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Report
Saudi Arabia Vinyl Flooring - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The Saudi Arabia Vinyl Flooring Market has generated a revenue of USD 253 million in the current year and is poised to grow at a CAGR of greater than 5.02% during the forecast period.
Vinyl has been a popular choice for its durability and wide range of styles for many years. Vinyl tile is a flooring material that is generally inexpensive, easy to install, and easy to maintain. Made primarily from polyvinyl chloride resins and plasticizers, these flooring tiles are waterproof and very durable.
The rising demand for low maintenance, cost-efficient, and lightweight construction materials in residential construction is likely to drive the market for vinyl floorings over the forecast period. Vinyl products are considered a cost-effective alternative for wood and carpet tiles and offer superior comfort, which is expected to further propel their demand during the forecast period. The vinyl flooring market has been very encouraging in the Kingdom of Saudi Arabia. These flooring materials are being imported from several countries, such as Belgium, China, the United States, Korea, and Slovenia.
The COVID-19 pandemic significantly impacted Saudi Arabia vinyl flooring market. With the implementation of lockdown measures and restrictions on construction activities, the demand for vinyl flooring experienced a decline. The disruption in the supply chain and logistical challenges also affected the availability of raw materials and hindered production. Also, the economic downturn and reduced consumer spending further dampened the market growth. However, as the situation improves and the vaccination efforts progress, the market is expected to recover gradually. The growing awareness of hygiene and cleanliness is likely to drive the demand for vinyl flooring, particularly in sectors such as healthcare and hospitality.
Saudi Arabia Vinyl Flooring Market Trends
Commercial Sector is Dominating the Market for Vinyl Flooring Products in Saudi Arabia
Due to their increased durability, strength, and low maintenance required, vinyl floorings are witnessing increased demand in commercial spaces, such as offices, shopping malls, resorts, and hotels. This strong growth in office, industrial, and retail construction activities is the major factor that contributes to the increase in demand for vinyl flooring.
In addition, due to its superior properties, such as water-resistant nature, ease of cleaning, and ability to improve indoor air quality, vinyl flooring is often the product of choice for flooring in much modern healthcare and educational infrastructures, which is further aiding the growth of the market. The Saudi Arabian government has invested in key infrastructure projects, such as the MRT metro rail line and airports, which are expected to fuel the market demand for flooring products, such as vinyl flooring products.
Luxury Vinyl Tiles is the Most Dominant Product Category
Vinyl sheet and luxury vinyl tiles are one of the most widely sold products in the vinyl flooring category in the Saudi Arabian market. LVT offers a wide range of designs, textures, and colors, allowing consumers to achieve the look of high-end flooring materials at a more affordable price. This versatility has made LVT popular among consumers who desire luxurious flooring options.
LVT is known for its durability and resistance to wear, stains, and scratches. This characteristic makes it suitable for high-traffic areas such as commercial spaces, offices, and residential applications. In Saudi Arabia, where there is a significant demand for robust flooring solutions, LVT has emerged as a preferred choice.
Moreover, in the GCC region, Saudi Arabia accounts for the highest market share in terms of sales of vinyl flooring products, especially for luxury vinyl tiles.
Saudi Arabia Vinyl Flooring Industry Overview
The Saudi Arabian vinyl flooring market is highly fragmented with the presence of players, such as Alsouriya, Forbo Flooring Systems, GerFlor Group, and KhalidSaad. The market players are expected to introduce products with low environmental impact and better durability to garner the attention of consumers. The players majorly compete on the basis of product quality and pricing.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Evolving Home Decor Concepts
4.2.2 Rapid Growth in Residential Buildings to Drive Market
4.3 Market Restraints
4.3.1 High Initial Cost
4.3.2 Limited Distribution Channels
4.4 Opportunities
4.4.1 Growing Construction and Real Estate Sectors
4.4.2 Modernization and Urbanization
4.5 Industry Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Buyers
4.6.2 Bargaining Power of Suppliers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Trends Shaping the Saudi Arabia Vinyl Flooring Market
4.8 Insights into Recent Developments in the Industry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Vinyl Sheet
5.1.2 Vinyl Composite Tile
5.1.3 Luxury Vinyl Tile
5.2 By End User
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Contractors
5.3.2 Specialty Stores
5.3.3 Home Centers
5.3.4 Online
5.3.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Competion Overview
6.2 Company Profiles
6.2.1 Forbo Flooring Systems
6.2.2 Polyflor
6.2.3 ArmStrong Flooring
6.2.4 Gerflor Group
6.2.5 KhalidSaad
6.2.6 PrimeFloor
6.2.7 AlSouriya
6.2.8 Highmoon Furniture
6.2.9 Toli Floor
6.2.10 Abdul Rahman Al Shareef Group
6.2.11 Al Souriya
6.2.12 Racine
6.2.13 Nesma Orbit*
7 ANALYST VIEW AND FUTURE OF THE MARKET
8 APPENDIX
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