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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.
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
Key Benefits of the Report
Vinyl Flooring in Construction Market Report Highlights
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Key Market Players | AWI Licensing LLC, Mohawk Industries inc., Lumber Liquidators Inc., Forbo group, CBC Flooring, Karndean, Mannington Mills, Inc, Congoleum Corporation, Tarkett, Parterre Flooring Systems Corporation |
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