The SPC flooring market in China is showing a rapid growth trend

There is enormous potential in the future driven by the increase in penetration rate and technological upgrades in the residential sector. The following is the core analysis:
1、 Market size and growth trend
1. Domestic market size
The scale of China's spc flooring industry has grown rapidly from 20 billion yuan in 2016 to 50 billion yuan in 2021. In 2022, due to the decline in real estate demand, the domestic application market size was 7.982 billion yuan (2.113 billion yuan for residential scenarios and 5.869 billion yuan for non residential scenarios).
The global market is expected to reach 880 million US dollars by 2030, with a compound annual growth rate of 3.2%.
2. Growth drivers
Performance advantages: wear-resistant, moisture-proof, environmentally friendly (zero formaldehyde), easy to install and other characteristics, replacing traditional wooden floors and tiles.
Policy support: The government promotes investment in green building materials and construction decoration industries, accelerating industry standardization.
Consumption upgrade: Young consumers prefer environmental protection and personalized design, driving the growth of home decoration demand.
2、 Competitive landscape and major enterprises
1. Market concentration
The top five global manufacturers (such as Zhejiang Feixue New Materials Co., Ltd.) hold a 23% share, and domestic enterprises are gradually expanding their market with cost and technological advantages.
2. Regional distribution
The non residential sector (shopping malls, hospitals, schools, etc.) has become popular, accounting for 73% of the domestic application market in 2022.
The insufficient penetration rate in the residential sector is mainly due to consumer cognitive biases (such as mistaking SPC for low-quality plastics) and limitations in the basic conditions of buildings.
3、 Challenges and Future Trends
1. Current challenges
Difficulties in promoting in the residential field: Poor quality PVC flooring leads to consumer misunderstandings, and some home decoration houses do not meet the basic standards.
Fluctuations in production costs: Fluctuations in raw material prices and real estate demand affect supply stability.
2. Future opportunities
Technological upgrade: Production process optimization (such as surface wear-resistant layer reaching over 8000 revolutions per minute) and diversified design (wood grain, stone grain, etc.) to enhance competitiveness.
Market sinking: Urbanization is advancing in cities below the second tier and rural areas, releasing incremental demand.
Global layout: Chinese manufacturers seize the European, American, and Asia Pacific markets with their cost-effectiveness advantages.