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Research Report on the Development Status and Investment Prospects of China's Elastic Flooring Industry (2024-2031)

Updated: Jul 3

Executive Summary

Elastic flooring, also known as resilient flooring, is a type of flooring that can deform under pressure and return to its original shape when the pressure is released. It is known for its durability, wear resistance, stain resistance, and slip resistance. Elastic flooring is widely used in various applications, including hospitals, schools, office buildings, shopping malls, transportation, industrial, residential, and sports facilities.


I. Industry Development Status

1. Market Size

The elastic flooring market in China has been experiencing steady growth since the 1980s due to its superior characteristics. In 2023, the market size reached over 500 million square meters.


Along with the growing acceptance of elastic flooring in the Chinese market, the market size is also expanding. Data shows that the market size of elastic flooring in China increased from 21.964 billion yuan to 33.612 billion yuan from 2019 to 2023, representing a growth of 11.65 billion yuan.

Year

Market Size (Billion Yuan)

2019

21.964

2020

25.398

2021

27.933

2022

30.244

2023

33.612

2. Supply Size

China's elastic flooring industry started relatively late, and domestic consumers' acceptance of elastic flooring is lower than in developed countries. Domestic production enterprises mainly provide ODM products for foreign flooring brands, traders, and building materials retailers. After years of operating experience, the experience of major domestic elastic flooring production enterprises in product design and production technology has been continuously improved, and their international competitiveness has been continuously strengthened. They are the main suppliers of the global elastic flooring market.


PVC flooring is the main type of elastic flooring in China. PVC flooring is the most common type of elastic flooring, made of polyvinyl chloride resin and calcium carbonate (PVC), and is cost-effective.


Elastic Flooring

In terms of production, in recent years, the steady growth of the domestic and foreign sales markets has driven the rapid development of China's PVC flooring industry, forming four major industrial bases in Beijing, Zhangjiagang, Shanghai, and Guangzhou. In 2023, China's PVC flooring production reached 1.203 billion square meters.


China's PVC flooring products are still mainly exported. With the increasing demand for PVC flooring in developed countries, China's total export value of PVC flooring has continued to increase. In the context of the continuous transfer of global PVC flooring production enterprises to developing countries, China's status in the international PVC flooring trade has continued to improve, gradually becoming the world's largest PVC flooring exporter. In 2021, China's PVC flooring export volume reached 572.74 million tons. In 2022 and 2023, affected by the macroeconomic environment, China's PVC flooring has declined, and it fell to 460.01 million tons in 2023.


China's PVC flooring export volume from 2019 to 2023 (10000 tons)
China's PVC flooring export volume from 2019 to 2023 (10000 tons)

In terms of export value, according to the data of China Customs, China's PVC flooring export value increased from 33.391 billion yuan in 2019 to 43.02 billion US dollars in 2021. Referring to historical data, the growth rate of China's PVC flooring exports remains at a high level.


3. Demand Size

The domestic penetration rate of elastic flooring is still low. Elastic flooring was introduced into China in the 1980s. Compared with developed countries and regions such as Europe and the United States, China's elastic flooring application market started late. Affected by traditional concepts, market promotion efforts and home decoration habits, the current popularity of elastic flooring in China is still far behind that of European and American countries.


Taking PVC flooring as an example, at present, PVC flooring in China is mainly used in the field of public facility decoration. PVC flooring production enterprises often only pay attention to large public facility decoration projects and do not pay enough attention to the market such as home decoration. They lack sufficient targeted promotion and publicity, resulting in Consumers lack an objective and rational understanding of PVC flooring. From the perspective of consumption, with the progress of China's elastic flooring industry in brand building and market promotion, many enterprises have begun to pay attention to brand building and market promotion work, and have increased their brand awareness and market share through means such as participating in exhibitions, advertising, and online marketing. In recent years, the consumption of PVC flooring in China has shown an upward trend. From 2019 to 2023, the consumption has increased from 357 million square meters to 527 million square meters.

