Luxury Vinyl Tiles Flooring Market Analysis and Global Forecast 2023-2033

$ 1,390.00$ 5,520.00

Luxury Vinyl Tiles Flooring Market Research Report: Information By Product Type (Rigid, Flexible, Others), By End-Users (Residential, Non-Residential, Others), and by Region — Forecast till 2033

Page: 161

Report Published on: November 8, 2024
$ 3,470.00
$ 5,520.00
$ 1,390.00
Report Code: EBI15369 Categories: ,
Description

Luxury Vinyl Tiles Flooring Market Overview

The Luxury Vinyl Tiles Flooring Market Size is expected to reach USD 36.87 Billion by 2033. The Luxury Vinyl Tiles Flooring Market industry size accounted for USD 18.14 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.87% from 2023 to 2033. The Luxury Vinyl Tiles (LVT) Flooring Market refers to the industry and commercial sector that involves the production, distribution, and sales of luxury vinyl tile (LVT) flooring products. LVT is a type of resilient flooring that mimics the look of natural materials like wood, stone, or ceramic, offering aesthetic appeal along with durability and ease of maintenance. This market includes various segments such as residential and commercial applications, different installation types (glue-down, floating, loose lay), and a range of designs and patterns.

Overall, the Luxury Vinyl Tiles (LVT) Flooring Market is characterized by continuous innovation and a strong focus on delivering high-quality, aesthetically pleasing, and durable flooring solutions to meet the diverse needs of residential and commercial consumers.

Global Luxury Vinyl Tiles Flooring Market Synopsis

Global Luxury Vinyl Tiles Flooring MarketCOVID-19 Impact Analysis

The COVID-19 pandemic had a significant impact on the Luxury Vinyl Tiles (LVT) Flooring Market. Lockdowns and restrictions led to temporary shutdowns of manufacturing plants, causing production delays and shortages of raw materials. Restrictions on transportation and movement affected the distribution of LVT products, leading to delays and increased shipping costs. As people spent more time at home, there was an increased interest in home improvement and renovation projects, boosting demand for residential LVT flooring. LVT’s ease of maintenance and durability became more appealing as hygiene and cleanliness gained importance. The commercial sector adapted to new norms, with an increased focus on flexible and modular spaces. LVT’s versatility made it a preferred choice for such environments. The pandemic accelerated the shift to online shopping, and many LVT flooring companies enhanced their digital presence and e-commerce capabilities. The pandemic heightened awareness of environmental sustainability, leading to a preference for eco-friendly and sustainable LVT products. As lockdown measures eased and economies started to recover, the LVT flooring market began to rebound. The recovery was supported by the resumption of construction projects and increased consumer spending on home renovations.

Luxury Vinyl Tiles Flooring Market Dynamics

The major factors that have impacted the growth of Luxury Vinyl Tiles Flooring Market are as follows:

Drivers:

Ø  Technological Advancements

Improvements in printing and manufacturing technologies have enhanced the realism and quality of LVT products, making them more attractive to consumers. Advances in product features, such as enhanced wear layers and better backing materials, increase the performance and appeal of LVT flooring. Increasing interest in home renovation and remodeling projects boosts demand for LVT flooring as a stylish and practical choice. Expanding commercial spaces, including offices, retail stores, and hospitality venues, drive the need for durable and attractive flooring solutions. Growing awareness of environmental issues leads to a preference for flooring products that are recyclable or made from sustainable materials. Many LVT manufacturers are focusing on eco-friendly practices and certifications.

Restraint:

  • Perception of Price Sensitivity and Durability Issues with Low-Quality Products

While LVT is cost-effective compared to natural materials, it may be perceived as less valuable compared to higher-end flooring options. This perception can affect its adoption in premium market segments. The market includes a range of LVT products with varying levels of durability and performance. Low-quality LVT products may suffer from issues like peeling, fading, or warping, which can affect consumer satisfaction and brand reputation.

Opportunity:

⮚      Sustainability and Eco-Friendly Products

Increasing emphasis on sustainability and eco-friendly building practices creates opportunities for LVT products with green certifications and low environmental impact. Innovations in recycling LVT materials and the development of more sustainable product options can appeal to environmentally conscious consumers. Expanding e-commerce capabilities and leveraging digital platforms for sales and marketing can reach a broader audience and drive growth. Utilizing virtual showrooms and online design tools can enhance the customer experience and streamline the purchasing process.

