USD 36.63 Billion
Vinyl Flooring Market Size, Share, Growth Analysis, By Product (Luxury Vinyl Tiles, Vinyl Sheets), By Application (Residential, Commercial), By Format (Rigid Vinyl Plank, Flexible Vinyl), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG25AE2005 |
Region:
Global |
Published Date: January, 2025
Pages:
182
|Tables:
86
|Figures:
71
Vinyl Flooring Market Insights
Global Vinyl Flooring Market size was valued at USD 36.63 Billion in 2023 and is poised to grow from USD 39.12 Billion in 2024 to USD 66.22 Billion by 2032, growing at a CAGR of 6.8% in the forecast period (2025-2032).
Increasing development of new innovative floor covering solutions and consumer trends in construction solutions and floor design have been critical in the industry development over the last few years. The expansion of enhanced offices and workspaces, along with increasing consumer lifestyles and rapid urbanization, has led to the global vinyl flooring market growth.
Significant and continual growth in urbanization and the building & construction industry in the emerging Asia Pacific economies, such as China, India, and Japan, has substantially driven the industry’s commercial end-use segment. Consumers are becoming more aware of environmental conservation, which has driven the use of environmentally friendly floor-covering solutions.
The U.S. accounted for the largest share in North America owing to increased demand from residential applications, a well-established service industry, an extensively developed manufacturing industry, and government initiatives to develop social infrastructure across the region. The high prevalence of sports activities in the U.S. is anticipated to result in the construction of new stadiums and fitness centers, which, in turn, is likely to promote the use of vinyl flooring products over the forecast period.
The value chain of the market is characterized by raw material suppliers, manufacturers, distributors & suppliers, flooring installers/contractors, and end users. Vinyl sheets, vinyl tiles, and luxury vinyl tiles are some of the prime flooring products under the vinyl flooring category that are installed in residential, commercial, and industrial applications.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
Commercial
Fastest Growth
Residential
Growth Rate
6.8% CAGR
Global Vinyl Flooring Market ($ Bn)
Country Share for North America Region (%)
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Vinyl Flooring Market Segmental Analysis
Global vinyl flooring market is segmented by product, application, format and region. Based on product, the market is segmented into vinyl sheets, vinyl tiles, luxury vinyl tiles. Based on application, the market is segmented into residential and commercial. Based on format, the market is segmented into rigid vinyl plank and flexible vinyl. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by Product
As per the global vinyl flooring market analysis, the luxury vinyl tiles segment led the market with the largest revenue share of 64.7% in 2024 and is expected to grow during the forecast period. LVT, also known as wide plank vinyl flooring, is becoming increasingly popular among consumers for residential and commercial applications due to its ease of installation, durability, and water resistance. Higher LVT benefits, such as stain, dent, and scratch resistance, as well as comfort underfoot, are replacing industry staples such as engineered wood flooring, solid wood flooring, and porcelain, which is expected to drive segment revenue growth.
The vinyl sheets segment is expected to exhibit at the fastest CAGR of 3.3% during the forecast period, owing to its ease of maintenance and durability are the primary factors contributing to the growth of vinyl-based products. Moreover, color and texture customization offered by the manufacturers is further propelling the product demand. These sheets are used as a substitute for natural stone flooring, ceramic tiles, hardwood flooring, and others. Vinyl sheets have flooring applications in moist areas such as the kitchen, bathroom, and laundry room. In addition, these floorings are used in indoor playgrounds for their cushioned effect to reduce the chances of injuries.
Analysis by Application
The commercial segment led the market with the largest revenue share of 54.3% in 2024 and is expected to witness a significant CAGR over the forecast period. Vinyl flooring is becoming more and more popular for use in commercial settings such as offices, residences, and other hospitality sectors due to its adaptability, affordability, durability, and ease of upkeep. The demand for vinyl flooring for commercial uses is anticipated to rise due to the fact that this flooring can be used in areas with heavy foot traffic. The commercial applications are holding the market share, like hotels and shopping malls are the key users of these tiles due to the tile's benefits, cost-effectiveness coupled with superior aesthetics. The use of vinyl flooring in the growing influence of designers and architects is predicted to accelerate the demand for the product. The features like easy cleaning & sterilization, stylish designs, and slip & water resistance are boosting the demand for the products in commercial applications.
The residential segment is estimated to expand at the fastest CAGR of 5.2% during the forecast period. The residential application segment includes residential buildings, apartments, complexes, and small houses. Vinyl floorings are majorly used in residential applications on account of their low cost, highly durable nature, and resistance to shock, stain, and dirt. The flooring is available in various patterns and shades, thus making it a perfect choice to create patterns resembling natural stone or wood. The rising number of single-family houses in developing economies and the growing disposable income of consumers are projected to drive the product demand in the residential application segment.
Global Vinyl Flooring Market By Application (%)
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Vinyl Flooring Market Regional Insights
North America accounted for a market share of 13.8% in 2024 in the global vinyl flooring industry and is predicted to remain the major market for vinyl flooring by 2031. North America dominates the global market in terms of consumption, owing to increased demand from residential applications, a well-established service industry, an extensively developed manufacturing industry, and government initiatives to develop social infrastructure across the region. Factors such as the rising number of single-family houses and strengthening residential replacement in the country have supported the market growth in the U.S. In addition, the well-established manufacturing industry in the country along with the presence of MNCs operating across all manufacturing industries, has played a major role in driving the demand for vinyl flooring in non-residential applications.
