Global Vinyl Flooring Market Size, Share, Trends, Industry Growth by Product Type (Vinyl Sheets, Vinyl Tiles, Luxury Vinyl Tiles), by Application (Residential, Commercial), by Region and Forecast to 2030

Report ID: RC13219 | Report Format: PDF + Excel | Starting Price: 3800/- USD |

Key Findings:

  • The market is estimated to register a significant CAGR of over 7.1% by 2030
  • By product type, the luxury vinyl tiles segment is estimated to register the fastest CAGR over the forecast period to 2030
  • Geographically, the Asia Pacific is accounted to hold the largest market share in the benchmark year 2023

The global vinyl flooring market size is anticipated to register a significant CAGR of over 7.1% during the forecast period from 2024 to 2030. The market is being driven by several key factors, including the material’s durability, affordability, and ease of maintenance, which make it an attractive option for both residential and commercial spaces. Additionally, advancements in vinyl flooring technology, such as improved aesthetics and the development of luxury vinyl tiles (LVT), have enhanced its appeal by offering a wide range of design options that mimic natural materials like wood and stone. The growing focus on sustainable and eco-friendly building materials also contributes to the market’s expansion, as many vinyl flooring products are now manufactured using recycled content and are fully recyclable. Furthermore, the increasing construction activities and renovation projects, particularly in emerging economies, are fueling the demand for vinyl flooring solutions.

Market Snapshot:

Benchmark Year 2023
Market Size lock
Market Growth (CAGR) > 7.1% (2024 – 2030)
Largest Market Share Asia Pacific
Analysis Period 2020-2030
Market Players Mohawk Industries, Shaw Industries, Tarkett S.A., Armstrong Flooring, Inc., and Mannington Mills

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Market Trends:

Technological Advancements: The vinyl flooring industry has seen significant technological progress in recent years. Innovations have led to the development of more durable and water-resistant products that are suitable for a wide range of applications, including high-moisture areas like kitchens and bathrooms. These advancements have also improved the aesthetic qualities of vinyl flooring, allowing it to mimic the look and feel of natural materials such as hardwood, stone, and ceramic tiles with remarkable accuracy. Enhanced surface coatings and wear layers now offer better scratch resistance and longevity, making vinyl flooring an increasingly practical choice for both residential and commercial settings.

Sustainable and Eco-Friendly Options: As environmental concerns become more prominent, there is a growing demand for sustainable building materials. The vinyl flooring market has responded by introducing eco-friendly products made from recycled content and designed to be fully recyclable at the end of their life cycle. Manufacturers are also adopting greener production processes that reduce the environmental impact of vinyl flooring. These sustainable options appeal to environmentally conscious consumers and businesses aiming to reduce their carbon footprint, contributing to the overall growth of the market.

Luxury Vinyl Tiles (LVT): Luxury Vinyl Tiles (LVT) have gained immense popularity due to their superior design capabilities and performance characteristics. LVT offers a high-end appearance that closely resembles natural materials such as wood and stone, providing a luxurious feel at a fraction of the cost. The durability and ease of maintenance of LVT make it an ideal choice for high-traffic areas in both residential and commercial properties. This segment of the vinyl flooring market is experiencing rapid growth as consumers seek stylish yet practical flooring solutions that offer long-lasting performance.

DIY Installation: The trend towards do-it-yourself (DIY) home improvement projects has significantly boosted the vinyl flooring market. Vinyl flooring products, especially those with peel-and-stick or click-lock installation mechanisms, are designed to be user-friendly, allowing homeowners to install them without professional assistance. This ease of installation not only saves on labor costs but also makes vinyl flooring an attractive option for those looking to quickly and affordably update their interiors. The DIY trend has expanded the market by appealing to a broader audience, including budget-conscious consumers and those with a penchant for home improvement.

Commercial Sector Growth: The commercial sector, including industries such as healthcare, education, retail, and hospitality, is increasingly adopting vinyl flooring solutions. This growth is driven by the need for cost-effective, durable, and low-maintenance flooring that can withstand heavy foot traffic and frequent cleaning. Vinyl flooring meets these requirements while offering a wide range of design options to match the aesthetic preferences of various commercial environments. The ease of maintenance and replacement of vinyl flooring further enhances its appeal, leading to its widespread adoption in commercial applications.

