Global Stone Plastic Composite Flooring Market (2021-2026) by Product Type, Application, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Stone Plastic Composite Flooring Market is estimated to be USD 25.15 Bn in 2021 and is expected to reach USD 42.96 Bn by 2026, growing at a CAGR of 11.3%.



Market Dynamics

The rise in urbanization and increasing residential and industrial building constructions are the major factors boosting the market globally. The increasing adoption of the stone plastic composite (SPC) flooring owing to its properties such as waterproof, fire-resistant, heat compatible, stain-resistant, zero volatile organic compounds, and no formaldehyde emission has fueled the market growth. In addition, government norms associated with formaldehyde emission are anticipated to propel market growth. In addition, a growing trend for contemporary and aesthetically appealing interiors is attracting the customer base. However, the hard texture of the flooring and low awareness among the customers is expected to hinder the market growth.

With technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new geographical markets.

Market Segmentation

The Global Stone Plastic Composite Flooring Market is segmented further based on Product Type, Application, and Geography.

By Product Type, the market is classified into DIY installation and professional installation. Amongst the two, the DIY installation segment is estimated to hold the highest market share during the forecast period.

By Application, the market is classified as commercial use and residential use. Amongst all, the commercial use segment is estimated to hold the highest market share during the forecast period.

By Geography, North America is projected to lead the market.

Recent Developments

1. Shaw industries group expand its SPC resilient flooring manufacturer in the U.S., by investing approximately $20 million - 21st August 2020.
2. Korner Floor SPC synchronous structure- Oak Prestige is the newest pattern, perfectly imitating natural wood. - 29th June 2020

Company Profiles

Some of the companies covered in this report Armstrong Flooring Inc, Decno Group ltd, CFL Holding Limited., Zhejiang Oufei New Material Co., Ltd, Xinghua Zhengfu Plastic Industry Co., Ltd, Zhejiang GIMIG Technology Co., Ltd, Chenxing Group Ltd, Hiking Group, Shanghai 3C Industry Co., Ltd, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Stone Plastic Composite Flooring Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains a competitive analysis using the Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market