◆英語タイトル：China Luxury Vinyl Tile (LVT) Market- Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The China luxury vinyl tile (LVT) market is expected to witness strong growth during the forecast period by growing at a CAGR of more than 9% during 2021-2026 .
COVID-19 has shaken Chinese economy and changed market scenario. It has negatively impacted the Chinese LVT market. Accordingly, this segment has took take the greatest hit in 2020. There was some concern that transactions would be halted due to manufacturing industries shutting down due to Coronavirus and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
The China LVT market demand is dominated by the real estate and construction industries, of which the proportion of residential housing demand for the flooring industry is relatively prominent. The demand for flooring in the renovation of commercial houses, new houses, old houses, and second-hand houses has been steadily increasing. In particular, the growth of secondary decoration and improved housing is conducive to the good growth of the Chinese high-end flooring market. Apart from this, rising technological advancements in the manufacturing process have also led to a growth in the vinyl flooring market in terms of performance, installation, and design. The Chinese LVT industry is growing at a rate of more than 14% per year.
Since the market share is booming and LVT is replacing laminated flooring at high speed, the vinyl plank was in shortage. Thus, a lot of new players in China ventured into new plants and factories focusing on this new area. The huge worldwide demand is there so more manufacturers do not make it crowded on the arena. The development of the Chinese real estate industry continues to rise, and the demand for LVT flooring in the future development of the national economy may be strongly driven. The continuous development of the real estate industry and the increasing acceptance of flooring’s aesthetic needs are likely to boost demand for LVT flooring in China during the forecast period.
Key Market Trends
China is One of the Biggest LVT Exporters to Europe and Americas
There are a lot of LVT flooring in European and American markets which are made in China and have been selling in the global market with outstanding performance. The British company Karndean is also made in China. China’s prominence in LVT production is not likely to change significantly in the coming years, though domestic production will become a bigger part of the overall picture. However, there are also some good LVT Flooring Companies in China. According to Market Insights LLC, only 10% of the LVT consumed in the U.S. is produced domestically, and virtually all rigid LVT (WPC and SPC) is made overseas. Currently, rigid LVT accounts for 62% of US sales. China not only makes almost all the world’s supply of rigid LVT, but it also makes the bulk of flexible LVT. And if there’s an LVT, rigid or otherwise, with a click system coming from an Asian manufacturer, it’s probably coming from China. In 2017, China shipped over USD 500 billion in manufactured goods of all types to the U.S. In return, the U.S. shipped USD 130 billion in manufactured goods to China. Flooring made in China and shipped to the U.S. in 2017 represented USD 2.6 billion at landed duty value, or 45% of all US flooring imports. Conversely, in 2017, exports of flooring from the U.S. to China were valued at USD 26 million. About 79% of the U.S. LVT market is imported from China. Additionally, virtually all rigid LVT comes from China, and rigid LVT (SPC & WPC) comprised 73% of the U.S. LVT market in 2017. On January 1, 2019, imposed tariffs are scheduled to rise from 10% to 25% and could be expanded to an additional USD 267 billion worth of imports. If China chooses to retaliate against US agricultural products shipped to China, the U.S. reserves the right to impose a 25% tariff on all USD 500 billion of Chinese imports.
Manufacturer Owned Stores are the Most Preferred Distribution Channel
In China, flooring can be purchased from retail stores and even the internet, but there are no buying groups or home centers promoting flooring. The majority of retail stores are owned by flooring manufacturers who also install and service the floor. The retail channel in China is very fragmented, with the 50 largest retailers accounting for less than 5% of the total market.
When it comes to purchasing flooring, there are a number of retail options available in the country. A major factor affecting where flooring is purchased is that flooring is considered a building material, not a home decoration, and is often grouped with plumbing fixtures and lighting. Flooring manufacturer-owned stores and home products/design malls are the largest retail outlets for flooring in China. Manufacturer stores can be stand-alone units or showrooms located within large, multi-story structures where other home products, such as plumbing and lighting fixtures, are sold. These are the most preferred channels for the purchase of flooring products in the country.
The report covers major international players operating in the China Luxury Vinyl Tile (LVT) market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By End User
5.3 By Distribution Channel
5.3.1 Manufacturer Owned Stores
5.3.2 Speciality Stores
5.3.3 Online Stores
5.3.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Forbo Flooring Systems
6.1.2 Zhejiang Kingdom Plastics Industry Co., Ltd
6.1.3 Protex Flooring
6.1.4 Xin Flooring
6.1.6 Shanghai 3C Industry Co. Ltd.
6.1.7 Jiangsu Taide Decoration Materials co., Ltd
6.1.8 Eco Home
6.1.9 Chiping Xinlida New Decoration Materials Co., Ltd
6.1.10 Yalong Flooring
6.1.11 Jiangsu Zhengyoung Flooring Decoration Materials co., Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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