Luxury Vinyl Tile Flooring Market: By Product, End-user Industry, and Geography
Luxury Vinyl Tile Flooring Market: By Product, End-user Industry, and Geography
Luxury Vinyl Tile (LVT) Flooring Market was valued at US$ 21,653.8 million in 2022 and is poised to grow at a CAGR of 8.3% over 2023-2029. Vinyl flooring is a type of completed flooring that is constructed mostly of a limestone base material blended with natural and synthetic polymer ingredients such as polyvinyl chloride and plasticizers. Based on product the global luxury vinyl tile (LVT) flooring market is segmented into the luxury vinyl tile and vinyl sheets & vinyl composite tile. Luxury vinyl tile segments account to hold the largest market share in the forecasting period owing to stylish, long-lasting durability and higher moisture resistance, customer shift towards interior design, renovation ad remolding to change the building appearance will boost the composition of LVTS in a residential and commercial building.
Moreover, players are focusing on launching new products into market. For instance, in June 2021, Armstrong Flooring launched three new luxury vinyl flooring collections, Biome, Terra, and Coalesce, and refreshed its homogeneous sheet collections, Med intones and Maintech. Each LVT product features a 2.5mm structure with a 20-mil wear layer and each sheet collection is engineered for infection control. An increase in demand for mounting residential and non-residential construction, remodeling & maintenance activities, and the high durability and enhanced aesthetic appearance of the LVTs are likely to underpin the demand for LVT flooring during the forecast period.
Study Period
2024-2030Base Year
2023CAGR
8.3%Largest Market
Asia-PacificFastest Growing Market
Asia-Pacific
The market is expected to offer lucrative opportunities due to an increase in the high standard of living and better opportunities to attract an extremely skilled workforce from around the world. Rising immigration increases the number of ex-pats living in the country. Thus, the demand for residential units and single houses & apartments is on the rise. Moreover, growing construction projects will fuel the demand over the forecast period. Furthermore, global luxury vinyl tile (LVT) flooring is environmentally friendly and provide improved indoor air quality (IAQ) performance. They are useful when low maintenance is required and easy to install. They provide extra cushioning to reduce the impact and gain a soft feel. This feature also has acoustic properties that absorb more noise than tiles, wood, and laminate. They are proven solutions for high, medium, and low traffic.
Asia-Pacific is expected to be the largest and fastest-growing luxury vinyl tiles (LVT) flooring market during the forecast period. Due to massive investment and a large number of construction activities in the infrastructure sector, as well as the presence of a large number of manufacturers in the region. Moreover, North America is also expected to surge the growth the need of enhancing commercial facilities, including office, hospitals, schooling is driving the market growth. Furthermore, demand for durable and easy-to-install floor covering supports the market growth in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 21,653.8 million |
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Market CAGR |
8.3% |
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By Product Type |
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By End User |
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By Region |
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The luxury vinyl tile flooring market size was valued at US$ 21,653.8 Million in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Karndean, Mannington Mills Inc., Milliken, TAJ Flooring, Forbo Holding, Berkshire Hathaway Inc.
| 1. Executive Summary |
| 2. Global Luxury Vinyl Tile (LVT) Flooring Market Introduction |
| 2.1. Global Luxury Vinyl Tile (LVT) Flooring Market Taxonomy |
| 2.2. Global Luxury Vinyl Tile (LVT) Flooring Market Definitions |
| 2.2.1. By Type |
| 2.2.2. By End User |
| 2.2.3. By Region |
| 3. Global Luxury Vinyl Tile (LVT) Flooring Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Luxury Vinyl Tile (LVT) Flooring Market Dynamic Factors - Impact Analysis |
| 3.6. Global Luxury Vinyl Tile (LVT) Flooring Market – Competition Landscape |
| 4. Global Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Luxury Vinyl Tile (LVT) Flooring Market, By Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Rigid |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Flexible |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Luxury Vinyl Tile (LVT) Flooring Market, By End User, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1. Residential |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Non-Residential |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Luxury Vinyl Tile (LVT) Flooring Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, End User, and Region, 2023 - 2029 |
| 8. North America Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. By Type Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Rigid |
| 8.1.2. Flexible |
| 8.2. End User Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Residential |
| 8.2.2. Non-Residential |
| 8.3. Country Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, End User, and Country, 2023 - 2029 |
| 8.5. North America Luxury Vinyl Tile (LVT) Flooring Market Dynamics – Trends |
| 9. Europe Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. Type Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Rigid |
| 9.1.2. Flexible |
| 9.2. End User Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Residential |
| 9.2.2. Non-Residential |
| 9.3. Country Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Rest of Europe |
| 9.4. Europe Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, End User, and Country, 2023 - 2029 |
| 9.5. Europe Luxury Vinyl Tile (LVT) Flooring Market Dynamics – Trends |
| 10. Asia-Pacific Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 10.1. Type Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Rigid |
| 10.1.2. Flexible |
| 10.2. End User Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Residential |
| 10.2.2. Non-Residential |
| 10.3. Country Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. China |
| 10.3.2. India |
| 10.3.3. Japan |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, End User, and Country, 2023 - 2029 |
| 10.5. Asia-Pacific Luxury Vinyl Tile (LVT) Flooring Market Dynamics – Trends |
| 11. Latin America Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Type Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Rigid |
| 11.1.2. Flexible |
| 11.2. End User Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Residential |
| 11.2.2. Non-Residential |
| 11.3. Country Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, End User, and Country, 2023 - 2029 |
| 11.5. Latin America Luxury Vinyl Tile (LVT) Flooring Market Dynamics – Trends |
| 12. Middle East and Africa Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Type Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Rigid |
| 12.1.2. Flexible |
| 12.2. End User Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Residential |
| 12.2.2. Non-Residential |
| 12.3. Country Analysis 2018 - 2022and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, End User, and Country, 2023 - 2029 |
| 12.5. MEA Luxury Vinyl Tile (LVT) Flooring Market Dynamics – Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Storage Type Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Karndean |
| 13.2.2. Mannington Mills Inc. |
| 13.2.3. Milliken |
| 13.2.4. TAJ Flooring |
| 13.2.5. Forbo Holding |
| 13.2.6. Berkshire Hathaway Inc. |
| 13.2.7. Tarkett |
| 13.2.8. Mohawk Industries Inc. |
| 13.2.9. Congoleum Corporation |
| 13.2.10. Zhangjiagang Elegant Plastics Co.Ltd. |
| 13.2.11. Armstrong World Industries Inc. |
| 13.2.12. CBC Flooring |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
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