Luxury Vinyl Tiles Flooring Market Segment Overview

By Product Type

Global Luxury Vinyl Tiles Flooring Market Product Type AnalysisBased on Product Type, the market is segmented based on Rigid, Flexible and Others. The rigid segment dominated the market because rigid LVT is a popular choice for commercial and residential applications due to its durability and water resistance. Rigid LVT is a popular choice for commercial and residential applications. Rigid LVT is durable and water resistant. Rigid LVT is easy to install and maintain.

By End User

Based on End User, the market segment has been divided into Residential, Non-Residential and Others. The residential segment dominated the market because LVT is a popular choice for flooring in homes due to its durability, water resistance, and ease of maintenance. LVT is a popular choice for flooring in homes. LVT is durable and water resistant. LVT is easy to maintain.

Global Luxury Vinyl Tiles Flooring Market Regional Analysis

Based on region, the global Luxury Vinyl Tiles Flooring Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Luxury Vinyl Tiles Flooring Market followed by the Asia-Pacific and Europe regions.

Global Luxury Vinyl Tiles Flooring Market Regional AnalysisGlobal Luxury Vinyl Tiles Flooring North America Market

North America holds a dominant position in the Luxury Vinyl Tiles Flooring Market. The market in North America, particularly the U.S. and Canada, is robust due to high consumer demand for residential and commercial flooring solutions. LVT is popular in both new construction and renovation projects due to its durability, aesthetics, and ease of maintenance. High spending on home improvement projects and expansion in commercial real estate and office spaces.

Global Luxury Vinyl Tiles Flooring Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Luxury Vinyl Tiles Flooring Market industry. The fastest-growing region due to urbanization, economic development, and increasing construction activities. Significant variation in market maturity and preferences across countries like China, India, Japan, and Southeast Asia. Rapid urban development and expansion of residential and commercial spaces and increased disposable income leading to higher demand for quality flooring.

Competitive Landscape

The global Luxury Vinyl Tiles Flooring Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

  • Mohawk Industries
  • Tarkett
  • Shaw Industries Group Inc.
  • LG Hausys
  • Forbo
  • Gerflor
  • Interface
  • Armstrong Flooring
  • Mannington Mills Inc
  • The Dixie Group Inc.

Key Development

In March 2022, Tarkett has partnered with Squarefoot in India to launch a carpet recycling initiative. Tarkett will collect discarded carpet tiles from restoration sites and recycle both the backing and the yarn. The yarn is used to manufacture recycled paper bags, while the backing material is upcycled in the car and construction industries.

Scope of the Report

Global Luxury Vinyl Tiles Flooring Market, by Product Type
  • Rigid
  • Flexible
  • Others
Global Luxury Vinyl Tiles Flooring Market, by End User
  • Residential
  • Non-Residential
  • Others
Global Luxury Vinyl Tiles Flooring Market, by Region
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
    • Nordic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Indonesia
    • Austalia
    • Malaysia
    • India
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of Middle East & Africa

 

Parameters Indicators
Market Size 2033: $36.87 Billion
CAGR 6.87% CAGR (2023-2033)
Base year 2022
Forecast Period 2023-2033
Historical Data 2021
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations Product Type, End User
Geographies Covered North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors Mohawk Industries, Tarkett, Shaw Industries Group Inc., LG Hausys, Forbo, Gerflor, Interface, Armstrong Flooring, Mannington Mills Inc and The Dixie Group Inc
Key Market Opportunities • Sustainability and Eco-Friendly Products
• Online Sales and E-Commerce
Key Market Drivers • Technological Advancements
• Growth in Construction and Renovation Activities

REPORT CONTENT BRIEF:

  • High-level analysis of the current and future Luxury Vinyl Tiles Flooring Market trends and opportunities
  • Detailed analysis of current market drivers, restraining factors, and opportunities in the future
  • Luxury Vinyl Tiles Flooring Market historical market size for the year 2021, and forecast from 2023 to 2033
  • Luxury Vinyl Tiles Flooring Market share analysis at each product level
  • Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
  • Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
  • To identify and understand the various factors involved in the global Luxury Vinyl Tiles Flooring Market affected by the pandemic
  • To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

For more details mail us at

Ask a question / additional requirement

Frequently Asked Questions (FAQ)

The global Luxury Vinyl Tiles Flooring Market is growing at a CAGR of 6.87% over the next 10 years

Asia Pacific is expected to register the highest CAGR during 2023-2033

Mohawk Industries, Tarkett, Shaw Industries Group Inc., LG Hausys, Forbo, Gerflor, Interface, Armstrong Flooring, Mannington Mills Inc and The Dixie Group Inc are the major companies operating in the market.

