Opportunities for Vinyl Flooring in the Global Building Construction Market 2015-2020: Trends, Forecast, and Opportunity Analysis
According to a new market report published by Lucintel, the future of the global vinyl flooringmarket looks good with opportunities in the residential and commercial building constructionmarkets. The global vinyl flooring market is forecast to grow at a CAGR of 3.3% from 2015 to2020. The major drivers for this market are the growth of the global construction industry andrenovation activities. Vinyl floor are durable, easy to maintain and more moisture-resistant thanmany alternative materials.
In this market, vinyl sheet, luxury vinyl tiles, and vinyl composition tiles are some of the majorproduct forms used for residential and commercial construction applications. Vinyl sheet is thelargest segment by product forms and is expected to remain the same during the forecast period.Lucintel predicts that the demand for luxury vinyl tiles is likely to experience the highest growthduring the forecast period supported by their aesthetic feature, durability, minimal maintenancerequirements, and ease in installation properties. On the basis of comprehensive research,
Lucintel forecasts that the residential segment is expected to show above average growth duringthe forecast period.
Within the vinyl flooring in construction industry, the commercial segment is expected to remainthe largest market. Increasing demand for vinyl flooring in hospitals, offices, hotels, andeducational institutes is expected to spur growth for this segment over the forecast period.APAC is expected to remain the largest market due to the growth in the construction industry andchanging lifestyle.
North America is expected to witness the highest growth over the forecast period because ofgrowing residential and commercial construction activities.
For market expansion, the report suggests innovation and new product development where theunique characteristics of vinyl flooring can be capitalized. Some of the innovation areas in vinylflooring could be in achieving higher strength, better aesthetics, and technological features.Emerging trends in the global vinyl flooring market, which have a direct impact on the dynamics ofthe industry, include increasing demand for tiles with eco-friendly and easy to install properties.Tarkett, Shaw Industries, Inc., Mohawk Industries, Inc., Mannington Mills, Inc., and ArmstrongWorld Industries, Inc. are among the major suppliers of vinyl flooring. Some companies are optingfor M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the globalvinyl flooring market by end use industry, product type, and region and has come up with acomprehensive research report, “Opportunities for Vinyl Flooring in the Global ConstructionIndustry 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report servesas a springboard for growth strategies, as it provides a comprehensive data and analysis ontrends, key drivers, and directions. The study includes forecasts for the global vinyl flooringmarket through 2020, segmented by end use industry, product type, and region as follows:
By end use industry [$ million market size analysis from 2009 to 2020]: