Why Is Vinyl the Fastest Growing Flooring Material?
Why Is Vinyl Flooring The Fastest Growing Material?
Vinyl Flooring Features Durability, Low Maintenance and Numerous Design Possibilities
Out of all of the different segments in the floor covering industry today, vinyl flooring without a doubt has proven to be the most popular — even among industry standards like ceramic tile, plank wood, engineered wood and laminate flooring.
Last year alone, vinyl brought in $2.2 billion, a sales increase of 8.5% from 2012 and 12% from 2011. It also continues to supplant itself as among the leaders in the overall $18 billion flooring industry, trailing only carpet in terms of market share, according to a report from Floor Covering News.
Also known as resilient flooring, vinyl has earned its reputation as the venerable flooring system for a host of reasons. Here are a few of them:
Luxury Vinyl Tile (LVT) is Leading the Way
As one of the many subcategories of vinyl flooring (vinyl flooring is available in sheets, tiles and planks), LVT takes up a substantial piece of the overall vinyl flooring pie with $949 million — or 43% of the entire resilient flooring category. This is because LVT is user friendly, meaning it’s easy to install and can be laid on any formation. LVT in particular contains more vinyl, which in turns creates a better-performing flooring system that appears more realistic.
Vinyl Flooring Popularity Heavily Linked to Real Estate Market
Another reason vinyl flooring manufacturers are so busy is because of the continual growth in both the commercial and residential housing markets. The residential markets in particular proved to be a major boon for vinyl flooring. According to the Floor Covering News, replacement flooring in the residential market made up nearly half (47.8%) of the vinyl flooring market. Commercial growth in various industries has also proven to help the vinyl flooring segment grow. More and more companies are turning to the durability and practicality of vinyl flooring products to outfit their headquarters or retail centers.
Vinyl Flooring is Family Friendly
Durable, low maintenance and easy on the budget, vinyl flooring is the perfect flooring solution for multi-family homes, apartments, townhouses or condominiums. This flooring works well with newly constructed homes for families with pets, kids and a tight budget. Durable because they can take a beating and still hold quality. Low maintenance because any spills or scuffs can be easily treated. Easy on the budget because let’s face it, vinyl flooring is not nearly as expensive as other flooring systems. Another reason vinyl flooring works well with multi-family construction is because of the design implications. Vinyl flooring is made to look as realistic as possible. Its design possibilities are endless.