Vinyl Composition Tile (VCT) Flooring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026


#6483

Transparency Market Research

$ 5795

Vinyl Composition Tile (VCT) Flooring Market: Overview

Vinyl composition tile (VCT) flooring is manufactured by using natural materials such as limestone, color, pigments, and synthetic polymer materials such as polyvinyl chloride and plasticizers. It is typically used in commercial buildings such as hotel lobbies, hospitals, and commercial offices due to its high durability and low upfront cost. It is available in a wide range of colors and is resistant to abrasion, water, stains, and dirt. Vinyl composition tile (VCT) flooring has excellent dimensional stability and it can withstand UV radiations and excess heating conditions. This further aids in less wear and tear of the flooring material. Vinyl composition tile (VCT) flooring provides excellent slip-resistant finishes and excellent noise absorbance.

Vinyl Composition Tile (VCT) Flooring Market: Key Segments

The global vinyl composition tile (VCT) flooring market has been segmented based on product and application. Based on product, the market has been divided into single- layered vinyl composition tile (VCT) flooring and multiple-layered vinyl composition tile (VCT) flooring. Based on application, the global vinyl composition tile (VCT) flooring market has been segmented into residential, commercial, and industrial. Commercial is a leading application segment of the market, followed by the industrial segment. The residential segment holds a minor share of the market. Rising demand for tough tiles with high abrasion and slip resistance is augmenting the demand for vinyl composition tile (VCT) flooring for use in industrial applications.

Vinyl Composition Tile (VCT) Flooring Market: Drivers & Restraints

Increasing demand for harder tiles with high shine and glossy finish is driving the global vinyl composition tile (VCT) flooring market. Vinyl composition tile (VCT) flooring is becoming a popular choice for high-traffic applications such as schools, hospitals, hotels, and supermarkets, as it is eco-friendly and resistant to abrasion, chemicals, and solvents. It is manufactured by using recycled materials. This, in turn, is boosting the global vinyl composition tile (VCT) flooring market. Vinyl composition tile (VCT) flooring requires regular waxing, polishing, and stripping, which increases its maintenance cost and lifetime cost. This may hinder the global vinyl composition tile (VCT) flooring market during the forecast period. In addition, stiff competition from vinyl sheet and luxury vinyl tile (LVT), which have low maintenance cost and high durability, may also hamper the sale of vinyl composition tile (VCT) flooring  marketduring the forecast period.

Vinyl Composition Tile (VCT) Flooring Market: Regional Outlook

In terms of region, the global vinyl composition tile (VCT) flooring market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is a leading consumer of vinyl composition tile (VCT) flooring, followed by North America and Europe. Rising urbanization coupled with industrialization is generating high demand for commercial as well as industrial complexes. This, in turn, is boosting the demand for vinyl composition tile (VCT) flooring market. China, ASEAN, and India are likely to provide lucrative growth opportunities to vinyl composition tile (VCT) flooring manufacturers in Asia Pacific in the near future, due to rising construction activities and increasing construction GDP index in the region. Rising repair and re-construction activities in the U.S. are propelling the vinyl composition tile (VCT) flooring market in the country. In addition, the rising demand for durable flooring products with features such as easy installation, water resistance, stain resistance, and usability for DIY users is augmenting the vinyl composition tile (VCT) flooring market in North America. Germany, France, and countries in Rest of Europe are leading consumers of vinyl composition tile (VCT) flooring in Europe. Rising demand for flooring with excellent insulation properties and temperature resistance is fueling the market in Europe. The market in Latin America and Middle East & Africa is expected to expand at a moderate CAGR during the forecast period. Rising demand for use of vinyl composition tile (VCT) flooring in industrial warehouses and commercial buildings in GCC and Mexico is expected to propel the market in Middle East & Africa and Latin America, respectively, during the forecast period.

Vinyl Composition Tile (VCT) Flooring Market: Key Players

Key players operating in the global vinyl composition tile (VCT) flooring market are Armstrong Flooring, LG Hausys, Mohawk Industries Inc., and Shaw Industries Group Inc.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.