Luxury Vinyl Tile (LVT) Floor Market By Type (Flexible Luxury Vinyl Tile (LVT) and Rigid Luxury Vinyl Tile (LVT)), By Application (Commercial Use and Residential Use), Industry Trends, Estimation & Forecast, 2020-2026

Global Luxury Vinyl Tile (LVT) Floor market is estimated to reach $31,582.0 million by 2026 with a CAGR of 10.4% from 2020 to 2026.
  • Market Overview

    Luxury vinyl flooring is designed to replicate the look and feel of solid hardwood or stone floors but is an affordable purchase option, unlike the two. The luxury vinyl flooring is waterproof and durable, often coming in multiple layers for added ease of maintenance. The luxury vinyl tile floors come in different patterns and intricate designs.

    Market Dynamics

    The rising residential construction and renovations in urban centers of living and increasing consumer demand for aesthetically pleasing interior flooring arrangements are the primary factors driving the market growth. The increasing demand for affordable yet high-end floor designs have led to the gradual shift in consumer preference towards luxury vinyl tiles, as they offer durable yet cost-friendly flooring options. The high ease of installation for luxury vinyl flooring makes it a hassle-free experience, while the presence of multiple layers reduces maintenance costs over the due course. The floors can easily adjust and accommodate for continued moisture, heavy footfall, and accidental spills, which makes cleaning and maintenance of floors a lot easy. The rapid increase in the number of home renovations and décor installations in urban cities to cater to the growing population shift would also influence the growth of the market during the forecast period. The easy installation of flooring options has also influenced high product adoption in newly constructed residential houses, instigating higher product demand. However, volatility in product pricing due to fluctuations in raw material availability might hamper the market growth. The levying of additional taxes and tariffs on shipping & transportation of raw materials might also act as barriers to the prospects of market growth. The rapid product interest in upper-middle-income households of emerging nations would provide lucrative opportunities for the market in the coming years. The pleasing aesthetics of luxury vinyl tiles have caught the attention of consumers with high disposable income and gradually increasing spending power, which would offer key vendors with new possibilities of product application and business expansion over the forecast period.

    Market Segmentation

    The global Luxury Vinyl Tile (LVT) Floor market is mainly classified based on Type and Application. Type is segmented into Flexible Luxury Vinyl Tile (LVT) and Rigid Luxury Vinyl Tile (LVT). By Application, the market is divided into Commercial Use and Residential Use.

    The Flexible Luxury Vinyl Tile (LVT) segment by Type holds a considerable share in terms of overall market value and volume owing to the higher degree of design versatility offered by the products. The rising consumer need for intricate designs and floor patterns would also influence the growth of the segment in the coming years.
    In terms of volume, the Residential Use segment by Application is poised to garner 366.9 Million Sq.m by 2026; growing at a CAGR of 10.1% during 2020-2026. The rise in the rate of urbanization and the increase in construction of new residential homes would influence the growth of the segment over the forecast period.

    Regional Analysis

    Based on geography, the global Luxury Vinyl Tile (LVT) Floor market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America. At the same time, the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
    Asia-Pacific is a leading region and holds a considerable share in terms of overall value and volume. The increasing demand for durable flooring options in emerging countries of the area and rising consumer interest in the affordable luxury vinyl tiles as a viable flooring panel has led to the growth of the regional market in recent times.

    Competitive landscape

    The Luxury Vinyl Tile (LVT) Floor market is moderately fragmented, with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The ability of local companies to cater to product installations and demand in remote areas has further intensified the market competitiveness.

    Key players operating in the Luxury Vinyl Tile (LVT) Floor industry include Tarkett S.A., Armstrong Flooring, Inc., Mannington Mills Inc., Mohawk Industries, Inc., Congoleum Corporation, Gerflor USA, Inc., Forbo Holding AG, Novalis Innovative Flooring, LG Hausys, Ltd., Karndean Designflooring, Shaw Industries Group, Inc., CFL Flooring (China) Co., Ltd., Beaulieu, NOX Corporation, and Metroflor Corporation.

    The rise in investments for extension of production capabilities and expansion of business opportunities through strategic collaborations are the primarily followed business strategies of the top players looking to consolidate market position over the forecast period.

    Luxury Vinyl Tile (LVT) Floor Market Key Segments:

    By Type
    • Flexible Luxury Vinyl Tile (LVT)
    • Rigid Luxury Vinyl Tile (LVT)

    By Application
    • Commercial Use
    • Residential Use

    Key Global Luxury Vinyl Tile (LVT) Floor Industry Players
    • Tarkett S.A.
    • Armstrong Flooring, Inc.
    • Mannington Mills Inc.
    • Mohawk Industries, Inc.
    • Congoleum Corporation
    • Gerflor USA, Inc.
    • Forbo Holding AG
    • Novalis Innovative Flooring
    • LG Hausys, Ltd.
    • Karndean Designflooring
    • Shaw Industries Group, Inc.
    • CFL Flooring (China) Co., Ltd.
    • Beaulieu
    • NOX Corporation
    • Metroflor Corporation

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  • Table of Content

    1. Market Introduction
    1.1. Executive Summary
    1.2. Market Definition
    1.3. Market Scope

    2. Research Methodology
    2.1. Primary Research
    2.2. Research Methodology
    2.3. Assumptions & Exclusions
    2.4. Secondary data sources

