The demand within the global vinyl flooring tiles market is rising in lieu of advancements in interior designing. Vinyl flooring is a safe and durable method of flooring, and is extensively used in the residential and commercial sectors. The use of vinyl flooring tiles has become a matter of prestige due to the premium quality and high-end appeal of these tiles. The investments made in developing innovative designs of tiles have played a key role in market growth. Office spaces are laid with vinyl flooring to ensure a clean and congenial working environment. Therefore, the revenue index of the global vinyl flooring tiles market is expected to improve in the coming years.
- The growth of the hospitality sector has played a pivotal in the growth of the global vinyl flooring tiles market. Courtyards and lobbies in large hotels and restaurants are laid with vinyl flooring tiles. Therefore, the demand within the global vinyl flooring tiles market is projected to escalate to new heights.
- Furthermore, the presence of a seamless sector for overseeing cleanliness in commercial offices and corporate spaces has also driven market demand. People have become increasingly focused on enhancing the aesthetic appeal of their houses. Furthermore, the allied classes make formidable investments on interior planning and decoration. This is also a key consideration from the perspective of gauging the growth of the global vinyl flooring tiles market.
On the basis of geography, the vinyl flooring tiles market in Asia Pacific is expected to grow at a starry pace. The availability of unique designs of vinyl flooring tiles in the India and China has played to the advantage of the global market. The vendors in the global vinyl flooring tiles market are focusing on tying up with established retailers.
Global Vinyl Flooring Tiles Market: Introduction
Vinyl flooring tiles is a modern type of robust flooring. Robust flooring is a blend of artificial composites such as rubber, plastic, PVC, linoleum, and vinyl. Vinyl is the latest addition to this list. These synthetic composites, which can endure for more than a century, act as cost-effective substitutes for natural materials such as wood, concrete, ceramic, and marble. Vinyl is a synthetic material made from chlorine and ethylene. It is mostly used in construction activities, especially flooring. Vinyl flooring tiles provide toughness. They are easy to maintain, durable, and scratch-resistant
Global Vinyl Flooring Tiles Market: Trends & Developments
Demand for vinyl flooring tiles is increasing due to the rise in construction activities and strong growth of the commercial construction industry. Superior properties of vinyl flooring tiles, such as high resistivity to heat and scratches, boost their usage in residential and commercial construction sectors. Moreover, rise in the number of renovation projects is expected to propel the demand for vinyl flooring tiles in the near future. However, stringent regulations on the use of vinyl led by its hazardous impact on human being is likely to restrain the vinyl flooring tiles market during the forecast period. Nevertheless, the rise in population in developing economies encourage construction and infrastructure development activities. This, in turn, is projected to create lucrative opportunities for the global vinyl flooring tiles market in the near future.
Global Vinyl Flooring Tiles Market: Segmentation
The vinyl flooring tiles market can be classified based on component type, product type, end-user industry, and region. In terms of component type, the market can be segregated into polyvinyl chloride resins and plasticizers. Polyvinyl chloride resin tiles possess higher strength and durability. Hence, they are preferred in the construction of commercial buildings such as hospitals, schools, and offices. Based on product type, the vinyl flooring tiles market can be divided into vinyl tiles and luxury vinyl tiles. Luxury vinyl tiles contain vinyl in larger amounts. This, in turn, builds a better-performing flooring system that appears more realistic. This factor is expected to boost the demand for luxury vinyl tiles in various construction activities in the near future. In terms of end-user, the global vinyl flooring tiles market can be bifurcated into residential and commercial. The residential segment is expected to expand at a rapid pace during the forecast period, due to increase in population across the world.
Global Vinyl Flooring Tiles Market: Regional Outlook
In terms of region, the global vinyl flooring tiles market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in North America and Europe is estimated to expand at a sluggish pace during the forecast period. The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period, due to rapid industrialization in developing economies in the region, such as India and China. Increase in infrastructure development activities, growth of the automobile industry, and growing urbanization in the region. Additionally, increased consumption of vinyl flooring tiles in automotive, health care, manufacturing, retail, and education sectors is expected to drive the market in the Asia Pacific region during the forecast period. The vinyl flooring tiles market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future, owing to high production cost of vinyl flooring tiles in these regions.
Global Vinyl Flooring Tiles Market: Key Players
Key players operating in the global vinyl flooring tiles market are Mohawk, Gerflor, Armstrong, Mannington Mills Inc., Shaw Flor, Tarkett S.A., Novalis Innovative Flooring, Mannington Mills, Inc., Congoleum Corporation, and CBC Co., Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.