The global Asia Pacific Vinyl Flooring Market size was USD 33.10 Billion in 2021 and is expected to register a revenue CAGR of 6.9% during the forecast period. Increasing demand from consumers for low maintenance, cost-effective, and water-resistant flooring solutions is expected to drive revenue growth for the Asia Pacific Vinyl Flooring Market. Vinyl flooring has higher durability of almost 10 to 20 years with an easy material installation that makes this flooring material preferred and beneficial for individuals in residential, industrial, and commercial purposes. PVC as a raw material in vinyl flooring along with other chemicals makes this flooring water-resistant, durable, colorful, and hard. In hospitals, vinyl flooring is advantageous as this type of flooring helps to fight hospital-acquired infections. Vinyl flooring has no joints and is monolithic in nature, which reduces bacteria growth and fights infections in hospitals.
Top Companies Operating in the Global Asia Pacific Vinyl Flooring Market:
AFI Licensing LLC, Forbo Group, Mohawk Industries, Inc., Tarkett S.A., Mannington Mills, Inc., Boral Limited, Beaulieu International Group, Gerflor Group, Polyflor Ltd, and Brumark.
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The Asia Pacific Vinyl Flooring Market investigation report assesses the global market for the Vinyl Flooring industry and provides revenue and capability forecasts for the projected period of 2030. The factors that drive the industry's growth are highlighted in the report. The report divides the Asia Pacific Vinyl Flooring Market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Market Overview:
Increased construction activities and changing lifestyle across the globe is expected to increase demand for house renovation among consumers. The global construction market has grown from USD 10 trillion in 2019 to USD 11.7 trillion in 2020, which in turn has increased demand for vinyl flooring as an alternative flooring solution. Demand for vinyl flooring is highest in these countries and growing further. Individuals are increasingly spending on home renovation and enhancement. Increasing disposable income encourages individuals to improve lifestyles and invest in luxurious housing. As perceived by consumers, a decently decorated room symbolizes status and individuals have started to enhance different flooring solutions such as vinyl flooring for uplifting social images. Social media has a significant impact on consumers to influence individuals to invest in housing renovations. Do-it-yourself (DIY) home improvement projects on social media usually promote solutions that can be easily installed, has low maintenance, are less expensive, and makes it homely. Interest in modernizing home space with user-friendly appliances is expected to increase demand for vinyl flooring as a flooring solution in home renovation.
The incorporation of advanced production techniques has improved the performance, design, and installation of vinyl flooring with higher resolutions, and sharper textures. Also, technological advancements such as self-adhesive tiles, loose lay planks, interlocking planks and tiles, and glue down tiles that have simplified installation processes are expected to support revenue growth of the market. The developing construction industry and interior design activities in developing countries are expected to positively impact the Asia Pacific Vinyl Flooring Market. Re-generation of urban areas and smart city creation requires newly developed flooring materials that are expected to drive revenue growth of the Asia Pacific Vinyl Flooring Market.
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Asia Pacific Vinyl Flooring Market Segmentation
Type Outlook:
- Vinyl Sheets
- Vinyl Tiles
- Luxury Vinyl Tiles
Material Outlook:
- Wood Plastic Composite
- Stone Plastic Composite
End-Use Outlook:
- Residential
- Commercial
- Industrial
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Asia Pacific Vinyl Flooring Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Asia Pacific Vinyl Flooring Market.
The global Asia Pacific Vinyl Flooring Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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