Vinyl Floor Covering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Vinyl Floor Covering Market is Segmented by Product (Vinyl Sheet, Vinyl Composite Tile, and Luxury Vinyl Tile), by End-User (Residential and Commercial), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market size and forecasts are provided in terms of value (USD) for all the above segments.

Vinyl Floor Covering Market Size

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Vinyl Floor Covering Market Summary
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Study Period 2020 - 2029
Market Size (2024) USD 26.34 Billion
Market Size (2029) USD 55.73 Billion
CAGR (2024 - 2029) 16.17 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Vinyl Floor Covering Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Vinyl Floor Covering Market Analysis

The Vinyl Floor Covering Market size is estimated at USD 26.34 billion in 2024, and is expected to reach USD 55.73 billion by 2029, growing at a CAGR of 16.17% during the forecast period (2024-2029).

  • Vinyl flooring is a popular choice for residential and commercial applications due to its durability, ease of maintenance, and affordability. The market is being driven by factors such as the rising demand for eco-friendly flooring solutions, the increasing number of renovation and remodeling activities, and the growing popularity of luxury vinyl tiles (LVTs) and vinyl composite tiles (VCTs). Additionally, the use of vinyl flooring in healthcare facilities, schools, and other public buildings is also driving market growth.
  • COVID-19 had an unprecedented and devastating impact worldwide, causing a negative demand shock across the globe. In 2020, the global market experienced a significant drop of around 0.1%. Additionally, several building construction projects were halted during the pandemic, and numerous projects were postponed until early 2021 due to lockdowns imposed in various nations
  • Rising demand for the product in high-traffic area construction segments such as offices and commercial spaces is likely to support market growth on a global level. The product is a cost-effective alternative for wood and carpet tiles. Furthermore, superior comfort and noise control offered by these floors is expected to propel their demand in multi-story buildings over the projected period. The product is the most widely used type of resilient flooring solution. Consumers are shifting from traditional stone floorings to resilient floorings owing to their lightweight, easy maintenance, and cost-effectiveness.
  • Technological advancements by manufacturers to introduce self-adhesive floorings have benefited the industry's growth over the past few years. A rising number of multifamily houses to accommodate the growing population is expected to have a positive impact on vinyl flooring market growth. Moreover, increasing investments by key manufacturers to offer customized product solutions in different colors, design patterns, textures, and dimensions are fuelling product penetration in the construction sector.

Vinyl Floor Covering Market Trends

Luxury Vinyl Tile Segment to Remain the most Popular Category

  • Luxury vinyl tile is expected to remain the most popular category of vinyl flooring solutions, and the segment is likely to grow at a higher CAGR, in terms of revenue, over the forecast period. Luxury vinyl tile is more durable and offers better performance in comparison to standard vinyl tiles, which offers them a competitive advantage over their counterparts. 
  • The luxury vinyl tile segment has caught the attention of consumers in the past few years owing to the availability of the product in numerous designs and textures. The introduction of digital printing technology to the flooring industry, which enables easy texture printing on these tiles, is likely to support the market growth over the projected period.
Vinyl Floor Covering Market: Revenue of Luxury Vinyl Tiles, In USD Billion, Global, 2019 - 2028

Commercial Segment Hold the Largest Market Share

  • The commercial application segment accounted for the largest share of the vinyl floor market, and the segment is anticipated to grow at a higher compound annual growth rate (CAGR), in terms of revenue, over the forecast period. Commercial construction segments such as hotels and shopping malls are expected to be the key users of these tiles as they offer cost-effectiveness along with superior aesthetics.
  • The rising influence of designers and architects for the use of vinyl flooring in commercial applications is expected to boost 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 projected period.
Vinyl Floor Covering Market, by End-Use, Market Share In %, 2022

Vinyl Floor Covering Industry Overview

The report covers major international players operating in the Vinyl floor covering market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets. Some major players in the market are Armstrong Flooring, Inc., Mohawk Industries, Inc., Shaw Industries Group, Inc., Tarkett S.A., and Mannington Mills, Inc.

Vinyl Floor Covering Market Leaders

  1. Armstrong Flooring, Inc.

  2. Mohawk Industries, Inc.

  3. Shaw Industries Group, Inc.

  4. Tarkett S.A.

  5. Mannington Mills, Inc.

*Disclaimer: Major Players sorted in no particular order

Vinyl Floor Covering Market Concentration
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Vinyl Floor Covering Market News

  • February 2023: Shaw Industries Group, Inc. completed the purchase of a controlling interest in Watershed Solar LLC. (Watershed Solar). Watershed Solar provides patented renewable energy solutions. The technology, branded PowerCap, supplies low-profile, high-output solar arrays on top of landfills, coal ash closures, and rooftops, turning liabilities or underused spaces into renewable energy assets.
  • June 2022: Mohawk Industries, Inc. purchased the Vitromex ceramic tile business from Grupo Industrial Saltillo (GIS) for approximately USD 293 million in cash. The Vitromex business is expected to be accretive to Mohawk's earnings.

Vinyl Floor Covering Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Construction Activities

      2. 4.2.2 Increase in Demand for Luxury Vinyl Tiles is Driving the Market

    3. 4.3 Market Restraints

      1. 4.3.1 Fluctuations in Raw Material Prices

    4. 4.4 Value Chain / Supply Chain Analysis

    5. 4.5 Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Insights into Technological Innovations in the Market

    7. 4.7 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Vinyl Sheet

      2. 5.1.2 Vinyl Composite Tile

      3. 5.1.3 Luxury Vinyl Tile

    2. 5.2 End-Use

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Competition Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Armstrong Flooring, Inc.

      2. 6.2.2 Mannington Mills, Inc.

      3. 6.2.3 Mohawk Industries, Inc.

      4. 6.2.4 Tarkett S.A.

      5. 6.2.5 Forbo Flooring Systems

      6. 6.2.6 Shaw Industries Group, Inc.

      7. 6.2.7 Polyflor Ltd

      8. 6.2.8 Beaulieu International Group

      9. 6.2.9 Fatra a.s.

      10. 6.2.10 Gerflor

      11. 6.2.11 Forbo*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

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Vinyl Floor Covering Industry Segmentation

Vinyl flooring is a finished flooring material predominately made from a combination of limestone-based material mixed with composites of natural and synthetic polymer materials such as polyvinyl chloride and plasticizers. 

The vinyl floor covering market is segmented by product (vinyl sheet, vinyl composite tile, and luxury vinyl tile), by end-user (residential and commercial), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). 

The market size and forecasts are provided in terms of value (USD) for all the above segments.

Product
Vinyl Sheet
Vinyl Composite Tile
Luxury Vinyl Tile
End-Use
Residential
Commercial
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
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Vinyl Floor Covering Market Research FAQs

The Global Vinyl Floor Covering Market size is expected to reach USD 26.34 billion in 2024 and grow at a CAGR of 16.17% to reach USD 55.73 billion by 2029.

In 2024, the Global Vinyl Floor Covering Market size is expected to reach USD 26.34 billion.

Armstrong Flooring, Inc., Mohawk Industries, Inc., Shaw Industries Group, Inc., Tarkett S.A. and Mannington Mills, Inc. are the major companies operating in the Global Vinyl Floor Covering Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Global Vinyl Floor Covering Market.

In 2023, the Global Vinyl Floor Covering Market size was estimated at USD 22.67 billion. The report covers the Global Vinyl Floor Covering Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Global Vinyl Floor Covering Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Global Vinyl Floor Covering Industry Report

Statistics for the 2024 Vinyl Floor Covering market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vinyl Floor Covering analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Vinyl Floor Covering Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)