Europe Vinyl Flooring Market Size, Share & Trends Analysis Report By Product, By Application, By Country And Segment Forecasts, 2020 - 2027

Europe Vinyl Flooring Market Size, Share & Trends Analysis Report By Product, By Application, By Country And Segment Forecasts, 2020 - 2027

  • September 2020 •
  • 118 pages •
  • Report ID: 5976468 •
  • Format: PDF
Europe Vinyl Flooring Market Size, Share & Trends Analysis Report By Product (LVT, Vinyl Tiles), By Application (Residential, Commercial), By Country (U.K., Germany, Russia), And Segment Forecasts, 2020 - 2027

Europe Vinyl Flooring Market Growth & Trends

The Europe vinyl flooring market size is expected to reach USD 11.4 billion by 2027, expanding at a CAGR of 3.1%. Easy installation and maintenance of vinyl flooring is projected to fuel its demand in the residential and commercial construction sectors.

The increasing number of manufacturers and suppliers who focus on providing cost-effective, low-maintenance, durable, and eco-friendly flooring solutions is likely to benefit the industry growth. In addition, rising urbanization coupled with changing consumer lifestyle focusing prominently on home décor is expected to generate new prospects for the industry participants.

Surging demand for insulation and flooring solutions in the construction industry is expected to boost market growth.Europe is expected to witness a substantial increase in the demand for flooring over the forecast period owing to the increased availability of innovative construction solutions and easy installation techniques.

Population expansion coupled with the growing demand for residential and commercial spaces is further anticipated to support the market growth in the region.

Europe Vinyl Flooring Market Report Highlights
• Luxury Vinyl Tiles (LVTs) segment accounted for the largest market share of over 56% in 2019 and is projected to ascend at the fastest CAGR of 3.9% from 2020 to 2027
• This growth can be attributed to the benefits of LVTs, such as durability and low cost
• The commercial application segment accounted for over 69% of the global market share in 2019 and is estimated to expand at the fastest CAGR over the forecast period
• Rising demand for highly durable and cost-efficient flooring for use in high-traffic commercial areas is projected to drive the commercial application segment
• PVC-free LVTs is projected to be the fastest-growing product segment from 2020 to 2027 on account of high durability coupled with easy designing and availability of these tiles in a variety of patterns and colors
• Germany accounted for the highest market share of 25.26% in 2019 and is projected to expand at the fastest CAGR from 2020 to 2027
• U.K. was the second-largest market in 2019 and is estimated to expand further at a steady CAGR from 2020 to 2027, owing to the increasing construction activities and growing population