Global Stone Plastic Composite Flooring Market, By Product (Non-Recycled PVC Type, Recycled PVC Type), Type (Professional Installation, DIY Installation), Marketing Channel (Online Channel, Traditional Marketing Channel (Offline)), Application (Commercial, Residential Use) – Industry Trends and Forecast to 2029
Market Analysis and Size
Stone Plastic Composite (SPC) flooring is becoming more and more popular because of its remarkably desirable features and traits. SPC is 100% waterproof and It’s also easy to maintain and clean. It has natural antibacterial properties, making it ideal for dentists’ offices, hospitals, clinics, childcare facilities, pet care centres and rental properties. SPC flooring can even lower maintenance costs for restaurants and hotels because it’s easy to clean and care for property.
Data Bridge Market Research analyses that the stone plastic composite flooring market was valued at USD 25.15 billion in 2021 and is expected to reach USD 61.04 billion by 2029, registering a CAGR of 11.72 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Market Definition
Stone plastic composite (SPC) flooring contains a resilient core layer, considered an upgrade of engineered wood flooring. It is offering a stable and stylish flooring solution. The combination normally makes this core of stabilisers, polyvinyl chloride, and natural limestone powder. It is made up of four different types of layers: a SPC layer, wear layer, vinyl layer, and often a pre-attached underlay. SPC is extremely resilient, dense and resistant to indentation and impact because of its high limestone concentration.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Non-Recycled PVC Type, Recycled PVC Type), Type (Professional Installation, DIY Installation), Marketing Channel (Online Channel, Traditional Marketing Channel (Offline)), Application (Commercial, Residential Use)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AFI Licensing LLC (US), CFL Holding Limited (US), ZHEJIANG OUFEI NEW MATERIAL CO.,LTD. (China), Xinghua Zhengfu Plastic Industry Co., Ltd (China), Tops flooring (US), Changzhou Lingdian Wood Co., Ltd. (China) Foshan NewBetter Building Materials Co.,Ltd (China), Muchsee Wood (Chuzhou) Co., Ltd (China), Jiangsu Zhengyoung Flooring Decoration Material Co., Ltd (China), DECNO GROUP LTD (US), Changzhou Aipu Decorative Materials Co., Ltd (China), Mannington Mills, Inc. (US), Mohawk Industries (US), ANJI TIANZHEN BAMBOO FLOORING CO. LTD (China), Kingdomflooring (US), ALSTONE (India), Simple Flooring Company (US), Welspun Flooring (India), Power Dekor Group Co., Ltd (China), Yestrong Incorporation Limited (China)
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Market Opportunities
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Stone Plastic Composite Flooring Market Dynamics
Drivers
- Usage in residential and commercial sector
Stone plastic composite (SPC) flooring is used in both commercial and residential sector because it provides an attractive and durable flooring option. It can be installed in any room of the house, office and other areas and it comes in a several of styles and colours to suit any taste. It is also provide an easy installation, low-maintenance, and long-lasting aesthetic look. These qualities make SPC flooring a popular best option for house, office, shopping malls, banks, showrooms, etc. and are expected to drive the market growth rate.
- Rise in demand due to their affordability
Stone plastic composite (SPC) flooring is more affordable than other hardwood flooring and yet it is also able to provide the similar natural wood-look effect. The installation of SPC flooring cost is also inexpensive. Consumer can even save up the labour cost by using DIY installation process. It is definitely an alternative option to expensive wood flooring.
- Increase in demand due to waterproof property
One of the biggest profits of choosing the stone plastic composite (SPC) flooring is that it is completely waterproof. Because of its rigid structure, PVC core layer, these planks can withstand spills and liquids unlike numerous of the flooring products that it mimics.
Opportunities
The increasing demand of the product because of their stain-resistance, anti-slippage, superior stability, fire-resistance, zero formaldehyde emissions, zero volatile organic compounds, and others, growing number of construction activities along with development of the construction across the globe create beneficial opportunities for the market, The easy availability of the rigid product as well as affordability are some of the other major and impactful factors which will expected to augment the growth of the stone plastic composite flooring market in upcoming years. increasing usages of the product for commercial and residential purposes along with increasing preferences of the consumer towards luxury product will further contribute by creating immense opportunities that will also led to the growth of the stone plastic composite (SPC) flooring market.
Restraints/ Challenges
However, it isn’t as environment friendly as some other flooring option and it does not add the significant value to the home. Due to these factors obstruct the demand of the SPC flooring in the market. Moreover, growing cases of injury along with increasing number of problems related to noise while walking on the floor will also expected to act as market restraints factor for the growth of the stone plastic composite flooring. Lack of awareness of stone plastic composite flooring among each person will become the biggest challenge for the growth of the stone plastic composite flooring market.
This stone plastic composite flooring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the stone plastic composite flooring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In August 2020, the Shaw industries group in U.S increase its SPC resilient flooring manufacturing by investing approximately USD 20 million.
- In June 2020, Korner Floor SPC was launched its new pattern which is synchronous structure- Oak Prestige, it is perfectly imitating by natural wood.
Global Stone Plastic Composite Flooring Market Scope
The stone plastic composite flooring market is segmented on the basis of products, type, marketing channel and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Non-Recycled PVC Type
- Recycled PVC Type
Type
- Professional Installation
- DIY Installation
Marketing Channel
- Online Channel
- Traditional Marketing Channel (Offline)
Application
- Commercial
- Residential Use
Stone Plastic Composite Flooring Market Regional Analysis/Insights
The stone plastic composite flooring market is analysed and market size insights and trends are provided by country, products, type and application as referenced above.
The countries covered in the stone plastic composite flooring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the stone plastic composite flooring market in terms of revenue and market share during the forecast period. This is due to the increasing demand for stone plastic composite flooring in this region. North America region leads the stone plastic composite flooring market because of the adoption of advanced technology along with prevalence of several manufacturers in this region
During the estimated period, Asia-Pacific is anticipated to be the fastest developing region due to the growth of the construction sector in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Stone Plastic Composite Flooring Market Share Analysis
The stone plastic composite flooring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to stone plastic composite flooring market.
Some of the major players operating in the stone plastic composite flooring market are:
- AFI Licensing LLC (US)
- CFL Holding Limited (US)
- ZHEJIANG OUFEI NEW MATERIAL CO., LTD. (China)
- Xinghua Zhengfu Plastic Industry Co., Ltd (China)
- Tops flooring (US)
- Changzhou Lingdian Wood Co., Ltd. (China)
- Foshan NewBetter Building Materials Co.,Ltd (China)
- Muchsee Wood (Chuzhou) Co., Ltd (China)
- Jiangsu Zhengyoung Flooring Decoration Material Co., Ltd (China)
- DECNO GROUP LTD (US)
- Changzhou Aipu Decorative Materials Co., Ltd (China)
- Mannington Mills, Inc. (US)
- Mohawk Industries (US)
- ANJI TIANZHEN BAMBOO FLOORING CO. LTD (China)
- Kingdomflooring (US), ALSTONE (India)
- Simple Flooring Company (US)
- Welspun Flooring (India)
- Power Dekor Group Co., Ltd (China)
- Yestrong Incorporation Limited (China)
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