Us Luxury Vinyl Tiles and LVT Floorings Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Luxury Vinyl Tiles and LVT Floorings Market was valued at USD 23.5 Billion in 2022 and is projected to reach USD 36.7 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The United States luxury vinyl tiles (LVT) and flooring market has experienced remarkable growth, driven by consumer demand for durable, cost-effective, and aesthetically pleasing flooring solutions. In 2024, the market was valued at approximately $3.78 billion and is projected to reach $5.24 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.6%.
Several factors contribute to this upward trajectory:
Cost-Effectiveness: LVT offers a budget-friendly alternative to traditional materials like hardwood and stone, with installation costs ranging from $2 to $8 per square foot, significantly lower than hardwood flooring, which can cost up to $20 per square foot.
Durability and Versatility: LVT is renowned for its resilience, being water-resistant and suitable for high-traffic areas, making it ideal for both residential and commercial applications.
Aesthetic Appeal: Advances in digital printing technology have enabled LVT to mimic the appearance of natural materials closely, offering consumers a wide array of design options.
In 2023, the U.S. saw the installation of approximately 850 million square feet of LVT flooring, with the residential sector accounting for 60% of this demand. The commercial segment is also expanding, growing at an annual rate of 6.5%. Notably, there was a 12% increase in demand for waterproof LVT in 2023, particularly in moisture-prone areas like bathrooms and kitchens.
Wood-look LVT remains the most popular choice, holding a 70% market share. The trend towards larger plank sizes has led to a 15% rise in the adoption of wide and long LVT formats. Additionally, rigid core LVT, known for its superior stability, experienced a 20% surge in demand.
However, the market faces challenges. A significant portion of LVT products, approximately 80% to 85%, are imported, primarily from China. This reliance on imports has been impacted by tariffs and supply chain disruptions, prompting manufacturers to explore domestic production options.
Environmental and health concerns have also been raised. Some consumers report issues such as peeling and lifting due to humidity, and potential health risks associated with certain chemicals used in LVT production. These concerns have led to a 25% growth in the development of sustainable LVT products, incorporating recycled content and bio-based materials.
Looking ahead, the U.S. LVT flooring market is poised for continued growth, driven by ongoing residential renovations, commercial construction projects, and consumer preferences for affordable, durable, and stylish flooring solutions. As the industry addresses environmental and health concerns, and as domestic production capabilities expand, the market is expected to evolve, offering even more innovative and sustainable products to meet diverse consumer needs.
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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
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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
Global (United States, Global 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
Global
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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