Global LVT Flooring
Market Report
2024
LVT Flooring Market size will be USD 18615.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.00% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global LVT Flooring market size will be USD 18615.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.00% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global LVT Flooring Market Sales Revenue 2024 | $ 18615.2 Million |
Global LVT Flooring Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 12% |
North America LVT Flooring Market Sales Revenue 2024 | $ 7446.08 Million |
North America LVT Flooring Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.2% |
Europe LVT Flooring Market Sales Revenue 2024 | $ 5584.56 Million |
Europe LVT Flooring Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.5% |
Asia Pacific LVT Flooring Market Sales Revenue 2024 | $ 4281.5 Million |
Asia Pacific LVT Flooring Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 14% |
South America LVT Flooring Market Sales Revenue 2024 | $ 930.76 Million |
South America LVT Flooring Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.4% |
Middle East and Africa LVT Flooring Market Sales Revenue 2024 | $ 372.3 Million |
Middle East and Africa LVT Flooring Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.7% |
Market Split by Type |
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Market Split by End-use Industry |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of LVT Flooring industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
LVT Flooring Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Luxury Vinyl Tile (LVT) flooring refers to a type of resilient flooring material that replicates the appearance of natural materials like wood, stone, or ceramic tiles while offering enhanced durability, ease of maintenance, and affordability. LVT flooring typically consists of multiple layers, including a wear layer for protection against scratches and stains. This printed design layer mimics the look of natural materials, a core layer for stability and dimensional strength, and often a backing layer for added support and sound absorption.
One of the key features of LVT flooring is its versatility, making it suitable for a wide range of applications in both residential and commercial settings. It is available in various styles, colors, and patterns, allowing for customization to suit different design preferences and interior aesthetics. LVT flooring is known for its ease of installation, with options for glue-down, click-lock, or loose-lay installation methods, making it accessible to DIY enthusiasts and professional installers alike.
Its combination of aesthetic appeal, durability, and ease of maintenance has contributed to the growing popularity of LVT flooring as a preferred choice for flooring solutions in modern construction and renovation projects. Increasing demand for durable and affordable flooring solutions, growing adoption in commercial spaces due to its low maintenance requirements, rising popularity among homeowners for its realistic appearance and easy installation, expanding construction activities in both residential and commercial sectors, advancements in technology leading to improved product quality and design options, stringent regulations favoring eco-friendly and sustainable flooring materials, rising disposable income levels driving consumer spending on home renovations, and the versatility of LVT flooring to mimic various natural materials like wood and stone are the major factors influencing the growth of the LVT Flooring market.
In 2022, Tarkett partnered with Squarefoot in India to launch a carpet recycling initiative. Tarkett will collect discarded carpet tiles from restoration sites and recycle both the backing and the yarn. The yarn is used to manufacture recycled paper bags, while the backing material is upcycled in the car and construction industries.
(Source: https://www.tarkett-group.com/en/recyclable-carpet-tiles/)
Technological advancements in manufacturing processes have emerged as a significant driver in the LVT (Luxury Vinyl Tile) flooring market. These advancements have revolutionized production methods, enabling manufacturers to enhance product quality, design versatility, and efficiency while reducing environmental impact. One of the key technological advancement is the development of digital printing techniques, allowing for highly realistic replication of natural materials such as wood, stone, and ceramic on LVT surfaces. This innovation has expanded design options, offering consumers a wide array of aesthetic choices that closely mimic the look and feel of authentic materials.
Moreover, advancements in embossing technologies have enabled manufacturers to add texture and depth to LVT flooring, enhancing its tactile appeal and visual realism. Improved wear layers and surface treatments have also been developed, enhancing durability, scratch resistance, and stain repellency, thereby extending the lifespan of LVT flooring products. Additionally, technological innovations in manufacturing processes have optimized production efficiency, resulting in cost savings that can be passed on to consumers, thereby increasing the affordability and accessibility of LVT flooring solutions. Overall, these technological advancements continue to drive growth and innovation in the LVT flooring market, meeting evolving consumer preferences and industry standards.
Government initiatives promoting infrastructure development serve as a significant driver for the LVT (Luxury Vinyl Tile) flooring market. Infrastructure development projects, such as urban renewal programs, transportation enhancements, and public facility construction, often require high-quality flooring solutions to meet aesthetic, durability, and safety standards. Governments worldwide are increasingly investing in such projects to stimulate economic growth, improve living standards, and enhance public services. As a result, there is a growing demand for LVT flooring in various infrastructure applications, including airports, railway stations, schools, hospitals, and government buildings. Government-backed initiatives may also include incentives or regulations promoting sustainable construction practices, leading to a preference for eco-friendly flooring materials like LVT, which often contain recycled content and are recyclable themselves. Furthermore, government-funded projects typically involve large-scale contracts, providing opportunities for LVT flooring manufacturers to secure lucrative deals and expand their market presence. Overall, government initiatives promoting infrastructure development drive the adoption of LVT flooring by creating a conducive environment for its use in diverse public and commercial spaces.
