Stone Plastic Composite Flooring Market Report 2031
The Stone Plastic Composite Flooring Market is expected to register a CAGR of 8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by By Product Type (Regular Single Layer SPC, Regular Double Layer SPC, Embossed in Register Surface SPC, and Others). The report is also segmented based on Form (SPC Tiles, SPAC Planks, and Others) and Application (Residential, Commercial, and Others). The report scope covers 5 regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Stone Plastic Composite Flooring Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Stone Plastic Composite Flooring Market Segmentation
Product Type- Regular Single Layer SPC
- Regular Double Layer SPC
- Embossed in Register Surface SPC
- SPC Tiles
- SPAC Planks
- Residential
- Commercial
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Stone Plastic Composite Flooring Market Growth Drivers- Growing Demand for Durable, Low-Maintenance SPC Flooring: The main drivers of the stone plastic composite (SPC) flooring market are the increasing demand for durable, low-maintenance flooring. SPC flooring is ideal for the installation, cleaning, and maintenance in both residential and commercial sites where durable flooring is sought.
- SPC Flooring’s Superior Durability: SPC flooring is highly durable and possesses high resistance to wear and scratches, moisture, and stains. Therefore, it is highly preferred in both the residential and commercial segments, particularly in high-traffic areas such as kitchens, bathrooms, and commercial spaces. With the increasing number of consumers preferring long-lasting, low-maintenance solutions, SPC flooring is critically viewed through increased sales.
- DIY Home Renovations: DIY home improvement projects drive the popularity of SPC flooring further. It has a click-lock installation mechanism that makes it easy to install, even without professional help. This means that many people are continuing to renovate their homes and businesses, which is an additional pull factor for the SPC flooring market.
- Growing Demand for Eco-Friendly SPC Flooring: Such awareness and demand will stimulate supply, ultimately leading in turn to price reduction for SPC flooring with green features. Increasing adoption of eco-friendly variants is an emerging trend in the stone plastic composite (SPC) flooring. With growing environmental concerns regarding flooring, consumers and organizations are seeking forms of flooring that meet performance standards while having minimal environmental impact: SPC flooring innovation has sprung through green materials.
- Incorporating Recycled Materials into SPC Flooring: The trend is progressively into incorporating recycled materials such as post-consumer plastic and recycled stone dust in SPC flooring products. The advantages of these green "considerations" take care of the environmental footprint of flooring while keeping the traditional advantages of durability and aesthetic appeal in SPC products. This trend lies quite in line with the ever-increasing drive towards sustainability in construction interior design.
- Green Certifications and Rising Awareness: In addition, green certifications such as LEED ("Leadership in Energy and Environmental Design") have, in fact, been cleared to meet the requirements for use of eco-friendly flooring. These floors will be preferred as more and more consumers and businesses prefer sustainability from the consideration of sourcing. SPC flooring of this kind, therefore, will be gaining popularity with the rise of awareness. The trend is, therefore, expected to continue propelling the market upward due to increasing environmental awareness.
- Rising Demand for SPC Flooring in Commercial and High-Traffic Applications: Another new opportunity emerging for the stone plastic composite (SPC) flooring market is a ramp-up in demand related to commercial and high-traffic applications. SPC flooring makes it apt as long-lasting flooring required for businesses, retail spaces, hospitals, and educational institutions.
- SPC Flooring’s Durability and Aesthetic Appeal Drive Commercial Sector Adoption: SPC flooring can withstand heavy footfall, including spills and everyday wearing, while remaining visually appealing. It is excellent for scratch, dent, and moisture resistance. Because SPC flooring meets those needs well, it will continue to gain popularity among various commercial sectors as businesses try to find durable yet affordable facilities with low maintenance.