Yes, we offer 16 hours of analyst support to solve the queries

Yes, we provide regional as well as country-level reports. Other than this we also provide a sectional report. Please get in contact with our sales representatives

Table of Content

Table of Content

Chapter 1.   Executive Summary

 

Chapter 2.   Scope Of The Study

                     2.1.   Market Definition

                     2.2.   Scope Of The Study

                               2.2.1.   Objectives of Report

 

Chapter 3.   Evolve BI Methodology

 

Chapter 4.   Market Insights and Trends

                     4.1.   Supply/ Value Chain Analysis

                     4.2.   Porter’s Five Forces Analysis

                               4.2.1.   Threat Of New Entrants

                               4.2.2.   Bargaining Power Of Buyers

                               4.2.3.   Bargaining Power Of Suppliers

                               4.2.4.   Threat Of Substitutes

                               4.2.5.   Industry Rivalry

                     4.3.   Impact of COVID-19 on Luxury Vinyl Tiles (LVT) Flooring Market

                               4.3.1.   Impact on Market Size

                               4.3.2.   End User Trend, Preferences, and Budget Impact

                               4.3.3.   Regulatory Framework/Government Policies

                               4.3.4.   Key Players Strategy to Tackle Negative Impact

                               4.3.5.   Opportunity Window

 

Chapter 5.   Market Dynamics

                     5.1.   Introduction

                     5.2.   DRO Analysis

                               5.2.1.   Drivers

                               5.2.2.   Restraints

                               5.2.3.   Opportunities

 

Chapter 6.   Global Luxury Vinyl Tiles (LVT) Flooring Market, By Product Type

                     6.1.   Introduction

                     6.2.   Rigid

                     6.3.   Flexible

                     6.3.   Others

 

Chapter 7.   Global Luxury Vinyl Tiles (LVT) Flooring Market, By End-Users

                     7.1.   Introduction

                     7.2.   Residential

                     7.3.   Non-residential

 

Chapter 8.   Global Luxury Vinyl Tiles (LVT) Flooring Market, By Region

                     8.1.   Introduction

                     8.2.   North America

                               8.2.1.   Introduction

                               8.2.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               8.2.3.   Market Size and Forecast, By Country, 2020 - 2028

                               8.2.4.   Market Size and Forecast, By Product Type, 2020 - 2028

                               8.2.5.   Market Size and Forecast, By End-Users, 2020 – 2028

                               8.2.6.   US

                                              8.2.6.1.   Introduction

                                              8.2.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.2.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.2.6.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.2.7.   Canada

                                              8.2.7.1.   Introduction

                                              8.2.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.2.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.2.7.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                     8.3.   Europe

                               8.3.1.   Introduction

                               8.3.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               8.3.3.   Market Size and Forecast, By Country, 2020 - 2028

                               8.3.4.   Market Size and Forecast, By Product Type, 2020 - 2028

                               8.3.5.   Market Size and Forecast, By End-Users, 2020 – 2028

                               8.3.6.   Germany

                                              8.3.6.1.   Introduction

                                              8.3.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.3.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.3.6.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.3.7.   France

                                              8.3.7.1.   Introduction

                                              8.3.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.3.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.3.7.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.3.8.   UK

                                              8.3.8.1.   Introduction

                                              8.3.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.3.8.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.3.8.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.3.9.   Italy

                                              8.3.9.1.   Introduction

                                              8.3.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.3.9.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.3.9.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.3.10.   Rest Of Europe

                                              8.3.10.1.   Introduction

                                              8.3.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.3.10.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.3.10.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                     8.4.   Asia-Pacific

                               8.4.1.   Introduction

                               8.4.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               8.4.3.   Market Size and Forecast, By Country, 2020 - 2028

                               8.4.4.   Market Size and Forecast, By Product Type, 2020 - 2028

                               8.4.5.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.4.6.   China

                                              8.4.6.1.   Introduction

                                              8.4.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.4.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.4.6.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.4.7.   India

