In the current era of rapid development of globalization and technology, the PVC flooring industry is undergoing profound changes and ushering in many opportunities and challenges.
1. Changes in market demand
(I) Market size continues to grow
The global PVC flooring market is growing steadily, with a market size of US$42.7 billion in 2022 and is expected to further increase to US$48.471 billion in 2023. This growth is mainly due to the global economic recovery and the rise of emerging markets.
(II) Regional market characteristics
North American market: North America will account for the largest market share in 2023 and is expected to continue to dominate throughout the forecast period. The growth in the region can be attributed to the increasing demand for PVC flooring in residential and commercial buildings, which is driven by factors such as increased disposable income, urbanization, and the growing popularity of luxury vinyl tiles (LVT).
European market: Europe is expected to achieve stable growth due to the existence of mature markets and continued investment in infrastructure development.
Asia-Pacific market: Asia-Pacific is expected to show the highest growth rate during the forecast period due to rapid urbanization, population growth, and expansion of the construction industry in emerging economies such as China and India.
Other markets: Driven by increasing consumer awareness and government initiatives to promote sustainable building practices, South America and the Middle East and Africa are expected to contribute significant shares to the global market.
(III) Product application areas
PVC flooring has become a popular choice for flooring due to its durability, economy and easy maintenance. It is also waterproof and stain-resistant, making it ideal for use in areas with high traffic or humidity. The application areas of the global PVC flooring market are divided into flooring, wall and ceiling, among which flooring occupies a dominant market share and will account for more than 60% of global revenue by 2023.
2. Procurement strategy adjustment
(I) Select suppliers that meet market demand
Buyers should give priority to suppliers who can provide products that meet the trends of intelligence, health and environmental protection, and high quality. These suppliers usually have the ability to produce smart PVC flooring and environmentally friendly PVC flooring, and have passed relevant quality certifications.
(II) Focus on cost-effectiveness
Although the cost of smart and environmentally friendly PVC flooring may be high, it can bring greater economic benefits through long-term market competitiveness and brand image enhancement. Buyers need to find a balance between environmental compliance and cost control.
(III) Optimize supply chain management
Ensure the stability and transparency of the supply chain and select suppliers that meet environmental standards. Reduce transportation costs and carbon emissions by optimizing transportation and logistics, using low-emission vehicles and route optimization tools.
3. Product development direction
(I) Technological innovation
Support suppliers' investment in environmentally friendly materials and technological innovation to enhance the market competitiveness of products. For example, develop PVC floors with low VOC emissions, high wear resistance and anti-slip performance to meet consumers' needs for environmental protection and safety.
(II) Health and environmental protection
Develop more PVC floors with health and environmental protection functions, such as antibacterial and mildew-proof floors, to meet consumers' needs for healthy living.
(III) Beauty and diversity
Develop more beautiful and diverse PVC floors, such as intelligent temperature control, antibacterial and mildew-proof functions, to enhance consumers' use experience and satisfaction.
The global PVC flooring market is moving towards intelligence, health, environmental protection and high quality. Buyers need to pay close attention to market trends and changes in consumer demand, adjust procurement strategies, select suppliers that meet market demand, and support the research and development of innovative materials and product development. Through these measures, buyers can occupy a favorable position in the fierce market competition and achieve sustainable development.