SPC Flooring Market Trends：the global SPC Flooring market size is projected to reach USD 6.39 billion by 2030

According to the new market research report “Global SPC Flooring Market Insights, Forecast to 2030”, published by QYResearch, the global SPC Flooring market size is projected to reach USD 6.39 billion by 2030, at a CAGR of 3.8% during the forecast period.

• Global SPC Flooring Market Size (US$ Million), 2019-2030

 

Source: QYResearch, "Global SPC Flooring Market Insights, Forecast to 2030”

 

 

• Global SPC Flooring Top 13Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)

 

Source: QYResearch, "Global SPC Flooring Market Insights, Forecast to 2030”

 

According to QYResearch Top Players Research Center, the global key manufacturers of SPC Flooring include CFL Flooring, Zhejiang Kingdom, Zhejiang Walrus New Material, Novalis, Mohawk, Zhejiang GIMIG Technology, Mannington Mills, Taizhou Huali New Materials, Snmo LVT, Taizhou Huali New Materials, etc. In 2023, the global top five players had a share approximately 23.0% in terms of revenue.

• SPC Flooring, Global Market Size, Split by Product Segment

 

Source: QYResearch, "Global SPC Flooring Market Insights, Forecast to 2030”

 

In terms of product type, currently Wood Grain Color SPC Flooring is the largest segment, hold a share of 83.2%.

• SPC Flooring, Global Market Size, Split by Application Segment

 

Source: QYResearch, "Global SPC Flooring Market Insights, Forecast to 2030”

 

In terms of product application, currently Residential Use is the largest segment, hold a share of 74.0%.

• SPC Flooring, Global Market Size, Split by Region

 

Source: QYResearch, "Global SPC Flooring Market Insights, Forecast to 2030”

 

Market Drivers:

In recent years, the LVT flooring market has continued to grow while the wooden flooring and carpet markets have been very sluggish. The underlying reason is the declining spending power of European and American consumers. It is expected that consumption downgrade will continue not only in Europe and the United States, but also in China for several years. The relatively affordable price of SPC flooring will make more consumers choose SPC flooring.

Restraint:

The IMF predicts that the world economy will continue to grow at a rate of 3.2% in 2024 and 2025, the same growth rate as in 2023. Economic growth in advanced economies will accelerate slightly, from 1.6% in 2023 to 1.7% in 2024 and 1.8% in 2025, but will be offset by a slight slowdown in growth in emerging market and developing economies. Offsetting this, the latter’s growth is expected to fall from 4.3% in 2023 to 4.2% in 2024 and 2025. The forecast for global economic growth five years from now is 3.1%, the lowest level in decades. In addition, the global political landscape continues to be turbulent, and the Russia-Ukraine conflict has profoundly affected the future geopolitical landscape of the world. There is a profound geopolitical background and historical origin behind the Russia-Ukraine conflict. It is the result of the combined effect of multiple factors such as history and culture, ethnic conflicts, geopolitics, and the game of great powers. The situation in the Middle East continues to deteriorate, and the global political landscape is increasingly fragmented.

Opportunity:

SPC flooring is being accepted by the markets of developing countries for its excellent product performance. Affected by the development trend of such industries in various regions and the penetration rate of stone plastic flooring products, it is expected that the penetration rate in developing regions will gradually increase.

 

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