Year

Consumption (Million Square Meters)

2019

357

2020

390

2021

429

2022

473

2023

527

In recent years, driven by factors such as urbanization, aging population, and the full implementation of the three-child policy, the demand for the construction of public places in education, elderly care, sports and health fields has continued to increase. Elastic flooring products have been widely used in the above-mentioned fields due to their convenient construction, environmental protection, waterproof and slip resistance. At the same time, they are gradually expanding to the home decoration market. In the future, with the stable development of China's real estate, early childhood education, elderly care industries, it will be conducive to the rapid growth of the demand for the elastic flooring market.


II. China's Elastic Flooring Market Analysis

1.Commercial Segment

The commercial segment encompasses a wide range of public building applications, including shopping malls, hotels, hospitals, office buildings, and sports venues. Elastic flooring has gained significant traction in China's commercial and public spaces, with its popularity evident in numerous shopping malls, hospitals, office buildings, schools, and hotels. However, in stark contrast, elastic flooring has yet to achieve widespread acceptance in the domestic home decoration market, where tiles and wooden floors remain the preferred choices for residential flooring.


Market Size:

In recent years, the demand for elastic flooring in commercial applications has witnessed a steady rise, driving the growth of China's elastic flooring industry. The market size for elastic flooring in the commercial segment reached 182.01 billion yuan in 2023, reflecting its increasing penetration rate.


2. Residential Segment

The residential segment primarily focuses on the application of elastic flooring in homes. Traditionally, Chinese residents have a limited perception of flooring materials suitable for home decoration, often confining their choices to tiles, wooden floors, or stone flooring. This mindset stems from the prevailing belief that these traditional flooring options are more natural, environmentally friendly, and healthier. These deeply ingrained perceptions are not likely to change rapidly, hindering the adoption of new flooring materials like elastic flooring among domestic consumers.

Market Size:

Despite the relatively low penetration rate of elastic flooring in the residential segment, the market has maintained a growth trajectory in recent years, driven by evolving consumer preferences and increasing awareness of environmental and health concerns. As consumers seek flooring solutions that are eco-friendly, healthy, safe, and durable, elastic flooring is gradually gaining recognition as a viable option. From 2019 to 2023, the market size for elastic flooring in the residential segment expanded from 100.55 billion yuan to 154.11 billion yuan.


III. Competitive Landscape

The current competitive landscape of China's elastic flooring industry can be broadly categorized into three tiers:


Tier 1: Global Brands

Dominating the top tier are established global brands such as Armstrong, Gerflor, Tarkett, Polyflor, and Forbo. These brands, primarily originating from Europe and the United States, have a long history, substantial market presence, and strong brand recognition. Their competitive advantages lie in their brand equity and economies of scale.


Tier 2: Domestic Major Players

The second tier comprises prominent domestic enterprises like Tianzhen, Qinli, Aili Home Furnishing, and Beixin Building Materials. These companies have experienced rapid growth in recent years, establishing a notable presence and market share within China. Additionally, they are actively expanding their international reach.


Tier 3: Domestic SMEs

The third tier consists of numerous small and medium-sized domestic enterprises. These companies generally have a smaller scale and face greater challenges in terms of competitiveness within the industry.


Market Concentration:

The concentration level of China's elastic flooring market is relatively low. This can be attributed to the evolving nature of the industry's market structure and the persistent traditional preferences among consumers. Ordinary consumers often favor established flooring options like tiles and conventional wooden floors. Moreover, the focus of many domestic elastic flooring companies lies in overseas markets. For instance, Tianzhen Shares and Haixiang New Materials export over 90% of their elastic flooring products, resulting in a relatively low domestic market share. According to Research, the CR4 concentration index for China's elastic flooring industry is estimated to be around 10%.


Conclusion:

China's elastic flooring industry presents a dynamic and promising landscape, with growth opportunities driven by rising demand in both commercial and residential segments. As consumer preferences evolve and environmental consciousness intensifies, elastic flooring is poised to gain further traction, particularly in the residential market. However, the industry remains relatively fragmented, with global brands holding a dominant position. Domestic players face the challenge of enhancing their brand recognition, expanding their product offerings, and strengthening their marketing strategies to capture a larger share of the growing market.

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