- Low-Maintenance and Sustainable SPC Flooring Meets Growing Commercial Demand: The demand was stimulated immensely due to the focus of commercial property users on low-maintenance, sustainable solutions. This is thus yet another opportunity for their innovation toward producing high-performance products. The market is fast growing for SPC flooring and augurs long-term potential for the SPC floor to grow into the material of choice for high-traffic, commercial environments.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Stone Plastic Composite Flooring Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Stone Plastic Composite Flooring Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Stone Plastic Composite Flooring Market is estimated to witness a CAGR of 8% from 2023 to 2031
Increasing demand for durable and low-maintenance flooring solutions is driving the market growth
Growing adoption of eco-friendly SPC flooring is one of the key trends for the market growth.
Shaw Industries Group Inc, AHF LLC, Mannington Mills Inc, Novalis, Beau Floor, Welspun Flooring, Anyway Floor, and Shandong New Stone New Material Co Ltd are among the leading players operating in the stone plastic composite flooring market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Based on geography, Asia Pacific is expected to register the fastest CAGR from 2023 to 2031.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Stone Plastic Composite Flooring Market - By Application
1.3.2 Stone Plastic Composite Flooring Market - By Region
1.3.2.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. STONE PLASTIC COMPOSITE FLOORING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. STONE PLASTIC COMPOSITE FLOORING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. STONE PLASTIC COMPOSITE FLOORING MARKET - GLOBAL MARKET ANALYSIS
6.1. STONE PLASTIC COMPOSITE FLOORING - GLOBAL MARKET OVERVIEW
6.2. STONE PLASTIC COMPOSITE FLOORING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. STONE PLASTIC COMPOSITE FLOORING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. RESIDENTIAL
7.3.1. Overview
7.3.2. Residential Market Forecast and Analysis
7.4. COMMERCIAL
7.4.1. Overview
7.4.2. Commercial Market Forecast and Analysis
8. STONE PLASTIC COMPOSITE FLOORING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America Stone Plastic Composite Flooring Market Overview
8.1.2 North America Stone Plastic Composite Flooring Market Forecasts and Analysis
8.1.3 North America Stone Plastic Composite Flooring Market Forecasts and Analysis - By Application
8.1.4 North America Stone Plastic Composite Flooring Market Forecasts and Analysis - By Countries
8.1.4.1 United States Stone Plastic Composite Flooring Market
8.1.4.1.1 United States Stone Plastic Composite Flooring Market by Application
8.1.4.2 Canada Stone Plastic Composite Flooring Market
8.1.4.2.1 Canada Stone Plastic Composite Flooring Market by Application
8.1.4.3 Mexico Stone Plastic Composite Flooring Market
8.1.4.3.1 Mexico Stone Plastic Composite Flooring Market by Application
8.2. EUROPE
8.2.1 Europe Stone Plastic Composite Flooring Market Overview
8.2.2 Europe Stone Plastic Composite Flooring Market Forecasts and Analysis
8.2.3 Europe Stone Plastic Composite Flooring Market Forecasts and Analysis - By Application
8.2.4 Europe Stone Plastic Composite Flooring Market Forecasts and Analysis - By Countries
8.2.4.1 Germany Stone Plastic Composite Flooring Market
8.2.4.1.1 Germany Stone Plastic Composite Flooring Market by Application
8.2.4.2 France Stone Plastic Composite Flooring Market
8.2.4.2.1 France Stone Plastic Composite Flooring Market by Application
8.2.4.3 Italy Stone Plastic Composite Flooring Market
8.2.4.3.1 Italy Stone Plastic Composite Flooring Market by Application
8.2.4.4 United Kingdom Stone Plastic Composite Flooring Market
8.2.4.4.1 United Kingdom Stone Plastic Composite Flooring Market by Application
8.2.4.5 Russia Stone Plastic Composite Flooring Market
8.2.4.5.1 Russia Stone Plastic Composite Flooring Market by Application
8.2.4.6 Rest of Europe Stone Plastic Composite Flooring Market
8.2.4.6.1 Rest of Europe Stone Plastic Composite Flooring Market by Application
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific Stone Plastic Composite Flooring Market Overview
