Vinyl composition tile (VCT) flooring is produced by using natural substances such as limestone, colour, pigments, and synthetic polymer materials such as polyvinyl chloride and plasticizers. Various factors such as population growth, rise in disposable income, and changes in lifestyles increase the demand for modified and better residential construction, which in turn surge the need for renovation and construction of residential places such as family-homes, apartments, and condominiums are driving the market growth over the forecast period.

Global Vinyl Composition Tile (VCT) Flooring Market is segmented by product, by application and by region. By product, multiple-layered vinyl composition tile (VCT) flooring held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Multilayer vinyl composition tile (VCT) flooring includes ceramic tiles, wood, laminate, stone, marble, bamboo, and terrazzo. Multiple-layered vinyl composition tile (VCT) floorings are highly water resistant and offers various benefits such as low maintenance, high reliability.

Asia Pacific held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Factors such as increasing number of new housing units, increase in population, and growing investments in the commercial & institutional constructions and infrastructural projects, higher spending on office spaces and favourable government policies are driving the market growth in this region.

Report covers in depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Some of the major key players operating in this market are Armstrong Flooring, LG Hausys, Mohawk Industries Inc, Shaw Industries Group Inc., Berkshire Hathaway Inc., CBC Flooring, Congoleum Corporation, Forbo Holding AG, Tarkett S.A., Mannington Mills, Inc., Mohawk Industries, Inc, Gerflor SAS and IVC Group among others. These key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global vinyl composition tile (VCT) flooring market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global vinyl composition tile (VCT) flooring market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global vinyl composition tile (VCT) flooring market positioning of competitors.

Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Vinyl Composition Tiles Flooring Market.”

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The post vinyl composition tile (VCT) flooring market was valued at USD xx Mn in 2019 and is expected to reach USD xx Mn by 2027 at a CAGR of 5.3% over the forecast period 2020-2027. appeared first on MAXIMIZE MARKET RESEARCH.