Pune, India -- (SBWire) -- 01/21/2020 --Infinium Global Research has added a new report on the Global Vinyl Flooring Market. (Product Type - Luxury Vinyl Tiles (LVT), Vinyl Sheets, and Vinyl Composite Tile; End-user Industry - Residential, Healthcare, Education, Retail, Sport, Hospitality, and Industrial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global virtual reality market is projected to grow at a CAGR of 32.9% over the forecast period of 2019-2025.
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The vinyl flooring market is expected to grow to nearly USD 50 billion within the next five years. Vinyl floor is water-resistant, making it the perfect material to use in bathrooms, kitchens and other areas of homes, which are exposed to high moisture. Further, since these sheets have a clear wear layer, they act as surface barriers, protecting the floor from spills and stains. Additionally, vinyl is cost-effective and has a long life. Vinyl is normally considered to be a highly durable material and it can last for around 20 years if installed and maintained properly.
Expanding Construction Sector in the Developing Nations is also Anticipated to Increase the Usage of the Industry
The rising use of modern flooring for residential sites acts as a major driver for the growth of the vinyl flooring market. In addition, vinyl flooring is cost-effective, versatile, flexible, and is available in a variety of patterns and colors. Furthermore, the expanding construction sector in the developing nations is also anticipated to increase the usage of the vinyl flooring market. The growth of residential and office spaces across the globe is also leading to a significant increase in the use of vinyl flooring. However, people with respiratory and asthma problems are likely to be very susceptible as vinyl flooring discharges volatile organic compounds (VOC) into the air, especially in the case of new flooring.
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Rising Demand for Sophisticated Flooring and Increasing Willingness to Spend on Pattern Styled Products
The report on the global vinyl flooring market is bifurcated into product type and end-users. Based on product type, the markets are further bifurcated into Luxury Vinyl Tiles (LVT), Vinyl Sheets and Vinyl Composite Tile. Based on end-user, the markets are further divided into the residential, healthcare, retail, education, sport, hospitality, office, industrial and automotive. Among the end-users, the residential segment held a major market share in the vinyl flooring market owing to the rising demand for sophisticated flooring and increasing willingness to spend on pattern styled products.
Vinyl Flooring Market: Regional Analysis
The Asia Pacific holds the largest share in the global vinyl flooring market. China is the key country that contributes to the largest revenue in the Asia Pacific vinyl flooring market as it is one of the leading countries in the construction industry. Furthermore, Latin America is anticipated to advance in the vinyl flooring market owing to the improving infrastructure in countries including Peru, Colombia, Argentina, and Bolivia during the forecast period.
Vinyl Flooring Market: Competitive Analysis
The vinyl flooring market is a fragmented market. The key players in the vinyl flooring market are AFI Licensing LLC, Mohawk Industries, Inc., Forbo Flooring Systems Corporation, TOLI Corporation, Interface, Inc., Mannington Mills, Inc., C.I. TAKIRON Corporation, Responsive Industries Ltd., JAMES HALSTEAD PLC, Shaw Industries Group, Inc., and Gerflor among others.
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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The vinyl flooring market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the vinyl flooring market.
