According to MarketIntelReports’ “Global Vinyl Flooring Market Research Report 2016”:
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Vinyl plank flooring is the most popular product used in construction activities. It is easy to maintain and is wear resistant. The vinyl hardwood flooring is also available in many colours and designs which make it attractive. Growing preferences towards environmental friendly products drive the demand for the Vinyl Flooring Market. This resilient flooring is used in kitchens, bathrooms, laundry rooms. It is quite cost effective compared to the natural floors like wood, concrete, and marble. Technological advancement plays an important role in the competition of the market. The non residential areas too make use of vinyl flooring since it has a good strength.
Scope & Regional Forecast of the Vinyl Flooring Market
The increasing demand for residential floorings and increase in the purchasing power enhance the growth of the Vinyl Flooring Market. The main reason for the competition of the competition of the vinyl linoleum flooring is due to its resilient nature. But the main factor which restrains the market is that high skilled professionals are need to install it. If it is not installed properly, problems like irregular surface, cracking, and wrong patching emerge.
Asia Pacific is expected to have the highest growth in the market. The rise in infrastructural projects and growth in automobile industry contribute to the demand for wood style vinyl flooring in the region. The increased consumption of vinyl flooring brands is also responsible for the growth of the market.
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The Luxury Vinyl Tile segment has the largest share of wood look vinyl planks. This is because of the user friendly nature and its easy installation. LVT has more Vinyl and this creates a flooring system is excellent. Residential housing segment will have the highest growth. Growth in different industries has also pushed the growth of vinyl flooring. More companies need this product in building retail centres.
Segmentations & Key Players Involved in the Vinyl Flooring Market
The Vinyl Flooring Market can be broken down into various segments as follows:
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Region- North America, Europe and Asia.
Some of the key players involved in the Vinyl Flooring Market are as follows:
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Mohawk
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Armstrong
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Mannington Mills Inc
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Shaw Flor
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