                                              8.4.7.1.   Introduction

                                              8.4.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.4.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.4.7.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.4.8.   Japan

                                              8.4.8.1.   Introduction

                                              8.4.8.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.4.8.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.4.8.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.4.9.   South Korea

                                              8.4.9.1.   Introduction

                                              8.4.9.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.4.9.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.4.9.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.4.10.   Rest Of Asia-Pacific

                                              8.4.10.1.   Introduction

                                              8.4.10.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.4.10.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.4.10.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                     8.5.   Rest Of The World (RoW)

                               8.5.1.   Introduction

                               8.5.2.   Driving Factors, Opportunity Analyzed and Key Trends

                               8.5.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                               8.5.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.5.5.   Market Size and Forecast, By Region, 2020 - 2028

                               8.5.6.   South America

                                              8.5.6.1.   Introduction

                                              8.5.6.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.5.6.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.5.6.4.   Market Size and Forecast, By End-Users, 2020 - 2028

                               8.5.7.   Middle East and Africa

                                              8.5.7.1.   Introduction

                                              8.5.7.2.   Driving Factors, Opportunity Analyzed and Key Trends

                                              8.5.7.3.   Market Size and Forecast, By Product Type, 2020 - 2028

                                              8.5.7.4.   Market Size and Forecast, By End-Users, 2020 - 2028

 

Chapter 9.   Competitive Landscape

                     9.1.   Introduction

                     9.2.   Vendor Share Analysis, 2020/Key Players Positioning, 2020

 

Chapter 10.   Company Profiles

                     10.1.   Mohawk Industries

                               10.1.1.   Business Overview

                               10.1.2.   Financial Analysis

                               10.1.3.   Product Portfolio

                               10.1.4.   Recent Development and Strategies Adopted

                               10.1.5.   SWOT Analysis

                     10.2.   Tarkett

                               10.2.1.   Business Overview

                               10.2.2.   Financial Analysis

                               10.2.3.   Product Portfolio

                               10.2.4.   Recent Development and Strategies Adopted

                               10.2.5.   SWOT Analysis

                     10.3.   Shaw Industries Group, Inc.

                               10.3.1.   Business Overview

                               10.3.2.   Financial Analysis

                               10.3.3.   Product Portfolio

                               10.3.4.   Recent Development and Strategies Adopted

                               10.3.5.   SWOT Analysis

                     10.4.   LG Hausys

                               10.4.1.   Business Overview

                               10.4.2.   Financial Analysis

                               10.4.3.   Product Portfolio

                               10.4.4.   Recent Development and Strategies Adopted

                               10.4.5.   SWOT Analysis

                     10.5.   Forbo

                               10.5.1.   Business Overview

                               10.5.2.   Financial Analysis

                               10.5.3.   Product Portfolio

                               10.5.4.   Recent Development and Strategies Adopted

                               10.5.5.   SWOT Analysis

                     10.6.   Gerflor

                               10.6.1.   Business Overview

                               10.6.2.   Financial Analysis

                               10.6.3.   Product Portfolio

                               10.6.4.   Recent Development and Strategies Adopted

                               10.6.5.   SWOT Analysis

                     10.7.   Interface

                               10.7.1.   Business Overview

                               10.7.2.   Financial Analysis

                               10.7.3.   Product Portfolio

                               10.7.4.   Recent Development and Strategies Adopted

                               10.7.5.   SWOT Analysis

                     10.8.   Armstrong Flooring

                               10.8.1.   Business Overview

                               10.8.2.   Financial Analysis

                               10.8.3.   Product Portfolio

                               10.8.4.   Recent Development and Strategies Adopted

                               10.8.5.   SWOT Analysis

                     10.9.   Mannington Mills, Inc

                               10.9.1.   Business Overview

                               10.9.2.   Financial Analysis

                               10.9.3.   Product Portfolio

                               10.9.4.   Recent Development and Strategies Adopted

                               10.9.5.   SWOT Analysis

                     10.10.   The Dixie Group, Inc.

                               10.10.1.   Business Overview

                               10.10.2.   Financial Analysis

                               10.10.3.   Product Portfolio

                               10.10.4.   Recent Development and Strategies Adopted

                               10.10.5.   SWOT Analysis

 

Chapter 11.   Key Takeaways

Connect to Analyst

Connect to Analyst

Research Methodology

Research Methodology