North America Vinyl Flooring Market to be driven at a CAGR of 6.5% in the Forecast Period of 2021-2026

 The new report by Expert Market Research titled, ‘North America Vinyl Flooring Market Report and Forecast 2021-2026’, gives an in-depth analysis of the North America vinyl flooring market, assessing the market based on its segments like product type, sectors, and major regions like the United States and Canada. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2021-2026)

• Historical Market Size (2020): 325.2 Million Sq. Meters
• Forecast CAGR (2021-2026): 6.5%
• Forecast Market Size (2026): 474.5 Million Sq. Meters

The growth of the vinyl flooring market is driven by the factors such as increasing urbanisation and industrialisation, growing disposable incomes and rising preference of home décor. Additionally, the rising technological innovation in manufacturing process, enhanced performance, and availability of attractive designs are expected to propel the demand over the forecast period. Further, advantages of vinyl flooring such as moisture resistance, easy installation and maintenance and cost effectiveness compared to other floorings like ceramic, marble, concrete, and wood are expected to push the demand. The market is further expected to grow due factors such as rising advances in self-adhesive flooring and digital printing are expected to aid the market growth.

Industry Definition and Major Segments

Vinyl flooring are the flooring material composed of synthetic or natural polymers such as polyvinyl chloride (PVC) along with limestone base. It finds end use application across various sectors such as healthcare, industrial, automotive, and education, among others. These floorings are preferred owing to their ease of installation, quality finish, and water resistance.

The North America vinyl flooring market is divided based on product type into:

• Vinyl Sheet
• Luxury Vinyl Tile (LVT)
• Vinyl Composition Tile (VCT)

Based on sectors, the industry is bifurcated into:

• Residential
• Commercial

The regional markets for vinyl flooring include:

• The United States
• Canada

Market Trends

Regionally, North America is one of the significant regions for the global vinyl flooring market. This can be attributed to the rapid construction and renovation activities in United States. Additionally, owing to the factors such as endurance to high foot traffic, easy maintenance, high durability, and moisture resistance, among others, vinyl flooring finds its large-scale commercial application. Moreover, the demand for lightweight and low maintenance material from residential sector is expected to propel the market. The demand for luxury vinyl tiles, customised designs, colours, and patterns are projected to propel the regional market in the forecast period.

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Key Market Players

The major players in the market are Armstrong Flooring Inc. (NYSE: AFI), Mannington Mills, Inc., American Biltrite Ltd. (OTCMKTS: ABLT), Adore Floors, Inc., Tarkett USA & Canada., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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