Stone Plastic Composite Flooring Market by Type (DIY Installation, Professional Installation), Product (Embossed In Register Surface SPC Floor, Regular Double Layers SPC Floor, Regular Single Layer SPC Floor), Application - Global Forecast 2024-2030
Description
Stone Plastic Composite Flooring Market by Type (DIY Installation, Professional Installation), Product (Embossed In Register Surface SPC Floor, Regular Double Layers SPC Floor, Regular Single Layer SPC Floor), Application - Global Forecast 2024-2030
The Stone Plastic Composite Flooring Market size was estimated at USD 31.36 billion in 2023 and expected to reach USD 35.34 billion in 2024, at a CAGR 13.51% to reach USD 76.19 billion by 2030.
Stone plastic composite flooring represents a category of engineered luxury vinyl flooring that has gained significant popularity in the interior design and construction industries. SPC flooring is distinguished by its unique composition, as it combines limestone and stabilizers to create a highly durable core. SPC flooring is developed to mimic the appearance of natural stone, wood, and other textures, and it offers an attractive yet practical flooring solution suitable for a wide range of environments. The growing construction industry across the world, along with the shift towards more durable and sustainable building materials, especially in emerging economies, is driving the adoption of SPC flooring. However, high upfront costs compared to traditional flooring options limit the market growth. Furthermore, technological advancements in flooring solutions that offer better designs and functionality, such as easy-install features, create lucrative opportunities for market growth.
Regional Insights
The Americas, primarily led by the United States and Canada, show a robust demand for stone plastic composite flooring, attributed to the rising renovation activities and the shift towards more sustainable and durable flooring options. Consumers in these regions prioritize eco-friendly materials and are keen to invest in higher-quality products that offer longer lifespans. The American region market has seen a significant uptick in the adoption of SPC flooring in both residential and commercial sectors, driven by its water-resistant properties and ease of installation. The EMEA region demonstrates a diverse range of consumer needs and purchasing behaviors. EU countries have been early adopters of SPC flooring, with a focus on sustainable living and high-quality materials. There is an ongoing increase in R&D investments, aiming to enhance the eco-friendliness and recyclability of SPC products. The Middle East market prioritizes luxury and durability, leading to a surge in high-end SPC flooring projects, especially in the commercial and hospitality sectors. The Asia Pacific region, led by China, Japan, and India, is the largest and fastest-growing market for SPC flooring. China is a prominent producer and a significant consumer, with its market propelled by booming real estate and a strong preference for premium housing materials. Japan focuses on innovative and eco-friendly SPC products, emphasizing the need for earthquake-resistant and easy-to-install flooring solutions. India is witnessing a rapid rise in demand, with increased infrastructure development and a growing emphasis on sustainable construction materials.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Stone Plastic Composite Flooring Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Rising Preferences of Consumers Toward Luxury Flooring
- Growing Usage of Product for Residential and Commercial Purposes
- Demand for SPC flooring as an Eco-Friendly Building Materials
- Market Restraints
- High Price of Luxury Stone Plastic Composite Flooring and its Raw Material
- Market Opportunities
- Expanding Use for Contemporary and Aesthetically Appealing Interiors
- Increasing Trend of DIY Installations
- Market Challenges
- Low Awareness, Hard Construction, and High Decibel Rating
- Market Segmentation Analysis
- Product: Embossed in register surface SPC flooring preferred for its aesthetic appeal and functional benefits
- Application: Expanding commercial infrastructure driving the significance of stone plastic composite flooring
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Stone Plastic Composite Flooring Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Stone Plastic Composite Flooring Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Bjelin Collaborates with Revolution Mills to Sell Rigid Core Products in the U.S.
Bjelin, in collaboration with Revolution Mills, is expanding its presence in the United States by introducing its innovative rigid core product line, designated as a key offering through its national distribution partner, Revolution Mills. This sustainable, waterproof flooring solution, known for its Scandinavian-designed aesthetics and advanced technology, features the revolutionary Liteback technology by Välinge Innovation, reducing the product’s weight by up to 20% and significantly enhancing its sound-absorbent properties.
