NEW YORK, March 24, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global vinyl flooring market looks good with opportunities in the residential and commercial building construction markets. The global vinyl flooring market is forecast to grow at a CAGR of 3.3% from 2015 to 2020. The major growth drivers for this market are the growth of the global building construction market and reconstruction activities. Vinyl flooring has better aesthetics and functionality, resistant to fire, water, and sound reduction, easy to clean and install property, and budget-friendly. Due to all these properties, the penetration of vinyl flooring is increasing.
On the basis of comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period. On the basis of product type, luxury vinyl tiles are expected to show a higher growth rate than vinyl sheets and vinyl composition tiles during the forecast period.
In this market, the commercial segment is expected to remain the largest market by value. Increasing demand for vinyl flooring in hospitals, offices, hotels, and educational institutes is expected to spur growth for this segment over the forecast period.
APAC is expected to remain the largest market due to the growth in the construction industry and increasing awareness of product features. Expanding population in this region also offers a huge potential for new housing demand, which would lead to the growth of the vinyl flooring market.
North America is expected to witness the highest growth (by value and volume) over the forecast period because of the recovery of the US economy and growing residential and commercial building construction activities.
For market expansion, the report suggests innovation and new product development where the unique characteristics of vinyl flooring can be capitalized.
The emerging trends, which have a direct impact on the dynamics of the industry, include loose lay flooring and phthalate-free vinyl flooring. Tarkett, Shaw Industries, Inc., Mohawk Industries, Inc., Mannington Mills, Inc., and Armstrong World Industries, Inc. are among the major suppliers of vinyl flooring. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global vinyl flooring market by product, application type, and region and has come up with a comprehensive research report, "Opportunities for Vinyl Flooring in the Global Building Construction Market 2015-2020: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a springboard for growth strategies, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes forecasts for the global vinyl flooring market through 2020, segmented by product, end use industry, and region as follows:
By end use industry [$ million market size analysis from 2009 to 2020]:
By product type [$ million market size analysis from 2009 to 2020]:
- Vinyl Sheet
- Luxury Vinyl Tile (LVT)
- Vinyl Composition Tile (VCT)
By region [value ($ million) and volume (million sq mt) market size analysis for 2009 to 2020]:
- North America
- Asia Pacific
- Rest of the World
Some of the features of "Opportunities for Vinyl Flooring in the Global Building Construction Market 2015-2020: Trends, Forecast, and Opportunity Analysis" include:
- Market size estimates: Opportunities for vinyl flooring in the global construction industry in terms of volume (Mil square meters) and value ($ Mil) shipment.
- Trend and forecast analysis: Vinyl flooring in the global construction industry trend (2009-2014) and forecast (2015-2020) by region, segment, and applications.
- Segmentation analysis: Vinyl flooring market size by various product types such as vinyl sheet, luxury vinyl tile, and vinyl composition tile both in terms of volume and value shipment.
- Regional analysis: Vinyl flooring in the global construction industry breakdown by key regions such as North America, Europe, Asia Pacific, and Rest of World.
- Growth opportunities: Analysis on growth opportunities in different segments, applications and regions.
- Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of vinyl flooring in the global construction industry
- Emerging applications: Emerging applications of vinyl flooring in the global construction industry.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Read the full report: http://www.reportlinker.com/p03509637-summary/view-report.html
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