Global Stone Plastic Composite (SPC) Flooring Market Is Estimated To Witness High Growth Owing
The global stone plastic composite (SPC) flooring market is estimated to be valued at US$ 3.64 billion in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stone plastic composite (SPC) flooring is a type of rigid vinyl flooring that is made by combining limestone powder and stabilizers with polyvinyl chloride (PVC). SPC flooring offers a variety of benefits such as high durability, water resistance, and ease of maintenance. These flooring solutions are widely used in residential as well as commercial applications, including offices, healthcare facilities, and retail spaces. The demand for SPC flooring is driven by its aesthetic appeal, as it replicates the look of natural stone or wood but at a lower cost.
Market Overview:
Stone plastic composite (SPC) flooring is a type of rigid vinyl flooring that is made by combining limestone powder and stabilizers with polyvinyl chloride (PVC). SPC flooring offers a variety of benefits such as high durability, water resistance, and ease of maintenance. These flooring solutions are widely used in residential as well as commercial applications, including offices, healthcare facilities, and retail spaces. The demand for SPC flooring is driven by its aesthetic appeal, as it replicates the look of natural stone or wood but at a lower cost.
The stone plastic composite (SPC) flooring market is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period 2023-2030. This growth can be attributed to increasing consumer preference for eco-friendly and durable flooring solutions, along with the rapid growth in the construction industry.
In terms of regional analysis, Asia Pacific is anticipated to be the fastest-growing and dominating region in the SPC flooring market. This can be attributed to rapid urbanization, increasing disposable incomes, and the booming construction industry in countries like China and India.
In terms of regional analysis, Asia Pacific is anticipated to be the fastest-growing and dominating region in the SPC flooring market. This can be attributed to rapid urbanization, increasing disposable incomes, and the booming construction industry in countries like China and India.
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