Invest in longer-lasting flooring solutions with this Coastal SPC flooring collection
Responsive Industries unveiled its innovative Coastal hard-engineered planks, the latest advancement in the flooring industry. These planks, available in 11 vibrant hues, are designed to fulfill the dynamic needs of various settings, including offices, homes, retail spaces, and the hospitality industry. Crafted from Stone Plastic Composite (SPC), a cutting-edge component in the Luxury Vinyl flooring category, Coastal planks stand out for their durability, ease of maintenance, and anti-slip properties, making them a smart choice for areas with heavy foot traffic.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Stone Plastic Composite Flooring Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Stone Plastic Composite Flooring Market, highlighting leading vendors and their innovative profiles. These include AHF, LLC by Armstrong World Industries, Inc., AJ FLOOR by Changzhou Aojia Decorate Material CO.,LTD, Anji Tianzhen Bamboo Flooring Co. Ltd., Bjelin Group, CFL Holding Limited, Changzhou Aipu Decorative Materials Co., Ltd., Changzhou Lingdian Wood Co., Ltd., Decno Group Ltd., Floormonk, Inovar Industries Sdn. Bhd., Jiangsu Kentier Wood Co., Ltd., Kingdomflooring, Licheer, Mannington Mills, Inc., Mohawk Industries, Inc., Muchsee Wood (Chuzhou) Co., Ltd., Power Dekor Group Co., Ltd., Protex Flooring Co.,Ltd., Responsive Industries Limited, Shandong Wanli Decoration Materials Co., Ltd., Shandong Xulong New Materials Co., Ltd., Shanghai 3C Industry Co., Ltd., Simple Flooring Company, Stories Flooring, Welspun Flooring Limited, Xinghua Zhengfu Plastic Industries Co. Ltd., Zhejiang GIMIG Technology Co., Ltd., and Zhejiang Oufei New Material Co.,ltd..
Market Segmentation & Coverage
This research report categorizes the Stone Plastic Composite Flooring Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- DIY Installation
- Professional Installation
- Product
- Embossed In Register Surface SPC Floor
- Regular Double Layers SPC Floor
- Regular Single Layer SPC Floor
- Super Hard Surface SPC Floor
- Application
- Commercial
- Residential
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
183 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rising Preferences of Consumers Toward Luxury Flooring
- 5.1.1.2. Growing Usage of Product for Residential and Commercial Purposes
- 5.1.1.3. Demand for SPC flooring as an Eco-Friendly Building Materials
- 5.1.2. Restraints
- 5.1.2.1. High Price of Luxury Stone Plastic Composite Flooring and its Raw Material
- 5.1.3. Opportunities
- 5.1.3.1. Expanding Use for Contemporary and Aesthetically Appealing Interiors
- 5.1.3.2. Increasing Trend of DIY Installations
- 5.1.4. Challenges
- 5.1.4.1. Low Awareness, Hard Construction, and High Decibel Rating
- 5.2. Market Segmentation Analysis
- 5.2.1. Product: Embossed in register surface SPC flooring preferred for its aesthetic appeal and functional benefits
- 5.2.2. Application: Expanding commercial infrastructure driving the significance of stone plastic composite flooring
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 6. Stone Plastic Composite Flooring Market, by Type
- 6.1. Introduction
- 6.2. DIY Installation
- 6.3. Professional Installation
- 7. Stone Plastic Composite Flooring Market, by Product
- 7.1. Introduction
- 7.2. Embossed In Register Surface SPC Floor
- 7.3. Regular Double Layers SPC Floor
- 7.4. Regular Single Layer SPC Floor
- 7.5. Super Hard Surface SPC Floor
- 8. Stone Plastic Composite Flooring Market, by Application
- 8.1. Introduction
- 8.2. Commercial
- 8.3. Residential
- 9. Americas Stone Plastic Composite Flooring Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Stone Plastic Composite Flooring Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Stone Plastic Composite Flooring Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. Market Share Analysis, 2023
- 12.2. FPNV Positioning Matrix, 2023
- 12.3. Competitive Scenario Analysis
- 12.3.1. Bjelin Collaborates with Revolution Mills to Sell Rigid Core Products in the U.S.
- 12.3.2. Invest in longer-lasting flooring solutions with this Coastal SPC flooring collection
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.2. Key Product Portfolio
Pricing
Currency Rates
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