As per global vinyl flooring market outlook, Asia Pacific is dominating with the largest revenue share of 50.9% in 2024. The Asia-Pacific region contains a high population that offers a huge potential for infrastructural development and new housing demand which is boosting the market growth in this region. The largest construction market in this region is China. The changing building and construction trends to develop modern architectural structures in the country are boosting the product market growth in this region. Investments are rising for single-family constructions and are having a positive impact on the market growth in this region due to the increasing population.
Global Vinyl Flooring Market By Geography
- Largest
- Fastest
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Vinyl Flooring Market Dynamics
Drivers
Rapid Growth in Residential Buildings to Drive Market
- According to the World Bank, by 2050, the United Nations predicts the number of people on the planet will grow to nearly 10 billion. The growing migration of the population to cities is creating requirements for more housing and infrastructure. This need presents both an opportunity and a challenge for the architecture, engineering, and construction (AEC) sector. Rapid urban development is expected to impact on a local, regional, and ultimately global level.
Rising Disposable Income and Aesthetic Preferences
- The rise in the disposable income of consumers over the past few years has enabled them to modify their lifestyle and invest in luxurious housing projects or renovation and remodeling of their existing houses. The rise in demand for housing maintenance is anticipated to boost the global vinyl flooring market growth during the forecast period. The use of flooring solutions in residential buildings enhances aesthetic appeal and provides durability and comfort.
Restraints
Fluctuations in Prices of Raw Materials is Likely to Hinder Market Growth
- The raw materials include polyvinyl chloride resins, plasticizers, limestone, glass fiber, career sheet, pigments, & trace stabilizers. The costs of these materials are either high or remain fluctuated. The cost of raw materials accounts for nearly 50% of the total expenditure of the plant. Therefore, fluctuations in the prices create a huge impact on the overall manufacturing cost of these types of flooring. Hence, raw material price fluctuations are anticipated to hamper market growth.
Environmental Concerns Regarding PVC Use
- Vinyl flooring is primarily made from polyvinyl chloride (PVC), which raises environmental concerns due to its non-biodegradable nature and its potential to generate carbon dioxide emissions during production and disposal. Increasing regulatory scrutiny and consumer preference for eco-friendly alternatives may hinder market growth. The market is sensitive to fluctuations in the prices of raw materials such as PVC and additives.
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Vinyl Flooring Market Competitive Landscape
The competitive landscape in the vinyl flooring market is highly fragmented, with key players focusing on product innovation, strategic, and geographical expansion. Key companies such as Mohawk Industries, Inc., Armstrong Flooring, Inc., Tarkett Group, Gerflor Group, Forbo Holding AG Vinyl, these players, dominate the market. Additionally, emerging players in Asia-Pacific offer cost-competitive products, intensifying market competition and driving innovation in design and functionality.
Top Player’s Company Profiles
- Armstrong Flooring, Inc.
- Forbo Flooring Systems
- Mohawk Industries, Inc.
- Tarkett S.A.
- Mannington Mills, Inc.
- Shaw Industries Group, Inc.
- LG Hausys
- Gerflor
- Fatra A.S.
- Beaulieu International Group
- Polyflor Ltd.
- James Halstead PLC
- Roppe Corporation
- Milliken & Company
- CONGOLEUM Corporation
Recent Developments
- October 2023: Tarkett Home, one of the leading players in the flooring market, launched the next generation of its new 'fibrefloor' paper vinyl collection.
- September 2023: Mannington Mills launched a new premium vinyl plank collection with a focus on sustainability. Mannington Mills, US. leading premium flooring, using a new premium vinyl plank (LVP) collection called "Revive". The collection is made from recycled materials and is environmentally friendly around the area.
- March 2021: Armstrong Flooring introduces three LVT collections: Biome, Terra and Colossus, all incorporating unique Diamond Ten technology. The thinner design of this three-piece collection, with a 2.5 mm design, reduces material and energy consumption during manufacturing, resulting in a 31% reduction in carbon footprint.
Vinyl Flooring Key Market Trends
- Surging Demand for Luxury Vinyl Tiles (LVTs) from Construction Industry: The flooring sector has evolved beyond recognition owing to emerging technologies and the increasing use of specialized machinery. This has led to the demand for long-lasting industrial and commercial LVTs. This vinyl flooring type can remain intact for up to 25 years or twice the duration of other quality floorings. LVTs reduce replacement cost and material wastage, thus meeting environmental and sustainability objectives.
- Rapid Urbanization and Increased Disposable Income: India is currently witnessing an unprecedented phase of urbanization, with a significant number of people moving from rural to urban areas. Furthermore, the rapid economic growth has resulted in a considerable rise in disposable income, particularly among the middle-class population, which led to an increased demand for improved living standards and housing facilities. Apart from this, the significant growth in the construction industry is resulting in a heightened demand for durable, stylish, and cost-effective flooring solutions, such as vinyl flooring.
Vinyl Flooring Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the vinyl flooring market has seen tremendous growth due to its cost-effectiveness, durability and aesthetic versatility. Vinyl flooring is widely used in residential, commercial and industrial areas, and offers advantages such as water resistance, ease of maintenance and a wide range of designs. The market is driven by increasing urbanization, rising construction activities, and consumer preference for modern and low-maintenance flooring solutions. The demand for eco-friendly and recyclable vinyl flooring options has also surged, aligning with global sustainability goals. Growing economies, especially in the Asia-Pacific region, contribute significantly to the growth of the market, owing to expanded infrastructure and real estate sector.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 36.63 Billion |
| Market size value in 2032 | USD 66.22 Billion |
| Growth Rate | 6.8% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vinyl Flooring Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vinyl Flooring Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vinyl Flooring Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vinyl Flooring Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vinyl Flooring Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vinyl Flooring Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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