Registering a CAGR of 4.5% over the forecast period of 2022-2027, the global vinyl tile market is anticipated to reach the market value of US$ 9840.7 million in the year 2027 from US$ 8264.5 million in the year 2020.
Vinyl Tile Market Overview
The LVT market has been passing through an exciting period, due to the influx of newer materials, technology, and specialized machinery.Growing demand for the product in high-traffic area construction segments such as offices and commercial spaces is likely to support market growth. The product is considered to be a cost-effective alternative for wood and carpet tiles. Furthermore, superior comfort and noise control offered by these floors are expected to propel their demand in multistory buildings over the projected period.Technological advancements by manufacturers to introduce self-adhesive floorings have benefited the industry growth over the past few years. Moreover, increasing investments by key manufacturers to offer customized product solutions in different colors, design patterns, textures, and dimensions are fueling product penetration in the construction sector. LVT is more durable and offers better performance in comparison to standard vinyl tiles, which offers them a competitive advantage over their counterparts. LVT segment has caught the attention of consumers in the past few years owing to the availability of the product in numerous designs and textures. The introduction of digital printing technology to the flooring industry, which enables easy texture printing on these tiles, is likely to support the market growth over the expected period.Commercial construction segments such as hotels and shopping malls are expected to be the key users of these tiles as they offer cost-effectiveness along with superior aesthetics.Rising influence of designers and architects for the use of vinyl flooring in commercial application is expected to boost product demand.
Who are the Major Players in Vinyl Tile Market?
The Vinyl Tile Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes Tarkett, Gerflor, Armstrong, Mannington Mills, NOX, Shaw, Hanwha, LG Hausys, Mohawk, Polyflor, Congoleum, Forbo, TOLI, Beaulieu, Tajima, Metroflor, Interface, RiL, Karndean, Roppe, Milliken, Kraus, Parterre, Kingdomfloor, Snmo LVT, Hailide New Material, Taide Plastic Flooring and others.
Industry News
Tarkett releases its 2021 Corporate Social & Environmental Report highlighting significant performance and new climate targets
2022, March 10,
Tarkett, a worldwide leader in innovative and sustainable flooring and sports surface solutions, has released today its 2021 Corporate Social & Environmental Responsibility (CSR) report, also known as extra-financial performance declaration. Fully audited by an independent third party - KPMG -, this report outlines the company’s significant sustainability performance and strong ambition, including new climate targets.
What are the major Applications, Types and Regions for Vinyl Tile Market?
Vinyl Tile Market is segmented based on the type, applications, companies and regions.
By Type, Vinyl Tile Market has been segmented into
- Luxury Vinyl Tile (LVT)
- Vinyl Composite Tile (VCT)
- Others
By Applications, Vinyl Tile Market has been segmented into
- Commercial Use
- Residential Use
Vinyl Tile Market Regional Analysis
The Asia Pacific region witnessed an increasing number of remodeling and maintenance activities in the residential and non-residential construction sectors and held the larger market share. In addition, the LVT flooring market in this region is projected to grow at the highest CAGR during the forecast period, in terms of both values as well as volume.
The report offers in-depth assessment of the growth and other aspects of the Vinyl Tile Market in important regions, including the
North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Vinyl Tile Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Vinyl Tile Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Vinyl Tile Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 4.5% during the review period (2022 to 2027).
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By Type
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- Luxury Vinyl Tile (LVT)
- Vinyl Composite Tile (VCT)
- Others
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By Application
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- Commercial Use
- Residential Use
- Others
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By Companies
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Tarkett, Gerflor, Armstrong, Mannington Mills, NOX, Shaw, Hanwha, LG Hausys, Mohawk, Polyflor, Congoleum, Forbo, TOLI, Beaulieu, Tajima, Metroflor, Interface, RiL, Karndean, Roppe, Milliken, Kraus, Parterre, Kingdomfloor, Snmo LVT, Hailide New Material, Taide Plastic Flooring and others.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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132
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Vinyl Tile Report
- Evaluate Vinyl Tile market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Vinyl Tile market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
FAQ -
What is the study period of this market?
The Vinyl Tile Market is studied from 2017 - 2027.
What is the growth rate of Vinyl Tile Market?
The Vinyl Tile Market is growing at a CAGR of 4.5% over the next 5 years.
What regions does this Vinyl Tile Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
