Global demand for vinyl flooring is forecast to rise 4.4% per year to 3.0 billion square meters in 2021, exceeding the global flooring average pace. The increasing popularity of luxury vinyl tile will continue to bolster demand, spurring growth even in mature markets such as the US and Western Europe. However, the pace of gains will slow from that of the 2011-2016 period, when demand for luxury vinyl tile products grew especially rapidly from a small base. These and other trends are presented in Global Hard-Surface Flooring, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Vinyl flooring will continue to be popular in the North American market, representing 37% of all flooring demand by 2021. Technological advances in luxury vinyl tile have improved its appearance and allowed it to mimic higher-end materials such as hardwood or stone. These aesthetic advances, coupled with the historically lower price point for resilient flooring like vinyl, have continued to drive the product’s growth in the region.
Demand for vinyl flooring in the United States will increase 3.3% through 2021. The increased popularity of luxury vinyl tile will continue to contribute to strong growth for vinyl flooring going forward, but the pace of gains in the United States will slow considerably as these products become entrenched in the flooring market.
Global Hard-Surface Flooring (published 09/2017, 317 pages) is available for $6100 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
Related studies include:
#3555 Global Carpets & Rugs Market (August 2017)
#3474 Molding & Trim in the US, 6th Edition (November 2016)