Astute Analytica published a new report on the global Vinyl flooring market. The global market report has extensive information about the market size, drivers, threats, opportunities, and growth factors. In addition, the research report contains COVID-19 impact, regional insight, competitors analysis, and segmentation.
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Vinyl flooring market was valued at US$ 26.80 billion in 2024 and is projected to hit the market valuation of US$ 44.86 billion by 2033 at a CAGR of 5.89% during the forecast period 2025–2033.
According to a 2019 estimate from the International Council of Chemical Associations, the Vinyl flooring market is one of the largest in the world, contributing US$ 5.7 trillion to global GDP and supporting nearly 120 million employments. In order to reduce the negative environmental impact of chemical manufacture, chemical industries are progressively embracing sustainable and eco-friendly procedures. Chemical companies are using an eco-friendly alternative such as using carbon dioxide from the atmosphere to make fuels, industrial products, and other chemicals. Technological advancements and the development of chemical sciences are playing a major role in this transition in the industry.
Impact Analysis of COVID-19
Almost every product people use has Vinyl flooring market. Chemical businesses are functioning in a radically different paradigm as the effects of COVID-19 ripple over the globe and economic activity grinds to a standstill. There is a chasm in the demand for chemicals across end markets. The global supply networks disrupted, chemical companies' stock prices have taken major hits, and chemical manufacturer competitive orders have switched swiftly in the United States, the Middle East, China, and Europe.
Regional Insights
As economies reopen and countries are lifting limitations, the US chemical industry is forecast for a significant recovery in 2022, which could boost plant utilization rates that were affected hard by the pandemic. In the United States, industrial production is forecast to increase by 5.5 percent in 2021 and 4.3 percent in 2022. Chemical volumes in the United States are forecast to rise 1.5 % in 2021 and 3.0% in 2022, while shipments to rise 8.0 % in 2021 and 2022, following a 13.5% drop in 2020.
The Asia Pacific region size value was 36.0% market share, maintaining the largest market share across all regions. As a result of the existence of critical developing economies such as China, India, and Japan in this region, recording the largest market share in the market. Paints and coatings, water treatment, personal care ingredients and cosmetics, electronics, agriculture, and other sectors employ chemicals throughout the Asia-Pacific area. For foreign investors, these places provide excellent investment options. China was the largest specialty Vinyl flooring market in Asia in 2019, accounting for about 38.9% of the global market. India came in second with a 23.1% share of the total market.
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Top Companies in the Vinyl Flooring Market
- Armstrong Flooring, Inc.
- Berkshire Hathaway Inc.
- CBC Co., Ltd.
- Congol,
- eum Corporation
- Forbo Flooring Systems
- Gerflor
- Mannington Mills, Inc.
- Mohawk Industries, Inc.
- Novalis Innovative Flooring
- Tarkett S.A.
- Other Prominent Players
Market Segmentation Overview
By Product
- Vinyl Sheets
- Vinyl Tiles
- Luxury Vinyl Tiles
By Application
- Residential
- Commercial
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
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