Stone plastic composite flooring, officially known as "PVC sheet flooring", is a new type of high-quality and high-tech ground decoration material developed through research and development. It uses stone powder to form a solid base layer with high-density and high fiber network structure, and is covered with a super wear-resistant polymer PVC wear-resistant layer on the surface, processed through hundreds of processes.
Overview of Market Development
In recent years, with the increasing demand for high-quality and environmentally friendly building materials in the market, the stone plastic composite flooring market has developed rapidly. According to our research data, the estimated revenue of the global stone plastic composite flooring market in 2024 is $11.45 billion, an increase of 23.38% compared to 2023.
In the next few years, with the continuous development of downstream fields such as construction and home furnishings, the market for stone plastic composite flooring will continue to expand. By 2029, the global stone plastic composite flooring market revenue is expected to increase to $29.44 billion. The CAGR for 2024-2029 is estimated to be 20.79%.
Analysis of Market Competition Pattern
From the perspective of market competition, the concentration of the global stone plastic composite flooring market is low. Data shows that in 2023, the total revenue share of the stone plastic composite flooring market for the top 3 companies was 15.57%, and the total revenue share of the top 6 companies was only 26.69%. The top 3 companies were Taizhou Huali New Materials, Armstrong Flooring, and Zhangjiagang Yihua Plastics. In 2023, these three companies' revenue share of the global market for stone plastic composite flooring was 6.98%, 4.51%, and 4.08%, respectively.
Global Stone Plastic Composite (SPC) Flooring Market Revenue Forecast and Competition Pattern
Source: www.globalmarketmonitor.com
Segmented market analysis
From an application perspective, the market for stone plastic composite flooring can be divided into residential application and commercial application. Among them, residential application dominates, with an estimated market share of 90.24% in 2024.
From a regional perspective, the global stone plastic composite flooring market is mainly concentrated in North America, Europe, and the Asia Pacific region. The total revenue of the stone plastic composite flooring market in these three regions accounts for over 90% of the global total revenue. Among them, North America is the largest revenue market, with an expected market revenue share of 40.76% in 2024.
Global Stone Plastic Composite (SPC) Flooring Segment Market Revenue and Market Share Forecast in 2024
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Market Revenue (Billion USD)
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Market Share
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Segmented by Application
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Residential Application
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10.33
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90.24%
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Commercial Application
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1.12
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9.76%
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Segmented by Region
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North America
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4.67
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40.76%
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Europe
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3.69
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32.19%
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Asia Pacific
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2.24
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19.54%
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South America
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0.47
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4.12%
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Middle East & Africa
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0.38
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3.38%
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Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Stone Plastic Composite (SPC) Flooring Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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