Luxury Vinyl Tile (LVT) market was valued at US$ 9193.1 million in 2022 and is anticipated to reach US$ 21300 million by 2029, witnessing a CAGR of 12.6% - Valuates reports

Luxury Vinyl Tile (LVT) market was valued at US$ 9193.1 million in 2022 and is anticipated to reach US$ 21300 million by 2029, witnessing a CAGR of 12.6% during the forecast period 2023-2029.

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LVT is an acronym for "luxury vinyl tile." It is a marketing term used by numerous companies to describe their vinyl flooring that is decoratively patterned to emulate the look of natural wood, granite or other types of flooring. There is no exact definition of the term, only generalities. It is not actually a separate category of tiling, simply a way of describing standard vinyl tiling that has been designed to match natural flooring.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Luxury Vinyl Tile (LVT) downstream is wide and the main application fields are residential and commercial use. Globally, residential use accounts for nearly 66.95% of total downstream consumption volume of Luxury Vinyl Tile (LVT) in global in 2019. According to the type, it can be divided into Loose-lay LVT, Dry-back LVT, SPC, WPC, etc. Dry-back LVT is the main product, capturing about 55.55% of global consumption of Luxury Vinyl Tile (LVT) in 2019. Today's industrial marketplace is increasingly competitive and requires the ability to reduce costs, raise production and increase accuracy for any business that is going to survive. For businesses that will truly thrive, the ability to lead development and get products to market faster is also critical.

This report aims to provide a comprehensive presentation of the global market for Luxury Vinyl Tile (LVT), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Luxury Vinyl Tile (LVT).
The Luxury Vinyl Tile (LVT) market size, estimations, and forecasts are provided in terms of output/shipments (K Sq.m.) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Luxury Vinyl Tile (LVT) market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Luxury Vinyl Tile (LVT) manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.

Segment by Type
Loose-lay LVT
Dry-back LVT
SPC
WPC
Others

Segment by Application
Commercial Use
Residential Use

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