Economic downturns and uncertain market conditions present significant restraints for the LVT (Luxury Vinyl Tile) flooring market. During periods of economic instability, consumers and businesses often prioritize essential expenses over discretionary spending, including home renovation projects. Consequently, demand for LVT flooring products may decrease as individuals postpone or scale back on remodeling plans, impacting the market's growth trajectory. Additionally, uncertainty in the economic environment can deter investment in large-scale construction and commercial projects, leading to reduced demand for non-residential LVT flooring applications. Moreover, fluctuating exchange rates, trade tensions, and geopolitical uncertainties can disrupt supply chains, increase production costs, and affect pricing strategies within the LVT flooring industry. This can further compound the challenges faced by manufacturers and distributors, constraining their ability to maintain profitability and expand market reach. Overall, economic downturns and market uncertainties introduce volatility and risk into the LVT flooring market, necessitating adaptive strategies and robust risk management practices to navigate through challenging periods and sustain growth over the long term.
The LVT (Luxury Vinyl Tile) flooring market experienced a notable impact from the COVID-19 pandemic. Initially, widespread lockdowns and economic uncertainty resulted in project delays and cancellations, affecting both residential and non-residential segments. Supply chain disruptions led to material shortages and production slowdowns, further exacerbating market challenges.
However, as consumers spent more time at home, demand for home renovation projects surged, driving a recovery in residential LVT flooring sales. Additionally, increased emphasis on hygiene and cleanliness in commercial spaces propelled demand for easy-to-clean flooring solutions, benefiting the non-residential segment. Despite these trends, ongoing economic uncertainties and shifts in consumer behavior continue to influence the LVT flooring market landscape, necessitating adaptation and resilience from industry players.
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The LVT flooring market features intense competition among key players such as Shaw Industries, Mohawk Industries, Interface, Tarkett, and Armstrong Flooring. These companies compete based on product innovation, pricing strategies, distribution networks, and brand reputation. Additionally, market players focus on expanding their geographical presence, enhancing product portfolios, and leveraging sustainability initiatives to gain a competitive edge in the industry.
In June 2018, Interface introduced a new global luxury vinyl tile (LVT), Drawn Lines. It offers a distinct pattern that incorporates biophilic elements into the floor design. Drawn Lines are available in ten different colors: Smokey Quartz, Opal, Diamond, Bronze, Amber, Silver, Onyx, Aquamarine, Topaz, and Citrine.
(Source: https://shop.interface.com/SEA/en-SG/drawn-lines/A00908060020202XX0.html)
In 2022, Armstrong Flooring will introduce AsanaTM, NidraTM, and ZenscapeTM, three new heterogeneous sheet products. Each collection includes Diamond 10® Technology, a unique wear layer that utilizes cultivated diamonds to deliver the ultimate in scratch, stain, and scuff resistance while removing the need for polish.
(Source: https://www.armstrongflooring.com/commercial/en-us/products/diamond-10-technology.html)
Top Companies Market Share in LVT Flooring Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Global LVT Flooring Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing LVT Flooring Industry growth. LVT Flooring market has been segmented with the help of its Type, End-use Industry , and others. LVT Flooring market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Rigid LVT flooring, characterized by its solid core construction, offers enhanced durability and stability. It is suitable for high-traffic areas and environments prone to moisture. Its rigid composition allows for easier installation over uneven subfloors.
Flexible LVT flooring, featuring a more pliable construction, provides greater versatility and ease of handling during installation. It is often preferred for residential applications and areas where underfoot comfort is a priority. Both types offer a wide range of design options, including wood, stone, and abstract patterns, catering to diverse aesthetic preferences.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of LVT Flooring Industry. Request a Free Sample PDF!
Residential LVT flooring caters to homeowners, residential developers, and property managers seeking durable, stylish flooring options for homes, apartments, and condominiums. This segment often emphasizes aesthetics, ease of maintenance, and affordability to appeal to a broad consumer base.
Non-residential LVT flooring, on the other hand, targets commercial, industrial, and institutional settings such as offices, retail spaces, healthcare facilities, and educational institutions. In these environments, durability, longevity, and resistance to heavy foot traffic are crucial considerations. Additionally, non-residential LVT flooring often incorporates features like enhanced slip resistance and sound absorption to meet specific safety and acoustic requirements.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the LVT Flooring market report 2024 Edition by contacting our team.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. In North America, the LVT flooring market exhibits robust growth driven by factors like increasing residential and commercial construction activities, renovation projects, and shifting consumer preferences towards durable and aesthetically pleasing flooring solutions. Key players such as Shaw Industries, Mohawk Industries, and Armstrong Flooring dominate the regional market, leveraging their strong distribution networks and brand recognition. Moreover, stringent regulations promoting eco-friendly and sustainable flooring options further propel market growth in North America.
