Vinyl Tiles Flooring Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2025
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Vinyl Tiles Flooring Market 2019
New Study Reports “2017-2025 Report on Global Vinyl Tiles Flooring Market by Player, Region, Type, Application and Sales Channel” Added on Wiseguy reports.
Market Overview
Vinyl tile is a reliable, low-maintenance and affordable kind of flooring that’s quick to put in, and can be used in any kind of room in residential or commercial buildings. Vinyl composition tile that is also known as VCT, is a finished and luxurious flooring material used largely in commercial and residential application areas. Contemporary vinyl flooring tiles and sheet flooring and other versions of those products are being sold in the market since the 1980s. These products are formulated of colored polyvinyl chloride flakes shaped into solid sheets of varying thicknesses by pressure and heat.
In the year 2016, vinyl composite tile and vinyl sheet segments of the vinyl flooring market accounted for more than half of the share in the global market in terms of revenue. However, luxury vinyl tile is foreseen to grow at the highest CAGR of about 14.1% overtaking vinyl composite and vinyl sheet tile in 2020.
The tiles are further cut into modular structures such as rectangles or squares. In the installation, the flooring sheet or tile is applied to a leveled, smooth sub-floor using an exclusively formulated vinyl adhesive or tile mastic that stays pliable. In commercial applications, flooring tiles or sheets are normally waxed and buffed using special elements and equipment.
Contemporary vinyl flooring tiles are often chosen for high-traffic areas because of its durability, low cost, and convenience of maintenance. These tiles have high strength and can often be refinished using mechanical buffing equipment and chemical strippers. When properly installed, these tiles can be effortlessly replaced or removed when damaged.
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The major players in global and United States Vinyl Tiles Flooring market, including Tarkett, Forbo, Beaulieu, Mohawk, Gerflor, DLW Flooring, James Halstead, Amtico, Armstrong, Mannington Mills, Shaw, Congoleum, NOX Corporation, LG Hausys, TOLI, Naibao Floor.
Market growth analysis
Factors such as the rising demand for infrastructures in various sectors including industrial, automotive, healthcare, education, and others and the increase in residential and commercial constructions fuels the growth of the market. In 2016, Asia-Pacific accounted for the highest vinyl tile market share and is anticipated to maintain this trend during the forecasted period.
Growth in the construction of industrial, healthcare, and educational infrastructures in emerging countries like India and China is another factor responsible for the said market growth. Moreover, increased population, growth in disposable income, and advancements in lifestyles increase the demand for modified and luxurious residential construction, which in turn raises the desire for renovation and construction of residential places such as family-homes, and apartments.
Market segmentation
Based on the products, the global vinyl tile market can be segmented into-
Vinyl Sheet Tiles
Vinyl Composite Tiles
Luxury Vinyl Tiles
Based on end-users, the market can be segmented into-
Residential
Hospitality
Healthcare
Retail
Industrial
Automotive
Education and sports
Regions that drive the growth of vinyl tiles market-
North America(US, Canada, Mexico)
Europe(UK, Germany, Italy, France, Spain, and Russia)
Asia-Pacific(India, China, Japan, South Korea, and Indonesia)
LAMEA(Brazil, Saudi Arabia, South Africa, and Turkey)
Facts
Research suggests that the residential segment accounts for the highest market share in the global vinyl tile market. Vinyl flooring is available in the form of tiles, sheets, and planks having high resistance and convenient maintenance, thus utilized in renovation and construction applications of houses.
Availability of the tile in a wide range of patterns, sizes, colors, and texture has increased its demand for designing floor of different areas of houses such as kitchen, living areas, washrooms, and others. As these tiles are easy to clean, as well as slip-resistant, they are widely used in healthcare and other hospitality sectors.
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