Global Polyvinyl Chloride (PVC) Floor Market

Market Outlook:

The global polyvinyl chloride (PVC) floor market was valued at USD 13,752.0 million in 2019 and is projected to reach USD 20,250.9 million by 2027, expanding at a CAGR of 5.4% during the forecast period. In terms of volume, the market is projected to expand at a CAGR of 4.8% during the forecast period. PVC flooring, also known as vinyl flooring, is one of the most important end-uses of PVC. It is made from synthetic materials such as fiberglass, PVC, and plasticizer. It is highly durable as it is composed of multiple layers and has a thick core to keep the user comfortable when walking. PVC floors are readily available in either sheet or tile form for residential and commercial uses. Introduction of new printing and manufacturing technologies in the last few years has improved PVC floorings performance especially durability against gouges, rips, and tears. These floors are longer-lasting, easier to maintain, and moisture-resistant as compared to many alternative materials; therefore, PVC floors are preferred for usage in bathrooms and residential kitchens, healthcare facilities, and commercial & retail establishments.

Global Polyvinyl Chloride (PVC) Floor Market Key Takeaways

Market Dynamics

The PVC floor market is majorly driven by factors such as rise in population and rapid urbanization. According to data published by the United Nations Department of Economic and Social Affairs (UN DESA) in 2018, around 55% of the world’s total population lived in urban areas. This population is anticipated to rise to 68% by 2050. Moreover, the gradual shift in the residence of humans from rural to urban areas and the overall increase of the world’s population can complement 2.5 billion people more to urban areas by the year 2050.

Other factors such as the development of large-scale infrastructural projects in developing countries of regions Europe, South East Asia Pacific, and the Middle East are further boosting the market growth. Additionally, rise in construction of new malls, transport infrastructure, and restaurant renovation activities in countries such as India and China are anticipated to fuel market growth in Asia Pacific.

PVC floor is prone to gouges, scratches, and dents; therefore, it is important to avoid dragging of chairs and heavy furniture over the surface and walking with pointed heel shoes on the floor. Moreover, dogs with long nails can damage the surface.

Growth in the disposable income of consumers is enabling them to enhance their lifestyle and invest in a high-quality luxurious home. Furthermore, it is commonly believed by the consumers that a well-decorated home is a symbol of social status, as a result, consumers are exploring various flooring options, including PVC flooring, to improve and maintain their social image. These factors are expected to offer ample opportunities for the PVC flooring market players in the coming years.

Segmental Outlook

Based on product types, the global polyvinyl chloride (PVC) floor market has been segmented into sheets, vinyl tiles (VT), and luxury vinyl tiles (LVT). The LVT segment is anticipated to remain the most popular category of vinyl flooring solutions. LVT has high durability and provides better performance as compared to other types of PVC flooring. The demand for LVT flooring has increased in the last few years, as it is available in numerous designs and textures. The introduction of new technologies such as digital printing to the flooring industry is expected to boost market growth during the forecasted period. Digital printing allows easy texture printing on PVC tiles. Two types of LVT are available in the market namely flexible LVT and rigid LVT. Flexible LVT is used widely across the world, as it is cost-effective and suitable for almost all type of End-uses such as commercial and residential.

Global Polyvinyl Chloride (PVC) Floor Market By Product Type

Based on compositions, the market has been classified as homogeneous and heterogeneous. The market is anticipated to dominate by heterogeneous PVC floor sheets. Heterogeneous flooring also offers excellent sound reduction properties because it can be installed from wall to wall. These flooring offer firm grip on wet areas such as showers, sinks, and swimming pools. As a result of all these factors, heterogeneous flooring is widely used in residential and commercial applications.

Global Polyvinyl Chloride (PVC) Floor Market By Composition

Based on end-uses, the into market has been bifurcated commercial and residential. The commercial segment dominated the PVC flooring market in 2019 and is projected to expand at a CAGR of 4.6% during the forecast period. The commercial construction segments include shopping malls and hotels is anticipated to be the main users of these tiles, as they are cost-effective and provide superior esthetics. The growing influence of architects and designers for the use of PC flooring in a commercial application is anticipated to increase product demand. Effortless cleaning & sterilization coupled with stylish designs offered by this flooring are expected to drive their demand in commercial applications during the forecast period. Rapidly increasing consumer disposable income and high rate of urbanization in developing economies are anticipated to propel the growth of the residential segment.