The Asia Pacific region is witnessing an increase in the sales of reagents. In Europe, the LVT flooring market showcases robust growth driven by factors like increasing urbanization, renovation activities, and rising consumer preference for aesthetically pleasing and durable flooring solutions. Countries such as Germany, the UK, France, and Italy are significant contributors to market expansion due to strong construction activity and a focus on interior design. Moreover, the adoption of stringent environmental regulations and sustainability initiatives further propel the demand for eco-friendly LVT flooring options across the region.
The current report Scope analyzes LVT Flooring Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global LVT Flooring market size was estimated at USD 18615.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 7446.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031. In North America, the LVT flooring market is driven by several factors, including a booming construction industry, particularly in the residential and commercial sectors. The increasing trend towards renovation and remodeling projects, coupled with a growing preference for cost-effective and visually appealing flooring solutions, fuels market growth. Additionally, advancements in manufacturing technologies, such as digital printing and embossing, enable LVT flooring manufacturers to offer a wide range of designs and textures, further stimulating demand in the region.
According to Cognitive Market Research, with a market value of USD 18615.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 5584.56 million. Europe, the LVT flooring market is primarily driven by the continent's burgeoning construction industry, which is fueled by urbanization and renovation projects. Additionally, the increasing emphasis on interior design aesthetics and the demand for durable yet visually appealing flooring solutions contribute to market growth. Furthermore, the adoption of stringent environmental regulations and sustainability initiatives incentivizes the uptake of eco-friendly LVT flooring options. These factors collectively propel the expansion of the LVT flooring market across Europe.
According to Cognitive Market Research, the global LVT Flooring market size was estimated at USD 18615.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 4281.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.0% from 2024 to 2031. In the Asia-Pacific region, the LVT flooring market is primarily driven by rapid urbanization, infrastructure development, and increasing disposable incomes. Countries like China, India, and Japan are witnessing significant demand due to burgeoning construction activities in residential, commercial, and industrial sectors. Moreover, the growing trend towards modernization, coupled with the preference for easy-to-install and low-maintenance flooring solutions, further boosts the adoption of LVT flooring in the region, driving market growth in Asia-Pacific.
According to Cognitive Market Research, the global LVT flooring market size was estimated at USD 18615.2.20 million, out of which the Latin American market has more than 5% of the global revenue, with a market size of USD 930.76 million in 2024. It will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031. In Latin America, the LVT flooring market is primarily driven by rapid urbanization, booming construction activities, and increasing disposable incomes. Countries like Brazil, Mexico, and Argentina witness significant demand due to a surge in residential and commercial construction projects. Moreover, the versatility, durability, and affordability of LVT flooring make it a preferred choice among consumers. Additionally, growing awareness of the benefits of LVT flooring, such as easy maintenance and resistance to moisture, further fuels market growth in the region.
According to Cognitive Market Research, the global LVT Flooring market size was estimated at USD 18615.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 372.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031. In the Middle East and Africa, the LVT flooring market is primarily driven by rapid urbanization, infrastructure development, and increasing disposable income levels. As urban centers expand and commercial sectors flourish, there is a growing demand for modern and visually appealing flooring solutions like LVT. Additionally, factors such as the hospitality industry's growth, rising tourism, and a surge in construction projects further fuel the adoption of LVT flooring, especially in commercial and luxury residential developments across the region.
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Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Rigid, Flexible |
End-use Industry | Residential, Non-residential |
List of Competitors | Mohawk Industries (US), Tarkett (France), Forbo (Switzerland), Shaw Industries Inc. (US), Interface (US), Armstrong Flooring (US), Gerflor (France), The Dixie Group (US), Responsive Industries Ltd. (India), Mannington Mills Inc. (US). |
This chapter will help you gain GLOBAL Market Analysis of LVT Flooring. Further deep in this chapter, you will be able to review Global LVT Flooring Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America LVT Flooring Market Trends North America LVT Flooring Technological Road Map North America LVT Flooring Market Drivers North America LVT Flooring Market Restraints North America LVT Flooring Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End-use Industry Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global LVT Flooring market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Rigid have a significant impact on LVT Flooring market? |
What are the key factors affecting the Rigid and Flexible of LVT Flooring Market? |
What is the CAGR/Growth Rate of Residential during the forecast period? |
By type, which segment accounted for largest share of the global LVT Flooring Market? |
Which region is expected to dominate the global LVT Flooring Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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