Market Opportunities:

The vinyl flooring market presents numerous opportunities driven by evolving consumer preferences and technological advancements. As demand for eco-friendly and sustainable building materials grows, manufacturers have the chance to expand their product lines with recycled and recyclable vinyl options, appealing to environmentally conscious consumers. The increasing popularity of luxury vinyl tiles (LVT) opens up opportunities for innovation in design and performance, catering to both residential and commercial sectors seeking high-end, durable flooring solutions. Additionally, the DIY home improvement trend offers a market expansion avenue for easy-to-install vinyl products. The burgeoning construction activities in emerging economies further provide a significant growth opportunity, as urbanization and infrastructure development boost the demand for cost-effective, resilient flooring options.

Market Challenges:

The vinyl flooring market faces several challenges that could impact its growth trajectory. Environmental concerns related to the production and disposal of vinyl flooring, particularly issues with PVC and plasticizers, pose significant challenges as consumers and regulators push for greener alternatives. Competition from other flooring materials, such as laminate, hardwood, and ceramic tiles, which are also improving in terms of durability and design, can limit market expansion. Additionally, fluctuations in raw material prices and supply chain disruptions can affect production costs and pricing strategies. The need for constant innovation to meet diverse consumer preferences and maintain product differentiation adds to the industry’s challenges.

Market Segment Insights:

The global vinyl flooring market is bifurcated into product type, application, and geography. On the basis of product, the market is further segmented into vinyl sheets, vinyl tiles, and luxury vinyl tiles. The luxury vinyl tiles segment dominated the market in the benchmark year 2023 and anticipated to register the fastest CAGR over the forecast period. The dominance is attributes to their exceptional aesthetic appeal and performance characteristics. LVT is engineered to closely replicate the look and feel of natural materials such as hardwood, stone, and ceramic tiles, offering a high-end appearance at a fraction of the cost. This realism, combined with a wide range of design options, makes LVT a preferred choice for both residential and commercial applications. The tiles’ advanced construction includes multiple layers that enhance durability and comfort, such as wear layers that provide resistance to scratches, dents, and stains, ensuring a long-lasting and visually appealing floor. Additionally, the ease of installation with click-lock and adhesive-backed options makes LVT accessible for DIY projects, further increasing its popularity among consumers.

Moreover, the ongoing technological advancements in LVT manufacturing contribute to its dominant position in the market. Innovations have led to the development of more sustainable and eco-friendly products, addressing the growing consumer demand for environmentally responsible options. The integration of sound insulation and improved comfort features enhances the overall user experience, making LVT suitable for a variety of settings, including high-traffic commercial areas and residential spaces. Its water-resistant properties and ease of maintenance add to its practicality, catering to busy households and businesses alike. As consumers increasingly seek flooring solutions that combine aesthetics, durability, and ease of use, LVT continues to capture a significant market share, solidifying its status as the leading segment in the vinyl flooring industry.

The vinyl flooring market research report presents the analysis of each segment from 2020 to 2030 considering 2023 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2024 to 2030.

Historical & Forecast Period

  • 2020-22 – Historical Year
  • 2023 – Base Year
  • 2024-2030 – Forecast Period

Market Segmentation:

By Product Type:

  • Vinyl Sheets
  • Vinyl Tiles
  • Luxury Vinyl Tiles

By Application:

  • Residential
  • Commercial

B Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis:

Geographically, the Asia Pacific dominated the market global vinyl flooring market in the benchmark year 2023 and expected to grow at the same trends over the forecast period. Asia Pacific has solidified its position as the dominant region in the vinyl flooring market due to a confluence of factors. First and foremost, the region’s rapid urbanization and extensive construction activities, particularly in countries like China and India, fuel substantial demand for flooring solutions. Vinyl flooring, known for its affordability, durability, and versatility, has become a preferred choice amidst this growth, catering to both residential and commercial sectors. Furthermore, the expanding middle-class population across Asia Pacific, accompanied by rising disposable incomes, propels increased spending on home improvement projects, where vinyl flooring stands out as an attractive option for its combination of quality and cost-effectiveness.

Moreover, Asia Pacific serves as a manufacturing powerhouse for vinyl flooring products, leveraging lower production costs and abundant raw materials. This manufacturing advantage not only facilitates competitive pricing but also ensures a diverse range of products to meet varying consumer demands. Government initiatives aimed at infrastructure development and sustainable building practices further drive the adoption of vinyl flooring, supported by growing awareness among consumers regarding its benefits. As a result, Asia Pacific’s dominance in the vinyl flooring market is underpinned by its robust economic growth, urbanization trends, manufacturing prowess, and evolving consumer preferences, solidifying its leading position in the global landscape.

