Luxury Vinyl Tiles Market Size, Trends, Growth, Outlook and Forecast to 2025

Posted by Miller on December 12th, 2019

Global 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 2025

Market Synopsis: Global Luxury Vinyl Tiles Market

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.

The Key Players operating in the global market 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.

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.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.