Vinyl Composition Tile (VCT) Flooring: Introduction
- 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. VCT flooring has excellent dimensional stability and can withstand UV radiations and excess heating conditions. This further aids in less wear and tear of the flooring material. VCT flooring provides excellent slip-resistant finishes and noise absorbance.
Key Drivers and Restraints of Global Vinyl Composition Tile (VCT) Flooring Market
- The VCT flooring market has developed significantly of late. This can be primarily ascribed to the high performance of VCT globally. Increase in demand for harder tiles with high shine and glossy finish is driving the global VCT flooring market. 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 is boosting the global VCT flooring market.
- VCT flooring requires regular waxing, polishing, and stripping. This increases its maintenance cost and lifetime cost. This is expected to hinder the global VCT flooring market during the forecast period. Stiff competition from vinyl sheet and luxury vinyl tile (LVT), which have low maintenance cost and high durability, is also estimated to hamper the VCT flooring market during the forecast period.
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Vinyl Composition Tile (VCT) Flooring: Product Segment
- In terms of product, the global VCT flooring market can be segmented into single-layered VCT flooring and multiple-layered VCT flooring
- The multiple-layered VCT flooring segment is expected to account for significant share of the global market during the forecast period
Vinyl Composition Tile (VCT) Flooring: Application Segment
- In terms of application, the global VCT flooring market can be divided into residential, commercial, and industrial
- The commercial segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the residential segment.
- The industrial segment is likely to expand at a healthy CAGR during the forecast period, owing to the rise in demand for tough tiles with high abrasion and slip resistance
Covid-19 Impact on Vinyl Composition Tile (VCT) Flooring Market
- On January 30, 2024, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the VCT flooring market.
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Asia Pacific to Dominate Vinyl Composition Tile (VCT) Flooring Market
- In terms of region, the global VCT flooring market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the VCT flooring market in 2024. This trend is anticipated to continue during the forecast period owing to the rise in urbanization and industrialization. China, ASEAN, and India are likely to provide lucrative opportunities to VCT flooring manufacturers in Asia Pacific in the near future, due to growth in construction activities and increase in construction GDP index in the region.
- The VCT flooring market in North America and Europe is anticipated to expand at a rapid pace owing to the increase in consumption of durable flooring products with features such as easy installation, water resistance, and stain resistance in these regions
Key Manufacturers Operating in Global Vinyl Composition Tile (VCT) Flooring Market
The global VCT flooring market was consolidated in 2024. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global VCT flooring market include:
- 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.
- Gerflor SAS
- IVC Group
Global Vinyl Composition Tile (VCT) Flooring Market: Research Scope
Global Vinyl Composition Tile (VCT) Flooring Market, by Product
- Single-layered VCT Flooring
- Multiple-layered VCT Flooring
Global Vinyl Composition Tile (VCT) Flooring Market, by Application
Global Vinyl Composition Tile (VCT) Flooring Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Companies in the Vinyl Composition Tile Flooring market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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