Competitive Landscape:

Some of the prominent market players operating in the global vinyl flooring market are Mohawk Industries, Shaw Industries, Tarkett S.A., Armstrong Flooring, Inc., and Mannington Mills. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Recent Developments:

  • In February 2022, Armstrong World Industries successfully concluded its acquisition of Mannington Mills’ residential flooring division.
  • In November 2021, Tarkett Group finalized the acquisition of Vinylasa, a Mexico-based company specializing in the production of luxury vinyl tiles. Additionally, they shifted their manufacturing operations from Canada to the United States.
  • In May 2021, Armstrong Flooring introduced three LVT collections called Biome, Terra, and Coalesce, specifically designed for commercial use. These collections feature patented diamond ten technology, offering enhanced durability. Notably, they boast a thinner profile, measuring 2.5 mm, which not only reduces the consumption of raw materials and energy during manufacturing but also leads to a 31% decrease in carbon footprint. Furthermore, these environmentally conscious products contain approximately 29% recycled content.

Key Companies:

  • Mohawk Industries
  • Shaw Industries
  • Tarkett S.A.
  • Armstrong Flooring, Inc.
  • Mannington Mills
  • Interface, Inc.
  • Forbo Flooring Systems
  • Gerflor Group
  • Congoleum Corporation
  • Polyflor Ltd.

Key Questions Answered by Vinyl Flooring Market Report

  • Global vinyl flooring market forecasts from 2024-2030
  • Regional market forecasts from 2024-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2024-2030 covering 15 major countries from the regions as mentioned above
  • Vinyl flooring submarket forecasts from 2024-2030 covering the market by product type, application, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level vinyl flooring markets from 2024-2030
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Contents:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Vinyl Flooring Market Portraiture
2.2. Global Vinyl Flooring Market, by Product Type, 2023 (USD Mn)
2.3. Global Vinyl Flooring Market, by Application, 2023 (USD Mn)
2.4. Global Vinyl Flooring Market, by Geography, 2023 (USD Mn)

 

3. Global Vinyl Flooring Market Analysis


3.1. Vinyl Flooring Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. PESTLE Analysis

 

4. Global Vinyl Flooring Market by Product Type, 2020 – 2030 (USD Mn)


4.1. Overview
4.2. Vinyl Sheets
4.3. Vinyl Tiles
4.4. Luxury Vinyl Tiles

 

5. Global Vinyl Flooring Market by Application, 2020 – 2030 (USD Mn)


5.1. Overview
5.2. Residential
5.3. Commercial

 

6. North America Vinyl Flooring Market Analysis and Forecast, 2020 – 2030 (USD Mn)


6.1. Overview
6.2. North America Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
6.3. North America Vinyl Flooring Market by Application, (2020-2030 USD Mn)
6.4. North America Vinyl Flooring Market by Country, (2020-2030 USD Mn)
6.4.1. U.S.
6.4.1.1. U.S. Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
6.4.1.2. U.S. Vinyl Flooring Market by Application, (2020-2030 USD Mn)
6.4.2. Canada
6.4.2.1. Canada Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
6.4.2.2. Canada Vinyl Flooring Market by Application, (2020-2030 USD Mn)
6.4.3. Mexico
6.4.3.1. Mexico Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
6.4.3.2. Mexico Vinyl Flooring Market by Application, (2020-2030 USD Mn)

 

7. Europe Vinyl Flooring Market Analysis and Forecast, 2020 - 2030 (USD Mn)


7.1. Overview
7.2. Europe Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.3. Europe Vinyl Flooring Market by Application, (2020-2030 USD Mn)
7.4. Europe Vinyl Flooring Market by Country, (2020-2030 USD Mn)
7.4.1. Germany
7.4.1.1. Germany Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.4.1.2. Germany Vinyl Flooring Market by Application, (2020-2030 USD Mn)
7.4.2. U.K.
7.4.2.1. U.K. Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.4.2.2. U.K. Vinyl Flooring Market by Application, (2020-2030 USD Mn)
7.4.3. France
7.4.3.1. France Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.4.3.2. France Vinyl Flooring Market by Application, (2020-2030 USD Mn)
7.4.4. Spain
7.4.4.1. Spain Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.4.4.2. Spain Vinyl Flooring Market by Application, (2020-2030 USD Mn)
7.4.5. Italy
7.4.5.1. Italy Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.4.5.2. Italy Vinyl Flooring Market by Application, (2020-2030 USD Mn)
7.4.6. Rest of Europe
7.4.6.1. Rest of Europe Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
7.4.6.2. Rest of Europe Vinyl Flooring Market by Application, (2020-2030 USD Mn)

