Luxury Vinyl Tiles (LVT) Flooring Market Scope

The global market for Luxury Vinyl Tiles (LVT) Flooring is projected to grow from USD 18.0 billion in 2019 to USD 31.8 billion by 2024, recording a CAGR of 11.7% from 2019 to 2024. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. This report contains 146 pages. Luxury Vinyl Tiles (LVT) Flooring Market report 2023 delivers a complete overview of crucial factors like drivers, limitations, major and current trends, specialized development, and unborn growth. Research report contains company analysis, size, share, profit and deals of the company, current advancements. Luxury Vinyl Tiles request analysis also focuses on the global crucial top assiduity players in the request, with details similar as company biographies, capacity, product, price, cost, profit.

Luxury Vinyl Tiles (LVT) Flooring Market Drivers

The luxury vinyl tile (LVT) flooring market is driven by a number of factors, including:

  1. Increasing demand for durable and low-maintenance flooring options:LVT flooring is known for its durability and resistance to wear and tear, making it a popular choice in high-traffic areas.
  2. Rising popularity of luxury vinyl flooring in residential and commercial applications:LVT flooring is being used in an increasing number of residential and commercial applications, such as homes, offices, and retail spaces.
  3. Innovations in design and technology:Advances in design and technology are allowing for the creation of more realistic and authentic-looking LVT flooring, which is driving consumer demand.
  4. Cost-effectiveness:LVT flooring is relatively inexpensive compared to other types of flooring such as hardwood and ceramic tile, making it a cost-effective option for many consumers.
  5. Growth in construction and renovation market:The construction and renovation market is growing globally, which is driving demand for flooring products, including LVT.

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Luxury Vinyl Tiles (LVT) Flooring Market Restraints

Some potential restraints for the luxury vinyl tile (LVT) flooring market include:

  1. High cost compared to other flooring options such as laminate or linoleum.
  2. Limited design options compared to natural materials such as hardwood or stone.
  3. Lack of durability in high traffic areas or in areas with heavy furniture.
  4. Difficulty in installation for DIY homeowners.
  5. Limited availability and recognition in some regions.
  6. Limited eco-friendliness and sustainability compared to natural materials.

Luxury Vinyl Tiles (LVT) Flooring Market Key Players

  • Mohawk Industries (US)
  • Tarkett (France)
  • Forbo (Switzerland)
  • Shaw Industries, Inc. (US)
  • Interface (US)
  • Armstrong Flooring (US)
  • Gerflor (France)
  • The Dixie Group (US)
  • Responsive Industries Ltd. (India)
  • Mannington Mills, Inc. (US) 

Luxury Vinyl Tiles (LVT) Flooring Market Segmentation 

Luxury Vinyl Tiles (LVT) flooring market can be segmented based on various factors such as type, end-use sector, and region.

On the basis of Type

  • Rigid
  • Flexible

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In terms of value and volume, the flexible segment is estimated to lead the luxury vinyl tiles (LVT) flooring market in 2019.

The flexible segment accounted for a larger share, on the basis of type, in the LVT flooring market as it is affordable and is installed in regions that have extreme weather conditions. It is a traditional glue-down flooring material that inherits several properties such as durability, flexibility, ease installation, and budget-friendly. The growth of the flexible segment remains high due to its properties, which makes it a preferred LVT flooring solution for the residential as well as commercial application. The flexible LVT flooring solutions are considered suitable for almost all applications such as residential and commercial.
On the basis of End-use Industry

  • Residential
  • Non-residential

In terms of volume, the residential segment leads the luxury vinyl tiles (LVT) flooring market in 2019.

Luxury vinyl tiles (LVT) enhances the aesthetic appeal of a building, along with properties such as durability, comfort, and protection from extreme weather conditions. These factors are also projected to drive the residential sector during the forecast period. In addition, the rise in housing renovations and maintenance is further projected to drive the demand for luxury vinyl tiles in the residential sector. The use of LVT flooring solutions in residential buildings also enhances the aesthetic appeal and provides durability and comfort.

On the basis of Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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The Asia Pacific region is projected to account for the largest share in the luxury vinyl tiles (LVT) flooring market during the forecast period

The Asia Pacific region is projected to dominate the luxury vinyl tiles (LVT) flooring market, in terms of both value and volume, during the forecast period. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector are projected to drive the luxury vinyl tiles (LVT) flooring market growth in the Asia Pacific region. In addition, increasing demand in countries such as China, Australia, India, Japan, Thailand, Vietnam, and Indonesia, due to the increasing growth opportunities in these countries has driven the market for LVT flooring.

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Regional Scope
           1.3.2 Periodization Considered
    1.4 Currency Considered
    1.5 Units Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 28)
    3.1 Introduction
    3.2 Luxury Vinyl Tiles (LVT) Flooring Market Scenario

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Luxury Vinyl Tiles (LVT) Flooring Market
    4.2 Asia Pacific: Vinyl Flooring Market, By Type and Country
    4.3 Luxury Vinyl Tiles (LVT) Flooring Market, By Type
    4.4 Vinyl Flooring Market, By End-Use Sector
    4.5 Luxury Vinyl Tiles (LVT) Flooring Market, By Country

5 Market Overview (Page No. - 34)

Continued...

Reasons for Buying this Report

  • This report provides pin-point analysis for changing competitive dynamics.
  • It provides a forward-looking perspective on different factors driving or restraining market growth
  • It provides a six-year forecast assessed based on how the market is predicted to grow
  • It helps in understanding the key product segments and their future
  • It provides pinpoint analysis of changing competition dynamics and keeps you ahead of competitors
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