LUXURY VINYL TILES (LVT) FOCUS ON
Latest trends in vinyl include ‘open spaces’ and brighter colours within key end-use sectors such as hospitality, leisure and retail sectors, and a move to lighter shades with contrasting, richly-coloured focal points.
Within both the domestic and contract sector, vinyl can now replicate reclaimed/salvaged and vintage wood, stone and ceramic tile, in terms of both appearance and texture. This has increased its appeal, particularly since LVT is a resilient floorcovering that is both smooth and ‘warm’.
The ‘eco-friendly’ credentials for vinyl floorcoverings continue to be enhanced with new ranges typically containing some percentage of recycled content and may also be 100% recyclable through the existing Recofloor vinyl takeback scheme. Manufacturers are now also making use of renewable energy, and are involved in waste recycling and the minimisation of emissions to reduce the environmental impact throughout the supply chain.
Future Prospects
The outlook for vinyl flooring remains positive with interest in LVT and other sector-specific vinyls likely to underpin demand from both the domestic and contract sectors. LVT currently represents the fastest growing category in the flooring market. Activity and investment in the commercial construction sector is a key driver of growth in demand for vinyl flooring, and this has followed a generally positive path in 2016. As with all sectors, there is, however, an element of uncertainty in the post-Brexit market, in terms of both business confidence and future investment plans. Current forecasts, however, indicate steady annual growth rates of 3-5% in 2017-20 assuming that confidence and spending levels are not substantially affected by the prolonged withdrawal negotiations.
Future market growth should be underpinned by demand in the housing / home improvement market and higher penetration in the domestic sector – particularly for LVT ranges - as well as a rise in uptake in contract applications. A higher emphasis on safety and non-slip flooring, and higher specification requirements should also contribute, while higher import costs and raw material prices due to the fall in Sterling will also boost market value as suppliers pass on cost increases to some extent.
Extracted from the ‘Floorcoverings Market Report - UK 2016-2020 Analysis’
www.amaresearch.co.uk twitter.com/TRetailFloors Tomorrow’s Retail Floors | 23
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