Luxury Vinyl Tiles and LVT Floorings Market size is estimated to be USD 12.5 Billion in 2024 and is expected to reach USD 19.8 Billion by 2033 at a CAGR of 6.5% from 2026 to 2033.
The global luxury vinyl tiles (LVT) and LVT floorings market was valued at approximately USD 24.6 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The demand for LVT flooring is driven by its durability, ease of maintenance, and aesthetic appeal, making it a popular choice in both residential and commercial spaces. North America held the largest market share in 2022, accounting for around 35% of the global market, with the U.S. contributing a significant portion of this share. Europe follows closely, with countries like Germany, the U.K., and France experiencing a high adoption rate due to the growing demand for sustainable and cost effective flooring solutions. The Asia Pacific region is expected to witness the fastest growth during the forecast period, driven by the increasing construction activities and urbanization in emerging markets like China and India.
The regional market analysis indicates a diverse range of opportunities across different regions. The North American market is expected to maintain its leadership position due to high consumer spending on home improvement and increasing renovation activities. Meanwhile, the Asia Pacific market presents lucrative opportunities due to rapid industrialization and increasing demand for affordable yet stylish flooring options. In Latin America, the market is expanding as consumer preferences shift towards more premium flooring solutions. The Middle East and Africa market is also showing potential, with increasing investments in infrastructure projects and residential developments. The global market for luxury vinyl tiles and LVT floorings is poised for significant expansion, driven by evolving consumer preferences and technological advancements in flooring products.
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Tarkett
Armstrong
Mannington Mills
NOX Corporation
LG Hausys
Congoleum
Mohawk
Gerflor
Forbo
Beaulieu
RiL
Metroflor
Milliken
Polyflor
Karndean
Parterre
Snmo LVT
Hailide New Material
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Luxury Vinyl Tiles and LVT Floorings Market
Rigid Luxury Vinyl Tiles
Flexible Luxury Vinyl Tiles
Luxury Vinyl Plank (LVP)
Luxury Vinyl Composite Tiles (LVCT)
Residential
Commercial
Below 2mm
2mm to 4mm
4mm to 6mm
Above 6mm
Online
Offline
Wood Finish
Stone Finish
Tile Finish
Custom Designs
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Luxury Vinyl Tiles and LVT Floorings Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Luxury Vinyl Tiles and LVT Floorings Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Luxury Vinyl Tiles and LVT Floorings Market, By Type
6. Global Luxury Vinyl Tiles and LVT Floorings Market, By Application
7. Global Luxury Vinyl Tiles and LVT Floorings Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Luxury Vinyl Tiles and LVT Floorings Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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