    3. Luxury Vinyl Tile (LVT) Floor Market Overview
    3.1. Report Segmentation & Scope
    3.2. Key Market Trend
    3.3. Drivers
    3.3.1. Rising residential construction and renovations in urban centers of living
    3.3.2. Increasing consumer demand for aesthetically pleasing interior flooring arrangements
    3.4. Restraints
    3.4.1. Volatility in product pricing due to fluctuations in raw material availability
    3.5. Opportunity
    3.5.1. Rapid product interest in upper-middle-income households of emerging nations
    3.6. Porter’s Five Forces Analysis
    3.6.1. Porter’s Five Forces Analysis
    3.7. Market Share Analysis

    4. Type Overview
    4.1. Introduction
    4.1.1. Market Size & Forecast
    4.2. Flexible Luxury Vinyl Tile (LVT)
    4.2.1. Market Size & Forecast
    4.3. Rigid Luxury Vinyl Tile (LVT)
    4.3.1. Market Size & Forecast

    5. Application Overview
    5.1. Introduction
    5.1.1. Market Size & Forecast
    5.2. Commercial Use
    5.2.1. Market Size & Forecast
    5.3. Residential Use
    5.3.1. Market Size & Forecast

    6. Luxury Vinyl Tile (LVT) Floor Market Regional Overview
    6.1. Introduction
    6.1.1. Market Size & Forecast
    6.2. North America Luxury Vinyl Tile (LVT) Floor Market
    6.2.1. North America Market Size & Forecast, By Country
    6.2.2. North America Market Size & Forecast, By Type
    6.2.3. North America Market Size & Forecast, By Application
    6.2.4. U.S.
    6.2.4.1. Market Size and Forecast
    6.2.5. Canada
    6.2.5.1. Market Size and Forecast
    6.2.6. Mexico
    6.2.6.1. Market Size and Forecast
    6.3. Europe Luxury Vinyl Tile (LVT) Floor Market
    6.3.1. Europe Market Size & Forecast, By Country
    6.3.2. Europe Market Size & Forecast, By Type
    6.3.3. Europe Market Size & Forecast, By Application
    6.3.4. Germany
    6.3.4.1. Market Size and Forecast
    6.3.5. France
    6.3.5.1. Market Size and Forecast
    6.3.6. UK
    6.3.6.1. Market Size and Forecast
    6.3.7. Italy
    6.3.7.1. Market Size and Forecast
    6.3.8. Russia
    6.3.8.1. Market Size and Forecast
    6.3.9. Rest of Europe
    6.3.9.1. Market Size and Forecast
    6.4. Asia-Pacific Luxury Vinyl Tile (LVT) Floor Market
    6.4.1. Asia-Pacific Market Size & Forecast, By Country
    6.4.2. Asia-Pacific Market Size & Forecast, By Type
    6.4.3. Asia-Pacific Market Size & Forecast, By Application
    6.4.4. Japan
    6.4.4.1. Market Size and Forecast
    6.4.5. China
    6.4.5.1. Market Size and Forecast
    6.4.6. Australia
    6.4.6.1. Market Size and Forecast
    6.4.7. India
    6.4.7.1. Market Size and Forecast
    6.4.8. South Korea
    6.4.8.1. Market Size and Forecast
    6.4.9. Rest of Asia-Pacific
    6.4.9.1. Market Size and Forecast
    6.5. South America Luxury Vinyl Tile (LVT) Floor Market
    6.5.1. South America Market Size & Forecast, By Country
    6.5.2. South America Market Size & Forecast, By Type
    6.5.3. South America Market Size & Forecast, By Application
    6.5.4. Brazil
    6.5.4.1. Market Size and Forecast
    6.5.5. Argentina
    6.5.5.1. Market Size and Forecast
    6.5.6. Rest of South America
    6.5.6.1. Market Size and Forecast
    6.6. Middle East & Africa Luxury Vinyl Tile (LVT) Floor Market
    6.6.1. Middle East & Africa Market Size & Forecast, By Country
    6.6.2. Middle East & Africa Market Size & Forecast, By Type
    6.6.3. Middle East & Africa Market Size & Forecast, By Application
    6.6.4. GCC Countries
    6.6.4.1. Market Size and Forecast
    6.6.5. Egypt
    6.6.5.1. Market Size and Forecast
    6.6.6. South Africa
    6.6.6.1. Market Size and Forecast
    6.6.7. Rest of Middle East & Africa
    6.6.7.1. Market Size and Forecast

    7. Company Profile
    7.1. Tarkett S.A.
    7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
    7.1.2. Tarkett S.A. Product Category, Application, and Specification
    7.1.3. Tarkett S.A. Financial Performance (2015-2019)
    7.1.4. Main Business/Business Overview
    7.2. Armstrong Flooring, Inc.
    7.3. Mannington Mills Inc.
    7.4. Mohawk Industries, Inc.
    7.5. Congoleum Corporation
    7.6. Gerflor USA, Inc.
    7.7. Forbo Holding AG
    7.8. Novalis Innovative Flooring
    7.9. LG Hausys, Ltd.
    7.10. Karndean Designflooring
    7.11. Shaw Industries Group, Inc.
    7.12. CFL Flooring (China) Co., Ltd.
    7.13. Beaulieu
    7.14. NOX Corporation
    7.15. Metroflor Corporation

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What Report Provides?

• Full in-depth analysis of the parent Industry
• Important changes in market and its dynamics
• Segmentation details of the market
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• Market share analysis
• Key strategies of major players
• Emerging segments and regional growth potential

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