Lucintel’s latest market report analyzed that vinyl flooring provides attractive opportunities in residential and non-residential applications. The vinyl flooring market is expected to reach $20.1 billion by 2028 with a CAGR of 3.8%. In this market, vinyl sheet is the largest segment by product, whereas non-residential is largest by end use. Growing adoption of loose lay flooring – an innovative form of luxury vinyl tile and increasing demand for phthalate-free vinyl flooring provides strategic growth path in this market.
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Based on product, the vinyl flooring market is segmented into vinyl sheet, luxury vinyl tile, and vinyl composite tile. The vinyl sheet segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to their superior properties such as water-resistance, slip resistance, and ease of maintenance.
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The Vinyl Flooring Market is marked by the presence of several big and small players. Some of the prominent players offering vinyl flooring include Shaw Industries, Tarkett, Mohawk Industries, Gerflor, and Mannington Mills.
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