Market Highlights:
The Global Vinyl Flooring Market around the world is growing rapidly. Vinyl Flooring are manufactured in many parts of the world and is the most popular product these days. The cost associated with Vinyl Flooring is very less as compared to the flooring work done with some other material. Additionally, easy availability, high flexibility, dirt and water resistant and durability are some of the factors driving the market of Vinyl Flooring. Moreover, this flooring type can be installed directly over the floor without demolition requirement.
Vinyl flooring production is consequently high in Asia-pacific, with China, and India are expected to be the most promising markets. The main driving forces in the Asia-Pacific region includes improved standard of living in developing economies with hygiene requirements and growth in spending capacity are some of the factors which drive the market of Vinyl Flooring. However, amount of time needed to install the flooring and difficulty in removing once installed are some of the restraining factors for the market of Vinyl flooring.
Increasing purchasing power has been driving the demand of residential floorings. Its cost effectiveness and environment friendly nature are some of the factors which attract more and more consumers. The increasing consumer attention towards aesthetic value in construction and changing preferences towards environment friendly products are also responsible for driving this market. Vinyl flooring can be used anywhere and is preferred in nonresidential segment due to easy to fix and easy maintenance.
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Flooring demand depends upon the new construction activities, and economic activities such as spending power and consumer’s preference and among other. Moreover, Carpets and flooring has featured in many government buildings and government facilities across the country. This flooring doesn’t just improve the aesthetic value but is also durable in the long run. However, vinyl flooring cannot take heavy loads and can be damaged by sharp objects. Furthermore, colors can fade with direct sunlight and floors can be damaged by extreme temperature. This acts as a restraint for the vinyl flooring market.
Key Players:
The major player operating in the market of Global Vinyl Flooring are Mohawk Industries Convenience ,Gerflor Group, Armstrong Flooring Inc., Mannington Mills Inc., Shaw Industries Group Inc., Tarkett Group, TOLI Floor Corporation, Interface, Inc., and Polyflor Ltd.
Regional Analysis:
Vinyl Flooring Market is growing rapidly due to the factors such as increased construction and building activities. Currently, APAC is expected to lead the market with its largest market. The reason is attributed to the growth in the construction industry and changing lifestyle and preference of the people. Population growth in this region also offers a huge potential for infrastructure development and new housing demand which leads the market of vinyl flooring.
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