Luxury Vinyl Tiles Market Research Report - Global Forecast 2027

Global Luxury Vinyl Tiles Market Information: by Type (Rigid and Flexible), by Application (Residential and Non-Residential) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2027

ID: MRFR/CO/6791-HCR | February 2021 | Region: Global | 107 pages

Please note that the assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill the sample form for updated data.

Market Synopsis: Global Luxury Vinyl Tiles Market


The global market for luxury vinyl tiles has been witnessing substantial growth in the past couple of years. The demand for luxury vinyl tiles is expected to be driven by the growing construction industry, rise in renovation and remodeling the and rising popularity of tiles. Globally, an increase in real estate investments have led to the growth of the construction industry. The factors such as a rise in construction of commercial buildings, such as commercial complexes, educational institutes, and offices raise the demand for luxury vinyl tiles in the global market. The growth in the number of housing projects across the globe will increase the demand for luxury vinyl tiles, globally. Factors such as increased expenditure on the remodeling and remodeling of construction activities are expected to lead to the market growth positively. Moreover, reforms and regulations introduced by governments in several countries for strengthening the growth of their infrastructure and real-estate industries, which leads to the growth of the construction industry and raise the demand for luxury vinyl tiles in the structure. With the improving standard of living, the consumers are inclined towards the better interior decoration and aesthetic enhancement, mainly for flooring, fueling the market of luxury vinyl tiles.


However, the rise in environmental concerns and the fluctuating raw materials prices might hamper the market growth. Rising consumer demand for luxury vinyl tiles from emerging economies is an opportunity for the market players.


The Global Luxury Vinyl Tiles Market is expected to witness a ~10.0% CAGR during the forecast period. The luxury vinyl tile flooring market size is expected to be valued at ~USD 32.0 billion by the end of the forecast period.


Regional Analysis: Global Luxury Vinyl Tiles Market


On the basis of region, the global luxury vinyl tile flooring market has been segmented as Europe, North America, Asia-Pacific, and the rest of the world. Asia-Pacific dominated the global for luxury vinyl tiles market, followed by North America. China, India, and other emerging countries have witnessed significant growth in the luxury vinyl tile market, due to the rising economy and rapid growth in industrialization. Furthermore, the region is regarded as one of the prominent producers and consumers of tiles across the globe.


Segmentation:


The global luxury vinyl flooring market has been segmented based on type and application. On the basis of type, the global market has been classified into rigid and flexible. The flexible segment held the largest market share of the global luxury vinyl tiles market in 2018 and is expected to witness the highest CAGR during the forecast period. The properties such as durability, flexibility, and ease of installation are some of the factors, which raise the demand for flexible luxury vinyl tiles in the global market.


On the basis of application, the global market has been segmented into residential and non-residential. The non-residential segment held the largest market share of the global luxury vinyl tile market in 2018 and is expected to witness the highest CAGR during the forecast period.


The Key Players operating in the global luxury vinyl tiles industry include Mohawk Industries (US), Shaw Industries Group, Inc., (US), Interface, Inc. (US), Tarkett (France), Gerflor (France), Mannington Mills, Inc.  (US), Armstrong Flooring, Inc. (US), Forbo Group (Switzerland), and James Halstead plc (UK).


The Dixie Group, Inc. (US), Responsive Industries Limited (India), Vinylasa (Mexico), Adore Floors, Inc. (US), Milliken & Company (US), and American Biltrite (Canada) Ltd. (Canada) are some of the other players operating in the global luxury vinyl tile market.


The global luxury vinyl tile (LVT) flooring market is fairly competitive with a moderate number of players, across the globe. The players are expected to adopt various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include focus on high quality product, cost-effectiveness, expansions, strategic partnerships, and collaborations with manufacturing companies.


Intended Audience:



  • Luxury vinyl tiles (LVT) manufacturers

  • Luxury vinyl tiles traders/distributers/suppliers

  • Manufacturers of raw materials

  • Architects & engineers

  • Regulatory bodies

  • Research organizations

  • Association and industry bodies

  • Interior designers

  • End consumers

  • Market research and consulting firms



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 32.0 Billion
  CAGR   10.0% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Mohawk Industries (US), Shaw Industries Group, Inc., (US), Interface, Inc. (US), Tarkett (France), Gerflor (France), Mannington Mills, Inc. (US), Armstrong Flooring, Inc. (US), Forbo Group (Switzerland), and James Halstead plc (UK).The Dixie Group, Inc. (US), Responsive Industries Limited (India), Vinylasa (Mexico), Adore Floors, Inc. (US), Milliken & Company (US), and American Biltrite (Canada) Ltd. (Canada)
  Key Market Opportunities   Rising consumer demand for luxury vinyl tiles from emerging economies
  Key Market Drivers   Increased expenditure on the remodeling and remodeling


Frequently Asked Questions (FAQ) :


Luxury vinyl tiles market is projected to grow at a 10.0% CAGR between 2019-2025.

Luxury vinyl tiles market is predicted to touch USD 32 billion by 2025.

The APAC region is expected to dominate the luxury vinyl tiles market.

The non-residential segment will lead the luxury vinyl tiles market.

Growing environmental concerns may limit the luxury vinyl tiles market growth.