North America Vinyl Flooring Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

North America Vinyl Flooring Market Definition:

Vinyl flooring is made by combining natural and engineered polymer materials, which are stuck together to give an enduring, practical, and economical floor covering. It is flexible, simple to introduce and profoundly resistant to water and stains. It is accessible in different looks, patterns, and tones, like reproduced stone, tile, and wood grain. Likewise, it is easy to maintain as it has a versatile defensive covering that shields vinyl flooring from soil and scratches. Aside from this, as it is a well-known option in contrast to expensive floor materials like rug, vinyl flooring tracks down broad applications in the medical care, modern, private, friendliness, schooling, and retail areas.

 

Further, the Vinyl Flooring market is segmented by Product, Application, and geography. On the basis of Product, the Vinyl Flooring market is segmented under vinyl sheets, vinyl tiles and luxury vinyl tiles. Based on the Application, the Vinyl Flooring market is segmented under the channels of commercial and residential. By geography, the market covers the major countries in North America i.e., USA, Canada and Mexico. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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North America Vinyl Flooring COVID 19 Insights:

The COVID-19 flare-up has limited a few business exercises. Similarly, development exercises are additionally limited internationally during the pandemic period. Because of the lockdown limitations, the changes in accessibility, supply of raw material, absence of worker for hire labour forces are postponing the progressing and new development plans. Subsequently the interest for the vinyl flooring market is additionally diminished.

 

The majority of the development projects were delayed in various nations like India, Japan, China, and the U.S. The U.S Chamber of Commerce Study expresses that in July 2020 because of the pandemic, almost 85% of the project workers confronted a ton of issues and delayed their development works. There is a drop in the development project delays from 40% in April to 26% in July. The public authority plans and interests in development medical services and clinical offices in an exceptionally brief period are anticipated to make such deck items. Consequently the interest for the vinyl flooring market likewise increases.

 

North America Vinyl Flooring Market Dynamics:

The surging investment by the government in the construction of single-family homes is anticipated to fuel the growth in the U.S. in the near future. The North America vinyl flooring market is forecast to exhibit 14.4% in terms of market share in 2022, finds FMI.

 

According to the Associated General Contractors of America, the construction industry in the U.S. builds approximately US$ 1.4 trillion worth of structures every year and it is one of the major contributors to the country’s economy. Hence, the rapidly expanding construction sector will boost the LVT flooring market in the U.S.

 

Increasing uses of the item because of its predominant properties, rising number of remodels activities to upgrade the feel of the property, development of the business land area, increasing mindfulness among individuals with respect to protection are a portion of the elements which will liable to improve the development of the vinyl flooring market in the forecast period. Then again, developing interest of ecological agreeable items and rising degrees of extra cash of individuals which will additionally help different open doors for the development of the vinyl flooring market during the forecast period.

 

North America Vinyl Flooring Market Segment Analysis:

Based on Product, the vinyl flooring market is segmented into vinyl sheets, vinyl tiles and luxury vinyl tiles.  LVT is the most preferred segment of vinyl flooring arrangements. LVT is sturdy and offers better execution in contrast with standard vinyl tiles, which offers them an upper hand over their partners. LVT segment has grabbed the eye of shoppers in the recent years attributable to the accessibility of the item in various plans and surfaces. The acquaintance of computerized printing innovation with the ground surface industry, which empowers simple surface imprinting on these tiles, is probably going to help the market development over the projected period. Vinyl tiles are marginally costly when contrasted with sheets, in any case, are they are not difficult to supplant. Thus, they are ideally utilized where there are high possibilities of stains like kitchens, bistros, and lodgings. These products are viewed as the easy solution for DYI applications. Moreover, vinyl sheets offer better moisture control in contrast with tiles, therefore, they are viewed as most valuable in moist areas like washrooms.

 

 

By Application, the vinyl flooring market is segmented into commercial and residential. Commercial application segment accounted for the largest share of the vinyl floor in terms of revenue. Commercial construction segments such as hotels and shopping malls are the key users of these tiles as they offer cost-effectiveness along with superior aesthetics. Rising influence of designers and architects for the use of vinyl flooring in commercial application will boost the product demand. Easy cleaning and sterilization and stylish designs and slip & water resistance offered by these products are likely to propel their demand in commercial application over the forecast period. The housing sector in emerging regions including USA, Canada, and Mexico is experiencing rapid growth on account of easy availability of home loans and changing consumer lifestyle.

 

North America Vinyl Flooring Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide Product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the North America market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the North America Vinyl Flooring Market to the stakeholders in the industry. The report provides trends that are most dominant in the North America Vinyl Flooring Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the North America Vinyl Flooring Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Vinyl Flooring Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the North America Vinyl Flooring market. The report studies factors such as company size, market share, market growth, revenue, Product volume, and profits of the key players in the North America Vinyl Flooring market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their Product quality is in the North America Vinyl Flooring market. The report also analyses if the Vinyl Flooring Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Vinyl Flooring market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Vinyl Flooring market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Vinyl Flooring Market is aided by legal factors.

 

North America Vinyl Flooring Market Scope:

North America Vinyl Flooring Market
Market Size in 2023	USD 8.13 Bn.
Market Size in 2030	USD 10.85 Bn.
CAGR (2024-2030)	4.2%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Vinyl Sheets Vinyl Tiles Luxury Vinyl Tiles
	By Application Residential Commercial
Country Scope	United States Canada Mexico

 

North America Vinyl Flooring Market Key Players:

• Shaw Flooring (US)
• COREtec (Canada)
• Mohawk (USA)
• NuCore Flooring (USA)
• Home Decorators Collection. (USA)
• Beaulieu (Canada)
• Locua S A De C.V (Mexico)
• Polyflor
• Richmond (Canada)