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Luxury Vinyl Tiles (LVT) Flooring Market: Rapid Growth, Key Trends, and Forecast from 2024 to 2029
Luxury Vinyl Tiles (LVT) Flooring Market
Robust growth, key trends, and future projections highlight the fast-expanding Luxury Vinyl Tiles (LVT) Flooring Market.
What Is The Projected Market Size Of The Global Luxury Vinyl Tiles (LVT) Flooring Market And Its Growth Rate?
The LVT flooring market has displayed significant growth and is projected to continue this trend. Key data points include:
• 2024 Market size: $26.01 billion
• 2025 Market size: $29.68 billion (14.1% CAGR)
• 2029 Market size: $48.92 billion (13.3% CAGR)
Growth is primarily powered by a residential renovation boom, commercial flooring solutions, and environmental sustainability during the past years. In the coming years, trends such as rising housing construction, e-commerce boom, and green building practices are expected to eventually dominate the market growth scene.
What Is Driving The Growth In The Luxury Vinyl Tiles (LVT) Flooring Market?
The Luxury Vinyl Tiles (LVT) Flooring Market has been thriving, owing in large part to the rapid expansion in the construction industry. LVT flooring is economical, efficient, and low-maintenance, making it a favored choice in construction. According to Invest India, the construction industry is predicted to approach a value of $1.4 trillion by 2025, potentially boosting the growth of the LVT flooring market.
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Who Are the Key Players Driving Luxury Vinyl Tiles (LVT) Flooring Market Growth?
• Tarkett SA
• Forbo Holding AG
• Armstrong World Industries Inc.
• Shaw Industries Inc.
• Global Flooring Group
• Interface Inc., Mannington Mills Inc.
• Mohawk Industries Inc.
• Parador GmbH
• Polyflor Ltd.
• Metroflor Corp., Milliken Co.
• LG Hausys Ltd., James Halstead plc
• Beauflor USA LLC
• Congoleum Corporation
• EarthWerks vinyl flooring company, Forbo Holding AG
• IVC US Inc.
• Karndean Designflooring USA
• Moduleo Group
• Roppe Holding Company
• The Dixie Group Inc.
• The Stonhard Group
• Toli Corporation
• Torlys Inc.
• USFloors Inc.
• Välinge Innovation AB
• Vifloor Canada Ltd.
• Vinylasa Inc.
• Wonderfloor
• World Class Industries Ltd.
• Zhejiang Kingdom Decorative Material Co. Ltd.
• Zhejiang Yihua Plastics Co. Ltd.
• Zibo Piton Industry Co. Ltd.
What Are The Key Trends In The Luxury Vinyl Tiles (LVT) Flooring Market?
Key trends in the forecast period include:
• Demand for sustainable materials
• Infrastructure modernization
• Digital printing technology
• Smart flooring integration
• Rapid installation methods
What Are The Segments Of The Global Luxury Vinyl Tiles (LVT) Flooring Market?
• By Type: Rigid Luxury Vinyl Tiles (LVT), Flexible Luxury Vinyl Tiles (LVT)
• By Construction Type: New Construction, Renovation
• By End-User: Residential, Non-Residential
Which Region Leads The Luxury Vinyl Tiles (LVT) Flooring Market?
Asia-Pacific led the luxury vinyl tiles (LVT) flooring market share in 2024 and is expected to continue its leading trend in the forecast period. The market covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Luxury Vinyl Tiles (LVT) Flooring Market Global Market Report?
- Market Size Analysis: Analyze the Luxury Vinyl Tiles (LVT) Flooring Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Luxury Vinyl Tiles (LVT) Flooring Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Luxury Vinyl Tiles (LVT) Flooring Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Luxury Vinyl Tiles (LVT) Flooring Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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The Business Research Company
Europe: +44 207 1930 708
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Americas: +1 315 623 0293
Email: info@tbrc.info
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Learn More About The Business Research Company:
Fabled for offering comprehensive, data-rich research and insights, The Business Research Company is home to data from 27 industries covering 60+ geographies. Alongside in-depth secondary research, our unique insights from industry behemoths ensure you stay ahead. Our prized offering, the Global Market Model, is a premier market intelligence platform that offers the most recent and comprehensive forecasts, backing your informed decision-making.
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