NEW YORK, May 12, 2023 /PRNewswire/ — The vinyl flooring market size is expected to grow by USD 11,531.07 million from 2022 to 2027. The market is expected to be progressing at a CAGR of 6.89% as per the latest Technavio market research report. APAC is estimated to account for 47% of the market’s overall growth. China, India, and Japan are two major countries that contribute to the growth of the market during the forecast period. Although vinyl flooring is not as popular in APAC as in other regions, vinyl flooring products, especially LVT, are expected to be increasingly accepted by the commercial and residential end-user industries during the forecast period. Hence, the growth of the construction market, together with the increasing adoption of vinyl flooring materials, will fuel the growth of the market in APAC. For more insights on the market share of various regions- Download a sample report in MINUTES

Vinyl Flooring Market: Increase in building and construction activities to drive growth

• The low cost and easy maintenance are a major driving factors for the market growth. 
• LVT is cost-effective, which is almost three times the price of hardwood flooring. Proper maintenance of hardwood requires significant amounts of material processing and finishing.
• The price of hardwood raw material (wood) is also high compared to LVT, which usually uses PVC and calcium carbonate.
• Since LVT is durable and can withstand high-traffic areas, commercial builders prefer LVT over hardwood flooring.
• Hence, such factors drive the market growth of vinyl flooring during the forecast period.

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Vinyl Flooring Market: Vinyl Planks Making A Comeback 

• Vinyl…