The global PVC floor market was worth USD 16710 million in 2021 and is expected to reach USD 29714.96 million by 2031, with a CAGR of 5.9% over the forecast period.

PVC tiles flooring is a very new type of resilient flooring. PVC stands for polyvinyl chloride, a versatile material that may be used to produce a wide range of household objects including doors, windows, pipe fittings, and floors. PVC flooring is commonly used in commercial and residential buildings around the world, and it is relatively simple to install.

The PVC flooring market has expanded in parallel with economic growth and rising living standards. Meanwhile, environmental awareness plays an important part in the industry's growth. Given the market's fierce competition, companies must ensure that their products are of exceptional performance and quality, with a high level of customer service. Following market trends and establishing a competitive advantage by concentrating more on R&D and services to increase market share.

COVID-19 IMPACT: HALT ON PRODUCTION AND SUPPLY CHAIN DISRUPTION WILL IMPEDE SALES.

The current Covid-19 epidemic has had a substantial global impact on a wide range of industry. Polyvinyl chloride (PVC) flooring is extensively used in hospitals, schools, office buildings, and hotel lobbies. The recent global outbreak of a novel coronavirus infection has had a substantial impact on several industries. The increased demand for chemicals and supplies to treat the COVID 19 epidemic resulted in a shortage of raw materials for other products, despite high costs, disrupting the PVC Floor market supply chain. Companies that are rapidly expanding capacity to fulfill COVID-induced demand should be cautious when interpreting these unanticipated demand patterns.

LATEST TRENDS

Consumers' discretionary income is rising, allowing them to improve their lifestyle and invest in high-end luxury real estate. Furthermore, clients believe that a well-decorated home reflects their social standing, therefore they are looking into various flooring solutions, such as PVC flooring, to improve and maintain their social image. In the coming years, these elements are expected to present significant opportunities for industry players.

PVC Floor Market Segmentation

The market is divided into four types: homogeneous, heterogeneous, vinyl tiles, and luxury vinyl tiles.

The LVT category is likely to remain the most popular type of vinyl flooring. When compared to other types of PVC flooring, LVT is more durable and effective. LVT flooring has grown in popularity in recent years due to its versatility in terms of style and texture. During the anticipated period, the introduction of new technologies such as digital printing to the flooring sector is expected to boost the PVC floor market growth.

By Application Analysis

The market is divided into two segments based on its application: commercial and residential.

In terms of value, the commercial segment is expected to hold a sizable market share. During the forecast period, the category is likely to expand due to increased demand for PVC flooring in hospitals, enterprises, hotels, and educational institutions.

DRIVING FACTORS:

Population expansion and urbanization are boosting the PVC flooring market. According to the United Nations Department of Economic and Social Affairs (UN DESA), urban areas hosted around 55% of the global population in 2018. By 2050, this population is predicted to reach 68%. Furthermore, by 2050, the continual migration of individuals from rural to urban regions, combined with the global population growth, would have contributed 2.5 billion people to urban areas.

The emerging trend in the PVC Floor Market is to modify things to fit a specific application rather than enhancing overall product quality. Businesses should embrace digitally linked processes and focus on operational efficiency, supplier diversification, and cost control to create market opportunities during the forecast timeframe. Investing in R&D and technology to develop product lines will be the key growth engine for the market in the short to medium term, notwithstanding present difficult conditions.

RESTRAINING FACTORS:

The market's strength, in comparison to other materials such as wood and marble, is a significant constraint. Another challenge is the process of laying the subfloor while maintaining high quality standards for the PVC layer installation. Finally, volatile organic compounds are emitted during PVC installation and should not be ingested. Paste PVC manufacturers are working to create alternatives to such compounds in order to avoid their use.

PVC Floor Market Regional Insights

Asia Pacific is predicted to dominate the PVC floor market share due to the expansion of the building industry and increased awareness of polyvinyl chloride and other synthetic materials. Furthermore, as the global population expands, so does the demand for new housing, leading to an expansion of the paste PVC sector.

Europe is estimated to account for a sizable portion of the PVC floor market during the forecast period. Because of the growing amount of repair and maintenance activities in both residential and commercial properties. Furthermore, the region's market growth is expected to be aided by an increase in new housing units and expanded infrastructure investments.

Key Industry Players

Players in the PVC Floor market are adapting their business models to the new normal by focusing on digitalization and leveraging upcoming technologies such as robotic automation and AI. During the forecast period, top PVC Floor market players will continue to use mergers and acquisitions to acquire new technologies, strengthen portfolios, and leverage capabilities.

Industry Development - January 2019: Gerflor introduced two new LVT - Luxury Vinyl Tiles & Planks collections: Creation 30 and Creation 55. The collection featured 35 new designs and colors, as well as ten alternative plank and tile formats.

• Market players profiled: LG Hausys Armstrong
• Gerflor Targett.
• Polyflor - James Halstead
• Bonie Takiron
• HANWHA
• Liberty
• Forbo Dajulong Serfleks
• Mannington Mohawk (including IVC)
• M. J. International Group
• Nox
• GRABO
• Suzhou Huatai, Taoshi, Windmoeller/Witex Flooring.
• Yihua Tinsue Weilianshun
• BEIJING LITANG

REPORT COVERAGE.

The study is based on firsthand information, qualitative and quantitative analysis by industry analysts, and comments from industry professionals and stakeholders along the value chain. The research delves deeply into parent market trends, macroeconomic statistics, and governing factors, as well as market appeal by segment. The research also illustrates the qualitative impact of key market drivers on market segments and geographies.