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Key Trends Reshaping the Luxury Vinyl Tiles (LVT) Flooring Market: Leading Companies In The Luxury Vinyl Tiles (LVT) Market Focus On Premium Contour Designs To Elevate Aesthetics And Durability Industry Transformation
Luxury Vinyl Tiles (LVT) Flooring
Luxury Vinyl Tiles (LVT) Flooring Market Size Growth Forecast: What to Expect by 2025?
The market size for luxury vinyl tiles (lvt) flooring has experienced substantial growth in recent past. The market, which was worth $26.01 billion in 2024, is projected to increase to $29.4 billion in 2025, growing at a compound annual growth rate (CAGR) of 13.0%. Factors that have contributed to growth during the historic period include an upsurge in residential renovations, an increased demand for commercial flooring solutions, water and moisture resistance benefits, environmental sustainability, and adherence to health and safety standards.
How Will the Luxury Vinyl Tiles (LVT) Flooring Market Size Evolve and Grow by 2029?
The market size for luxury vinyl tiles (lvt) flooring is projected to experience swift expansion in the upcoming years, reaching a value of $47.89 billion in 2029 with a compound annual growth rate (CAGR) of 13.0%. The predicted increase during the forecast period can be credited to factors such as increased construction of homes, the surge in e-commerce, adoption of eco-friendly building methods, emphasis on wellness and biophilic design, and worldwide connectivity efforts, along with the demand for sustainable materials. Key trends likely to shape the forecast period include the need for sustainable materials, revamping infrastructures, adoption of digital printing technologies, integration of smart flooring, and swift installation techniques.
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What Drivers Are Propelling the Growth of Luxury Vinyl Tiles (LVT) Flooring Market Forward?
The expansion of the construction sector is predicted to boost the luxury vinyl tiles (LVT) flooring market. Luxury vinyl flooring, which is more economical and efficient than other flooring options on the market, has additional benefits such as being lightweight, cost-effective, and requiring low maintenance, making it a preferred flooring choice in the construction industry. For example, Invest India, a national investment promotion and facilitation agency based in India, forecasts the construction industry in India to be worth $1.4 trillion by 2025. Hence, the marked growth of the construction industry is a major driver for the luxury vinyl tiles flooring market.
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What Long-Term Trends Will Define the Future of the Luxury Vinyl Tiles (LVT) Flooring Market?
Prominent businesses in the luxury vinyl tiles (LVT) flooring industry are endeavoring to launch superior Contour luxury vinyl tiles. These are aimed at improving the look and resilience of upscale residential and commercial locales. Contour luxury vinyl tiles belong to an upscale segment of luxury vinyl flooring which brings intricate designs, textures, and shapes into play for mimicking the natural materials such as wood, stone, or ceramic. With a robust 32-mil wear layer, the LVT offers premium protection against dents, scratches, scuffs, and staining. For example, Tarkett S.A., a manufacturing giant from France, debuted True to Form, a fresh collection of its high-end Contour luxury vinyl tiles in May 2024. The collection comprises of 64 hues spanning exclusive wood and stone designs. True to Form Wood houses 40 timber hues in nine distinctive timber grain patterns, while True to Form Stone has 24 hues in six stone patterns, incorporating textures such as sandstone and travertine. True to Form makes use of Tarkett's Brilliance Digital Color System, which enables designers to visualize color probabilities in their spaces efficiently, preserve project boards, and order samples.
What Are the Key Segments in the Luxury Vinyl Tiles (LVT) Flooring Market?
The luxury vinyl tiles (LVT) flooring market covered in this report is segmented -
1) By Type: Rigid Luxury Vinyl Tiles (LVT), Flexible Luxury Vinyl Tiles (LVT)
2) By Construction Type: New Construction, Renovation
3) By End-User: Residential, Non-Residential
Subsegments:
1) By Rigid Luxury Vinyl Tiles (LVT): Stone Plastic Composite (SPC) LVT, Wood Plastic Composite (WPC) LVT
2) By Flexible Luxury Vinyl Tiles (LVT): Conventional Flexible LVT, Loose Lay LVT, Glue-Down LVT
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Who Are the Key Players Shaping the Luxury Vinyl Tiles (LVT) Flooring Market's Competitive Landscape?
Major companies operating in the luxury vinyl tiles (LVT) flooring market include 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, Halstead International plc, IVC US Inc., Karndean Designflooring USA, Moduleo Group, Novalis Innovative Flooring Inc., Responsive Industries Ltd., Roppe Holding Company, The Dixie Group Inc., The Stonhard Group, Toli Corporation, Torlys Inc., USFloors Inc., Välinge Innovation AB, Vifloor Canada Ltd., Vinylasa Inc., Wineo, Wonderfloor, World Class Industries Ltd., Zhejiang Kingdom Decorative Material Co. Ltd., Zhejiang Yihua Plastics Co. Ltd., Zibo Piton Industry Co. Ltd.
What Geographic Markets Are Powering Growth in the Luxury Vinyl Tiles (LVT) Flooring Market?
Asia-Pacific was the largest region in the luxury vinyl tiles (LVT) flooring market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury vinyl tiles (LVT) flooring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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