Global Luxury Vinyl Tiles Market Size study, by Type (Rigid and Flexible), End use (Residential and Non-residential) and Regional Forecasts 2019-2026

Global Luxury Vinyl Tiles market is valued approximately USD 16.14 billion in 2018 and is anticipated to grow with a growth rate of more than 11.50% over the forecast period 2019-2026.

The Luxury vinyl tiles (LVT) are originally known as “hot pressed tiles” and made up of the several layers that are fused together under heat and pressure such as vinyl backing, vinyl core, print film layers and protective clear layers (wear layer). LVT replicate the look of the natural hard flooring such as wood and stone, without the maintenance and installation of expenses associated with it. Rising population & rapid urbanization, Rising in the number of renovation and remodeling activities and growing consumer interest towards interior decoration. Whereas, Volatile raw material prices and increasing environmental concern are the factors hampering the growth of market over the forecast years. However, rising demand for the emerging economies and growing investment in the construction industry is a lucrative growth opportunity for the growth of market. As per Statista, the spending in construction sector by United states was USD 992 billion in 2018 and expected to grow till USD 1.53 trillion by 2022. Whereas, in public sector in 2016 the spending in construction sector was USD 292 billion and increased up to USD 302 billion in 2018. Also, according to the Indian Brand Equity Foundation (IBEF), the real estate industry in India is expected to reach USD 1 trillion by 2030 from USD 120 billion in 2017 and contributed to the 13% of the country’s GDP by 2025. Additionally, as per the Nanyang Technology University (Singapore) Japan spending in construction sector in 2015 was USD 2.78 trillion and grown up to USD 2.83 trillion till 2016. Thus, the rising construction & real estate sector and enhancement in the application on PVC flooring in construction industries is an opportunity for the global LVT market.

The regional analysis of global Luxury Vinyl Tiles market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia pacific is the fastest growing region in the luxury vinyl tiles market in the forecast years owing to the increasing number of the remodeling and maintenance activities in the residential and non-residential construction sector. Also, the growing number of investments in the infrastructure and new housing units in the developing countries such as India, China and Japan of the Asia Pacific is also responsible for the growth of market in the upcoming years.

Market player included in this report are:

Mohawk Industries

Tarkett

Shaw industries group

LG Hausys

Forbo

Interface

Gerflor

Armstrong Flooring

Mannington Mills

The Dixie Group

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Rigid

Flexible

By End use:

Residential

Non-residential

By Regions:

North America

U.S.

Canada

Europe

UK

Germany

Asia Pacific

China

India

Japan

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017

Base year – 2018

Forecast period – 2019 to 2026

Target Audience of the Global Luxury Vinyl Tiles Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors