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

Luxury Vinyl Tiles Market Synopsis

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.

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.

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

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