Global Luxury Vinyl Flooring (LVT) Market- Segment, outlook, By Region, Forecast 2022

Luxury Vinyl Floor or Vinyl composition tile is a finished flooring material which is used mainly in institutional and commercial applications. The tiles of the floor are cut into standard shapes like 12 x 12 squares or 12 x 24 rectangles. While furnishing, the sheet flooring or the tiles of the floor are applied to a smooth floor which is subleveled by making the use of specially prepared vinyl adhesive that is manageable. Certain tiles are buffed or waxed by making the use of special materials in commercial applications. Luxury vinyl flooring is not a special type or category of tiling. It is a marketing term that is used by numerous companies and is a way to describing vinyl tile flooring.

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Contemporary vinyl floor tile is selected for areas that are high-traffic due to durability, convenience in maintenance and low cost. Vinyl times have more flexibility and resistance to abrasion and damage and can be refinished repeatedly by making the use of mechanical buffing equipment and chemical strippers. The tiles can be removed and replace conveniently if appropriately installed. Vinyl tiles are available in various colors from many flooring manufacturers. Certain manufacturers have developed vinyl tiles that resemble terrazzo, wood, concrete and stone. Luxury vinyl flooring also provides flexibility in terms of designs. Luxury vinyl tiles are now being largely implemented all over, even though it was not considered as suitable for areas that are more prominent. Dude its resistance to water and durability; it is widely used in kitchen and bathrooms.

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Due to the decreasing economic growth of the world, the luxury vinyl flooring industry has also undergone the impact; nonetheless, it has managed to sustain a substantial growth. In the last 4 years the luxury vinyl flooring market has maintained the average annual growth rate of 5.59% and is expected to grow efficiently in the upcoming years.

On the basis of types the luxury vinyl flooring market is segmented in Functional luxury vinyl flooring and decorative luxury vinyl flooring. On the basis of application the luxury vinyl flooring market is segmented into commercial use and residential use. The key manufacturers in the luxury vinyl flooring market are Metroflor, Forbo, Armstrong, Congoleum, RiL, Hailide New Material, Milliken, NOX Corporation, Mohawk, LG Hausys, Parterre, Congoleum, Tarkett, Mannington Mills, Beaulieu, Taide Plastic Flooring, Snmo LVT, and Karndean. Geographically, the luxury vinyl flooring market is segmented into Middle East and Africa, Europe, Asia Pacific, North America and South America.

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