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Companies covered in the vinyl flooring market are Armstrong Flooring, Inc. Forbo Flooring Systems, Mohawk Industries, Inc. Tarkett S.A. Mannington Mills, Inc. Shaw Industries Group, Inc. LG Hausys, Gerflor, Interface, Inc. Polyflor Ltd and more players profiled.

The global vinyl flooring market size is expected to showcase exponential growth by reaching USD 51.45 billion by 2028 while exhibiting a CAGR of 6.8% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Vinyl Flooring Market, 2021-2028.” The report further mentions that the market stood at USD 30.61 billion in 2020. The increasing focus on the development of residential buildings and the growing demand for advanced healthcare facilities worldwide is anticipated to boost the product’s demand during the forecast period.

The drastic effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. The lockdown imposed by the government agencies has led to several industries facing halted industrial operations. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

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The Russia-Ukraine war could change the Vinyl Flooring Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Vinyl Flooring Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.

Based on type, the market is trifurcated into vinyl sheets, vinyl tiles, and luxury vinyl tiles. On the basis of end-use the market is bifurcated into residential and non-residential.

Finally, based on region, the market is divided into Europe, North America, South America, Asia-Pacific, and the Middle East and Africa.

What does the Report Include?

The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

Increasing Focus on Development of Healthcare Infrastructure to Promote Growth

In May 2021, Interface announced the launch of its first-ever vinyl sheet products, which is an addition to its current portfolio of LVT, carpet tile, and Nora rubber flooring. With the launch, the company is expected to provide complete flooring solutions that cater to the requirement of the healthcare facilities. The increasing demand for such flooring across several healthcare facilities is witnessed as a positive sign for the growth of the market. In addition to this, the increasing focus on the development of residential buildings that have gained momentum owing to the proactive government initiatives of smart cities will contribute to the global vinyl flooring market growth during the forecast period.

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Asia-Pacific to Remain Dominant; Rapid-Paced Urbanization to Aid Growth

Among all the regions, Asia-Pacific is expected to dominate and hold the highest position in the market during the forecast period. This is due to the rapid-paced urbanization in countries such as India and China that has led to the surge in renovation activities of residential and commercial buildings propelling the demand for innovative vinyl floorings.

The market in North America is expected to experience considerable growth backed by the increasing focus on the enhancement of commercial buildings such as offices, schools, and healthcare institutions in countries such as the U.S.

Key Players Focus on Merger Strategies to Expand Their Product Portfolio and Boost Sales Revenue

The market is consolidated by the presence of major companies spread across the globe. These companies are focusing on developing and introducing innovative vinyl flooring products to gain a competitive edge over their rivals. Moreover, other key players are adopting strategies such as the introduction of new products, partnerships, and collaboration to maintain their strongholds that will favor market growth.

List of the Companies Profiled in the Global Market:

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Vinyl Flooring Market Size Is Expected To Reach USD 58.11 Billion By 2027 | Vinyl Flooring Industry Future Growth, Trends and Top Key Players

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