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Luxury Vinyl Tiles (LVT) Flooring Market Size, Industry Trends, Growth Drivers, Key Segments 2023 To 2032
Luxury Vinyl Tiles (LVT) Flooring Market
The Business Research Company's Luxury Vinyl Tiles (LVT) Flooring Global Market Report 2023 identifies high growth of the construction industry as the major driver for the Luxury Vinyl Tiles (LVT) Flooring market's growth in the forecast period. Luxury vinyl flooring is economical and more efficient than other floorings currently available in the market, and additional factors of LVT such as cost-efficient, lightweight, and the requirement of low maintenance make them an ideal choice for flooring in the construction sector.
The global luxury vinyl tiles (lvt) flooring market size grew from $20.08 billion in 2022 to $23.06 billion in 2023 at a compound annual growth rate (CAGR) of 14.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global luxury vinyl tiles (lvt) flooring market is expected to grow to $40.31 billion in 2027 at a CAGR of 15.0%.
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Major competitors in the Luxury Vinyl Tiles (LVT) Flooring market are Tarkett, Forbo, Armstrong, Shaw Industries, Inc., Gerflor, Interface, Mannington Mills, Inc., Mohawk Industries, Parador GmbH, Polyflor.
A key trend in the Luxury Vinyl Tiles (LVT) Flooring market includes product innovations. The key players in the luxury vinyl titles flooring are focusing on developing innovative products with advanced technologies to reciprocate natural materials in the products with greater stability and ecological performance. For instance, in 2021, Tarkett, a company operating in the luxury vinyl tiles flooring market-based in France, launched a luxury vinyl tile collection called ID Inspiration that emulates natural materials such as wood and stone. It is intended for use in hospitality, education, residential, retail, and workplace interiors and is suitable for areas with moderate to high footfall.
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The Luxury Vinyl Tiles (LVT) Flooring market is segmented -
• By Type: Rigid Luxury Vinyl Tiles (LVT), Flexible Luxury Vinyl Tiles (LVT)
• By Construction Type: New Construction, Renovation
• By End-User: Residential, Non-Residential
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Luxury Vinyl Tiles (LVT) Flooring market.
The Business Research Company's "Global Luxury Vinyl Tiles (LVT) Flooring Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Luxury Vinyl Tiles (LVT) Flooring Market Include:
1. Executive Summary
2. Luxury Vinyl Tiles (LVT) Flooring Market Characteristics
3. Luxury Vinyl Tiles (LVT) Flooring Market Trends And Strategies
4. Luxury Vinyl Tiles (LVT) Flooring Market - Macro Economic Scenario
5. Luxury Vinyl Tiles (LVT) Flooring Market Size And Growth
…………………………………………………………………………….
26. Africa Luxury Vinyl Tiles (LVT) Flooring Market
27. Luxury Vinyl Tiles (LVT) Flooring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Luxury Vinyl Tiles (LVT) Flooring Market
29. Luxury Vinyl Tiles (LVT) Flooring Market Future Outlook and Potential Analysis
30. Appendix
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