Vinyl-flooring is specific type of resilient flooring, usually used in the construction industry. This type of flooring material is generally made-up from the mixture of limestone-based material and composites of natural & synthetic polymer materials including plasticizers and polyvinyl chloride. This flooring is easy to maintain, provides more moisture resistance, and very durable compared to the other flooring solutions. Vinyl-floor coatings are commonly used to improve the internal appearance, aesthetics and comfort-underfoot in various residential & commercial structures.
Referring to study, Vinyl Flooring Market: Segmented by Product Outlook (Vinyl Sheets, Vinyl Tiles, Luxury Vinyl Tiles); By Application Outlook (Residential, Commercial) and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030. Some of the key companies that are presently operating in the global vinyl flooring market include Beaulieu International Group, Mohawk, Gerflor, Shaw Industries Inc., Tarkett, Mannington Mills Inc., Armstrong World Industries Inc., Forbo and among others. Leading market players are anticipated to introduce novel products with low environmental impact and increased shelf life in order to attract consumer attention. These players majorly compete on the basis of product quality and pricing.
Based on product type, vinyl flooring market can be segregated as vinyl tiles, vinyl sheets and luxury vinyl tiles. In addition, based on application type, market can be categorized as commercial application and residential application. Residential segment is expected that future of the global market will be bright because of increase in renovation & remodeling activities in residential houses and buildings to enhance to living spaces during the forecast period.
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Growth of the commercial real estate sector, followed by increase in number of renovations projects to enhance the aesthetics of the property, growth in usages of the product due to its superior properties and rise in awareness among the people regarding insulation are some major factors, which are responsible for growth of the vinyl flooring market. Apart from this, strict regulations along with intense temperature & direct sunlight can damage the floor & colors, which is a key restraining factor for market. Moreover, increase in levels of disposable income of the people and rise in demand of environmentally friendly products are leading opportunities for global market.
Based on regional analysis, the Asia-Pacific region holds major share in global vinyl flooring market owing to change in lifestyles increase the demand for modified & better residential construction and growth in number of constructions of educational, healthcare, and industrial infrastructures across the region. The North-America and Europe regions are anticipated to witness higher growth rate due to increase in investments in single-family constructions coupled with change in building & construction trends to develop the modern architecture structures over the forecast period. It is projected that future of the global vinyl flooring market will be bright as a result of rise in demand for product in the high-traffic area construction segments for instance offices and commercial spaces during the forecast period.
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