Non-residential had the largest share in the global market for Vinyl flooring.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major playersโ€™ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample

Why Choose Market Research Future?

  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst
Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response