 

8. Asia Pacific Vinyl Flooring Market Analysis and Forecast, 2020 - 2030 (USD Mn)


8.1. Overview
8.2. Asia Pacific Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
8.3. Asia Pacific Vinyl Flooring Market by Application, (2020-2030 USD Mn)
8.4. Asia Pacific Vinyl Flooring Market by Country, (2020-2030 USD Mn)
8.4.1. China
8.4.1.1. China Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
8.4.1.2. China Vinyl Flooring Market by Application, (2020-2030 USD Mn)
8.4.2. Japan
8.4.2.1. Japan Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
8.4.2.2. Japan Vinyl Flooring Market by Application, (2020-2030 USD Mn)
8.4.3. India
8.4.3.1. India Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
8.4.3.2. India Vinyl Flooring Market by Application, (2020-2030 USD Mn)
8.4.4. South Korea
8.4.4.1. South Korea Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
8.4.4.2. South Korea Vinyl Flooring Market by Application, (2020-2030 USD Mn)
8.4.5. Rest of Asia Pacific
8.4.5.1. Rest of Asia Pacific Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
8.4.5.2. Rest of Asia Pacific Vinyl Flooring Market by Application, (2020-2030 USD Mn)

 

9. Latin America (LATAM) Vinyl Flooring Market Analysis and Forecast, 2020 - 2030 (USD Mn)


9.1. Overview
9.2. Latin America Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
9.3. Latin America Vinyl Flooring Market by Application, (2020-2030 USD Mn)
9.4. Latin America Vinyl Flooring Market by Country, (2020-2030 USD Mn)
9.4.1. Brazil
9.4.1.1. Brazil Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
9.4.1.2. Brazil Vinyl Flooring Market by Application, (2020-2030 USD Mn)
9.4.2. Argentina
9.4.2.1. Argentina Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
9.4.2.2. Argentina Vinyl Flooring Market by Application, (2020-2030 USD Mn)
9.4.3. Rest of Latin America
9.4.3.1. Rest of Latin America Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
9.4.3.2. Rest of Latin America Vinyl Flooring Market by Application, (2020-2030 USD Mn)

 

10. Middle East and Africa Vinyl Flooring Market Analysis and Forecast, 2020 - 2030 (USD Mn)


10.1. Overview
10.2. MEA Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
10.3. MEA Vinyl Flooring Market by Application, (2020-2030 USD Mn)
10.4. Middle East and Africa Vinyl Flooring Market, by Country, (2020-2030 USD Mn)
10.4.1. GCC
10.4.1.1. GCC Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
10.4.1.2. GCC Vinyl Flooring Market by Application, (2020-2030 USD Mn)
10.4.2. South Africa
10.4.2.1. South Africa Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
10.4.2.2. South Africa Vinyl Flooring Market by Application, (2020-2030 USD Mn)
10.4.3. Rest of MEA
10.4.3.1. Rest of MEA Vinyl Flooring Market by Product Type, (2020-2030 USD Mn)
10.4.3.2. Rest of MEA Vinyl Flooring Market by Application, (2020-2030 USD Mn)

 

11. Competitive Landscape


11.1. Company Market Share Analysis, 2023
11.2. Competitive Dashboard
11.3. Competitive Benchmarking
11.4. Geographic Presence Heatmap Analysis
11.5. Company Evolution Matrix
11.5.1. Star
11.5.2. Pervasive
11.5.3. Emerging Leader
11.5.4. Participant
11.6. Strategic Analysis Heatmap Analysis
11.7. Key Developments and Growth Strategies
11.7.1. Mergers and Acquisitions
11.7.2. New Product Launch
11.7.3. Joint Ventures
11.7.4. Others

 

12. Company Profiles


12.1. Mohawk Industries
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. Shaw Industries
12.3. Tarkett S.A.
12.4. Armstrong Flooring, Inc.
12.5. Mannington Mills
12.6. Interface, Inc.
12.7. Forbo Flooring Systems
12.8. Gerflor Group
12.9. Congoleum Corporation
12.10. Polyflor Ltd.
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