The global vinyl flooring market is experiencing considerable growth, and is expected to grown significantly in the next few years. Floors are basically a concrete slab, as the finish of concrete slab is rough and not aesthetical, there is a need for an aesthetical flooring solution. Tiles and vinyl are two most commonly used flooring solutions. Floor vinyl are aesthetical, easy to install and more durable than tiles, which are major drivers in the growth of the vinyl flooring market. Vinyl flooring solutions are either thin tiles or long rolls of flexible sheets, which are available in a range of different colors, textures, and thickness, which further increases the usability of vinyl flooring in construction. Vinyl flooring is more economical and rugged than other flooring solutions, which ensures substantial demand for vinyl flooring in construction industry throughout the forecast period. The key players in the industry are determined to make more durable products and increase the variety of colors and patterns to maintain their footprint in this highly competitive market.
Description
Vinyl floorings majorly consist of tiles or sheets which are applied on a subfloor with the help of an adhesive solution. Vinyl floorings are made from synthetic polymers which can easily be cut as per requirement and can even be applied in small and complex spaces. The application of vinyl flooring requires less time, labor, and materials, which further increase its desirability for potential customers. Vinyl floorings are also more durable than conventional tiles as they are resistant to cracking and breaking.
COVID-19 Impact analysis
COVID-19 pandemic has shut-down the production of vinyl floorings attributed to the lockdown in countries worldwide. This has hampered the growth of industry from the last few months and is likely to continue during 2021.
- COVID-19 had affected the sales of vinyl flooring in the second quarter of 2020 as the demand witnessed a steep decrease due to restrictions in construction activities. Major players in the real estate industry decreased the construction of residential and commercial buildings in the wake of reducing demand because of COVID-19.
- The major demand for vinyl floorings was previously noticed from U.S., China, U.K., Germany, France, India and GCC countries which are negatively affected by the spread of the COVID-19, thereby decreasing the demand.
- The decrease in income due to COVID-19, directly affected the spending of masses thus, negatively affecting the vinyl flooring market.
- COVID-19 pandemic also negatively affected the vinyl flooring manufacturing units due to the restrictions laid on factory operations. Manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
- The increase in vaccination drives and leniency in the COVID-19 restrictions has revived construction and maintenance activities in residential and commercial buildings. Which is a positive sign for the recovery of vinyl flooring market.
Top Impacting Factors
Floors are a vital part of any building as they provide an aesthetical, smooth and a level floor surface, without which a building is not fit for occupation. The rising population and rapid urbanization have exponentially increased the demand for residential and commercial buildings, which is a key driver for the growing demand of vinyl flooring in construction industry. The installation of vinyl flooring sheets is easier and requires less time which make it suitable for redecoration and retrofit activities. Vinyl floorings are significantly economical than other flooring solutions which is a major driver for its growth in developing countries. Luxury vinyl tiles are panels of smaller size that offer wide range designs, superior aesthetics and elevate the appearance of a room, making it ideal for luxury projects. As, vinyl flooring solutions are thin and flexible, they provide resistance to cracking and breaking even under impact of heavy loads, which make it a suitable for use in industrial buildings as well as sports complexes such as gyms. The increasing costs of raw materials and the uncertainties in the real estate market are the restraints to the growth of vinyl flooring market. The increasing popularity of interior designing and availability of various designs will continue to positively influence the growth of the vinyl flooring in construction market throughout the forecast period.
Market Trends
- The key players in the industry have adopted to use eco-friendly materials and reduce carbon to promote sustainable development. For instance, Tarkett’s eco-design methodology follows the internationally recognized Cradle to Cradle approach, in which materials evaluation is undertaken by a third-party such as EPEA (Environmental Protection Encouragement Agency). Tarkett is continuously working to optimize existing materials by replacing them for even better alternative.
- The key players in the industry are also working towards integration of VR technology to improve the purchasing experience of the customers. For instance, Shaw Industries Group inc. has introduced a virtual reality feature on its website which helps the customers visual their rooms and select from a wide range of colors and designs, without the need to physical visit to the store.
- Pergo Extreme, by Mohawk Industries inc. is a type of Luxury vinyl tile, fabricated with a solid stone-plastic composite and layered with an enhanced lacquer finish. It is dent proof, pet proof and waterproof.
- Karndean, a United Kingdom based company provides a detailed installation guide with its products, to make self-installation easy and decrease labor costs.
Key Benefits of the Report
- This study presents the analytical depiction of the vinyl flooring in construction industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the vinyl flooring in construction market share.
- The current market is quantitatively analyzed to highlight the vinyl flooring in construction market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed vinyl flooring in construction market analysis based on competitive intensity and how the competition will take shape in coming years.
Vinyl Flooring in Construction Market Report Highlights
| Aspects | Details |
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 Key Market Players | Congoleum Corporation, Mannington Mills, Inc, Lumber Liquidators Inc., Mohawk Industries inc., Forbo group, Tarkett, AWI Licensing LLC, CBC Flooring, Parterre Flooring Systems Corporation, Karndean |
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