Global Stone Plastic Composite Flooring Market-Industry Trends and Forecast

Market Analysis and Size

Stone Plastic Composite (SPC) flooring is becoming more and more popular because of its remarkably desirable features and traits. SPC is 100% waterproof and It’s also easy to maintain and clean. It has natural antibacterial properties, making it ideal for dentists’ offices, hospitals, clinics, childcare facilities, pet care centres and rental properties. SPC flooring can even lower maintenance costs for restaurants and hotels because it’s easy to clean and care for property. The stone plastic composite flooring market was valued at USD 25.15 billion in 2021 and is expected to reach USD 61.04 billion by 2029, registering a CAGR of 11.72 % during the forecast period of 2022 to 2029.

Market Definition

Stone plastic composite (SPC) flooring contains a resilient core layer, considered an upgrade of engineered wood flooring. It is offering a stable and stylish flooring solution. The combination normally makes this core of stabilisers, polyvinyl chloride, and natural limestone powder. It is made up of four different types of layers: a SPC layer, wear layer, vinyl layer, and often a pre-attached underlay. SPC is extremely resilient, dense and resistant to indentation and impact because of its high limestone concentration.

Stone Plastic Composite Flooring Market Dynamics

Drivers

Usage in residential and commercial sector

Stone plastic composite (SPC) flooring is used in both commercial and residential sector because it provides an attractive and durable flooring option. It can be installed in any room of the house, office and other areas and it comes in a several of styles and colours to suit any taste. It is also provide an easy installation, low-maintenance, and long-lasting aesthetic look. These qualities make SPC flooring a popular best option for house, office, shopping malls, banks, showrooms, etc. and are expected to drive the market growth rate.

Rise in demand due to their affordability

Stone plastic composite (SPC) flooring is more affordable than other hardwood flooring and yet it is also able to provide the similar natural wood-look effect. The installation of SPC flooring cost is also inexpensive. Consumer can even save up the labour cost by using DIY installation process. It is definitely an alternative option to expensive wood flooring.

Increase in demand due to waterproof property

One of the biggest profits of choosing the stone plastic composite (SPC) flooring is that it is completely waterproof. Because of its rigid structure, PVC core layer, these planks can withstand spills and liquids unlike numerous of the flooring products that it mimics.

Opportunities

The increasing demand of the product because of their stain-resistance, anti-slippage, superior stability, fire-resistance, zero formaldehyde emissions, zero volatile organic compounds, and others, growing number of construction activities along with development of the construction across the globe create beneficial opportunities for the market, The easy availability of the rigid product as well as affordability are some of the other major and impactful factors which will expected to augment the growth of the stone plastic composite flooring market in upcoming years. increasing usages of the product for commercial and residential purposes along with increasing preferences of the consumer towards luxury product will further contribute by creating immense opportunities that will also led to the growth of the stone plastic composite (SPC) flooring market.

Restraints/ Challenges

However, it isn’t as environment friendly as some other flooring option and it does not add the significant value to the home. Due to these factors obstruct the demand of the SPC flooring in the market. Moreover, growing cases of injury along with increasing number of problems related to noise while walking on the floor will also expected to act as market restraints factor for the growth of the stone plastic composite flooring. Lack of awareness of stone plastic composite flooring among each person will become the biggest challenge for the growth of the stone plastic composite flooring market.

Product

Non-Recycled PVC Type

Recycled PVC Type

Type

Professional Installation

DIY Installation

Marketing Channel

Online Channel

Traditional Marketing Channel (Offline)

Application

Commercial

Residential Use

During the estimated period, Asia-Pacific is anticipated to be the fastest developing region due to the growth of the construction sector in this region.