8.3.2 Asia-Pacific Stone Plastic Composite Flooring Market Forecasts and Analysis
8.3.3 Asia-Pacific Stone Plastic Composite Flooring Market Forecasts and Analysis - By Application
8.3.4 Asia-Pacific Stone Plastic Composite Flooring Market Forecasts and Analysis - By Countries
8.3.4.1 Australia Stone Plastic Composite Flooring Market
8.3.4.1.1 Australia Stone Plastic Composite Flooring Market by Application
8.3.4.2 China Stone Plastic Composite Flooring Market
8.3.4.2.1 China Stone Plastic Composite Flooring Market by Application
8.3.4.3 India Stone Plastic Composite Flooring Market
8.3.4.3.1 India Stone Plastic Composite Flooring Market by Application
8.3.4.4 Japan Stone Plastic Composite Flooring Market
8.3.4.4.1 Japan Stone Plastic Composite Flooring Market by Application
8.3.4.5 South Korea Stone Plastic Composite Flooring Market
8.3.4.5.1 South Korea Stone Plastic Composite Flooring Market by Application
8.3.4.6 Rest of Asia-Pacific Stone Plastic Composite Flooring Market
8.3.4.6.1 Rest of Asia-Pacific Stone Plastic Composite Flooring Market by Application
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa Stone Plastic Composite Flooring Market Overview
8.4.2 Middle East and Africa Stone Plastic Composite Flooring Market Forecasts and Analysis
8.4.3 Middle East and Africa Stone Plastic Composite Flooring Market Forecasts and Analysis - By Application
8.4.4 Middle East and Africa Stone Plastic Composite Flooring Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa Stone Plastic Composite Flooring Market
8.4.4.1.1 South Africa Stone Plastic Composite Flooring Market by Application
8.4.4.2 Saudi Arabia Stone Plastic Composite Flooring Market
8.4.4.2.1 Saudi Arabia Stone Plastic Composite Flooring Market by Application
8.4.4.3 U.A.E Stone Plastic Composite Flooring Market
8.4.4.3.1 U.A.E Stone Plastic Composite Flooring Market by Application
8.4.4.4 Rest of Middle East and Africa Stone Plastic Composite Flooring Market
8.4.4.4.1 Rest of Middle East and Africa Stone Plastic Composite Flooring Market by Application
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America Stone Plastic Composite Flooring Market Overview
8.5.2 South and Central America Stone Plastic Composite Flooring Market Forecasts and Analysis
8.5.3 South and Central America Stone Plastic Composite Flooring Market Forecasts and Analysis - By Application
8.5.4 South and Central America Stone Plastic Composite Flooring Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil Stone Plastic Composite Flooring Market
8.5.4.1.1 Brazil Stone Plastic Composite Flooring Market by Application
8.5.4.2 Argentina Stone Plastic Composite Flooring Market
8.5.4.2.1 Argentina Stone Plastic Composite Flooring Market by Application
8.5.4.3 Rest of South and Central America Stone Plastic Composite Flooring Market
8.5.4.3.1 Rest of South and Central America Stone Plastic Composite Flooring Market by Application
9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
10. STONE PLASTIC COMPOSITE FLOORING MARKET, KEY COMPANY PROFILES
10.1. ARMSTRONG FLOORING INC
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. CFL FLOORING DENCO GROUP LTD
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. ZHEJIANG OUFEI NEW MATERIAL CO., LTD
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. XINGHUA ZHENGFU PLASTIC INDUSTRY CO., LTD
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. CHENXING
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. CHANGZHOU LINGDIAN WOOD CO., LTD
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. TOPS FLOORING
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. SHANGHAI 3C INDUSTRIAL CO LTD
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. JINING LUXING PLATES CO., LTD
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. FOSHAN NEWBETTER BUILDING MATERIALS CO., LTD
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments
11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS
1. Armstrong Flooring Inc
2. CFL flooring Denco group Ltd
3. Zhejiang Oufei New Material Co., Ltd
4. Xinghua Zhengfu Plastic Industry Co., Ltd
5. Chenxing
6. Changzhou Lingdian wood Co., Ltd
7. Tops Flooring
8. Shanghai 3C Industrial Co Ltd
9. Jining Luxing Plates Co., Ltd
10. Foshan NewBetter Building Materials Co., Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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