According to
a new market report published by Lucintel, the future of the global vinyl
flooring market looks promising with
opportunities in residential and non-residential applications. The global vinyl
flooring market is expected to reach an estimated $17.5 billion by 2024 with a CAGR
of 4.5% from 2019 to 2024. The major drivers for this market are growth in
residential construction and renovation activities.
In this market, vinyl sheet, luxury vinyl tile, and vinyl
composite tile are used in residential and non-residential floorings. On the basis of comprehensive research, Lucintel
forecasts that the vinyl sheet will remain the largest segment over the
forecast period due to their superior properties such as water-resistance, slip
resistance, and ease of maintenance.
Within this market, vinyl flooring for non-residential will remain the largest segment during the forecast
period due to the increase in demand for luxury vinyl tiles in non-residential
buildings, such as offices, hotels, educational institutions, and hospitals.
APAC will remain the largest region due to the growth in the
construction industry and changing lifestyle. North America is expected to witness the highest growth over the
forecast period due to rising investments in single-family constructions in
this region.
Emerging trends in the global vinyl flooring
market, which have a direct impact on the dynamics of the industry, include growing
adoption of loose lay flooring - an innovative form of luxury vinyl tile and
increasing demand for phthalate-free vinyl flooring. Shaw Industries, Tarkett, Mohawk Industries, Gerflor, and
Mannington Mills are among the major suppliers of vinyl flooring.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed
growth opportunities in the global vinyl flooring market by product, end use, and
region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Vinyl Flooring
Market 2019-2024”. The Lucintel
report serves as a catalyst for growth strategy by providing comprehensive data
and analysis on trends, key drivers, and directions. The study includes a
forecast for the global vinyl flooring market by product, end use, and region, as follows:
- Vinyl Sheet
- Luxury Vinyl Tile (LVT)
- Vinyl Composite Tile (VCT)
By End Use [Value ($M) and Volume (M Sqm) from
2013 to 2024]:
· Residential
· Non-Residential
o
Healthcare
o
Education
o
Hospitality
o
Retail
o
Office
o
Others
By Region [Value ($M) and Volume (M Sqm) from 2013 to
2024]:
·
North America
o
US
o
Mexico
o
Canada
·
Europe
o
United Kingdom
o
Germany
o
France
o
Italy
·
APAC
o
China
o
Japan
o
India
·
ROW
This
205-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. We offer market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report addresses the following key
questions:
Q. 1.
What are some of the most promising, high growth opportunities for the global vinyl
flooring market by product (vinyl sheet, luxury vinyl tile, and vinyl composite
tile), end use (residential and non-residential), and region (North America,
Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a
faster pace and why?
Q. 3. Which region will grow at a faster pace
and why?
Q.4. What are the key factors affecting
market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this
market and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the
market and which companies are leading these developments?
Q.9. Who are the major players in this
market? What strategic initiatives are being initiated by key companies for
business growth?
Q.10. What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
product substitution?
Q. 11. What M&A activity has occurred in
the last 5 years?
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