Vinyl flooring companies lead in providing versatile and resilient flooring solutions. Specializing in the manufacture of vinyl tiles and planks, these companies offer a wide range of designs, textures, and colors. Known for durability, easy maintenance, and cost-effectiveness, they contribute to stylish and functional flooring options for both residential and commercial spaces.
Vinyl flooring, once relegated to dingy kitchens and school corridors, has undergone a vibrant metamorphosis. This versatile and resilient material, But beneath its sleek surface lies a competitive jungle where established giants like Tarkett and Mannington Mills clash with agile newcomers, all vying for a square foot of market share. Let's delve into the strategies, trends, and recent developments shaping this dynamic landscape.
Strategies Flooring the Competition:
Factors Shaping Market Share:
Key Players:
Recent Developments:
August:Â Mannington Mills unveils a novel waterproof vinyl flooring collection that can withstand spills and moisture, ideal for kitchens, bathrooms, and high-traffic areas.
September:Â The European Union proposes stricter regulations on indoor air quality, prompting vinyl flooring manufacturers to invest in low-VOC and emission-free formulations.
October:Â China announces a major residential construction project, boosting demand for affordable and easy-to-install vinyl flooring solutions.
November:Â A consortium of flooring manufacturers and environmental organizations launches a research initiative to develop standardized life cycle assessment protocols for vinyl flooring, promoting transparency and responsible sourcing throughout the supply chain.
December:Â A promising startup develops a bio-based flooring adhesive derived from plant oils, significantly reducing the environmental impact of vinyl flooring installation and maintenance.
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.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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.
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.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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
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.
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.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
Vinyl Flooring Market Highlights:
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