Vinyl Flooring Market Size : The “Vinyl Flooring Market by End-user and Geography – Forecast and Analysis 2020-2024” report has been added to Technavio’s offering.
The vinyl flooring market is expected to grow by 262.94 mn m2, progressing at a CAGR of about 5% during the forecast period. Get Free Sample Report in MINUTES
Vinyl Flooring Market Size
The low cost and easy maintenance is one of the major factors propelling market growth. However, factors such as shortage of skilled labor will hamper the market growth.
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Vinyl Flooring Market: End-user Landscape
The growth in residential construction will lead to an increase in demand for vinyl flooring during the forecast period. The demand for vinyl flooring in the residential end-user segment will be largely driven by home remodeling projects. Vinyl flooring materials, especially LVT, have gained traction among residential construction and home remodeling projects. This is due to their superior properties such as water-resistance, ease of cleaning, and the ability to improve indoor air quality. With the rapid growth in renovation and new home construction projects, the demand for vinyl flooring will remain high during the forecast period.
Vinyl Flooring Market: Geographic Landscape
North America was the largest vinyl flooring market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The booming construction sector will significantly drive vinyl flooring market growth in this region over the forecast period. 33% of the market’s growth will originate from North America during the forecast period. The US is a key market for vinyl flooring in North America. Market growth in this region will be faster than the growth of the market in other regions.
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