COVID-19 Vaccine Impact on U.S. Resilient Flooring Market Size To Reach $65.2 Billion By 2027

U.S. Resilient Flooring Market Growth & Trends

The U.S. resilient flooring market size is expected to reach USD 65.2 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 15.2% in terms of revenue, during the forecast period. Increase in construction of single family dwellings, boosting the overall residential construction is expected to drive the market growth.

The technological advancements in the industry have resulted in the production of stable cores along with resilient flooring products having scratch and scuff resistance and noise mitigation properties. The advancements in printing technologies, such as digital printing, aid manufacturers to provide a variety of patterns along with realistic visuals such as tiles and woods.

The market is expected to witness internal threat of substitution, where polyvinyl chloride is anticipated to witness linoleum. The volatility of raw material prices, including polyvinyl chloride, which can be attributed to the fluctuations in crude oil prices is anticipated to impact the industry growth.

The market players focus mainly on innovation for developing eco-friendly, cost-effective, durable, and low-maintenance flooring solutions for a wide range of applications. Furthermore, majority of companies offer installation and post-installation services. Brand loyalty and brand recognition play an important role in boosting the company’s market share.

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U.S. Resilient Flooring Market Report

U.S. Resilient Flooring Market Report Highlights

• Luxury vinyl tiles are expected to witness the fastest growth from 2020 to 2027, registering a CAGR of 19.7%, on account of its high durability, flexibility, and sturdiness
• Rubber resilient flooring is expected to reach 21.7 million square meters by 2027, owing their waterproof and slip resistance properties, which make them suitable for harsh environments
• Non-residential sector is expected to witness fastest CAGR of 15.2% in terms of volume over the forecast period, due to ease of cleaning, sterilization, slip and water resistance associated with resilient flooring
• The market is under scrutiny by environmental agencies including EPA and REACH. Regulations in the industry are aimed at VOC emission levels to reduce their impact on the environment
• Key market players lay high emphasis on product availability, which includes extensive product portfolio, consistency of supply, and delivery schedule, which includes the ability to ship products promptly and meet the timelines