The global WPC luxury vinyl tile market is expected to grow at a significant CAGR of 10.8% during the forecast period (2022-2028). WPC Luxury Vinyl Tiles are composite vinyl tiles made of plastic wood that are used for flooring in homes and offices. WPC vinyl tiles are mostly made from recycled wood pulp and plastic or composites made of air-expanded polymers. The main factor attributing to the growth of the global luxury vinyl tile market WPC includes the growing investment in construction and infrastructure worldwide. According to the Institute of Civil Engineers (ICE), the global construction market is expected to reach $ 8 trillion by 2030, due to the development activities of countries including the US, China and India. In addition, European governments are investing heavily in smart city development projects. It is expected that there are about 300 smart cities in the EU. Hence, increasing the application of luxury WPC vinyl tiles in offices and homes.
Click here to get a free sample report of the prestigious WPC @ vinyl tile market https://orionmarketreports.com/request-sample/?id=112752&submit=Request+Sample%0D%0A
The application of WPC luxury vinyl tiles is also growing for flooring due to a number of benefits provided by WPC luxury vinyl tiles. These benefits include ease of installation, good feeling underfoot, providing waterproof flooring, very low maintenance and care, availability in several options of styles and colors and many others. Hence, driving the growth of the prestigious WPC global vinyl tile market.
Get a 15% discount on the purchase of this report: https://orionmarketreports.com/request-discount/?id=112752&submit=Request+Discount
Market players also contribute significantly to market growth by adopting various strategies including mergers and acquisitions, geographic expansion, partnerships, collaborations and new product launches, in order to remain competitive in the market. for example-
- In January 2019, Garflor Group, a manufacturer and marketer of innovative, decorative and sustainable flooring solutions, expanded its product portfolio of luxury vinyl tiles and planks by launching the “Creation 30” and “Creation 55” collection of luxury vinyl tiles. Garflor offers luxury vinyl tiles of more than 35 colors and new styles consisting of about 10 formats of tiles and planks.
- In July 2018, Mohawk Industries Inc., an American flooring manufacturer, acquired Godfrey Hirst Group, a flooring company from Australia operating in New Zealand and Australia. This acquisition is being made by Mohawk Industries with the aim of expanding its operations worldwide.
A full report of the global WPC luxury vinyl tile market is available at: https://orionmarketreports.com/wpc-luxury-vinyl-tile-market/112752/
Market coverage
- Available market number for – 2021-2028
- Base year – 2021
- Forecast period – 2022-2028
- Covered segment-
- By type
- By application
- Covered areas-
- North America
- Europe
- Asia Pacific
- the rest of the world
- Competitive Landscape – Mohawk Industries Inc., Tarkett, Forbo Management SA, Shaw Industries Group Inc., and Armstrong Flooring Inc., among others.
Key questions addressed in the report
- What is the growth rate of the market?
- Which segment and region dominate the market in the base year?
- Which segment and region will show the fastest growth in the market?
- How has COVID-19 affected the market?
- Deviation from the forecast before COVID-19
- The area and section most affected
- Who is the market leader?
- How do players face challenges to sustain growth?
- Where is the investment opportunity?
Global WPC Luxury Vinyl Tile Market Report by Segments
By type
- Hard tile
- Flexible tile
By application
- House building
- Office construction
About us:
Orion Market Reports (OMR) strives to provide an exclusive combination of quality and quantitative market research reports to clients around the world. Our organization helps multinational and local organizations alike to strengthen their business by providing in-depth market insights and highly reliable future market trends. Our reports cover all the major aspects of the markets and provide insights and market forecast to global customers.
Communication contact:
Company Name: Orion Market Reports
Contact: Mr. Anorg Tiwari
Email: info@orionmarketreports.com
Contact number: +91 780-304-0404