Market Overview:
The global LVT floor market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for luxury vinyl flooring (LVT) in commercial and residential applications. In terms of type, decorative LVT is expected to dominate the market during the forecast period, owing to its growing popularity among consumers for its aesthetic appeal. In terms of application, commercial use is expected to account for a larger share of the global LVT floor market during the forecast period.
Product Definition:
LVT Floor is a flooring type that is made from multiple layers of vinyl. The top layer is usually a printed design, while the bottom layer is a more textured vinyl to provide grip. LVT Flooring can be installed in either direction, and it can be used in both residential and commercial settings.
Decorative Luxury Vinyl Flooring (LVT):
Decorative luxury vinyl flooring (LVT) is a type of decorative flooring made from the polymer resins, which are derived from crude oil. It is produced in various patterns, textures and colors. The most commonly used types of resins for manufacturing LVTs include polyvinyl chloride (PVC), polypropylene (PP), ethyl vinyl acetate (EVA) and acrylonitrile/butadiene styrene (ABS).
Functional Luxury Vinyl Flooring (LVT):
Functional luxury vinyl flooring or Luxury vinyl tiles (LVT) is a type of composite material, which consists of two layers of polyvinyl chloride with different textures and colors. The top layer is made from highly-polished concrete; while the bottom one has been coated with rubberized asphalt. Both these materials are non-resilient, waterproof and have excellent resistance to oil & grease.
The product can be used in both wet areas such as bathrooms.
Application Insights:
The commercial use segment dominated the global LVT floor market in 2017 and is projected to witness significant growth over the forecast period. The rising demand for vinyl floorings in various commercial spaces, such as offices, showrooms, malls and hotels is expected to drive the product demand. In addition, increasing construction of new office buildings and retail stores across various regions is anticipated to further fuel product demand over the next eight years.
Residential application accounted for a share of 33% in 2017 owing to growing consumer preference for cost-efficient products that require less maintenance compared with hardwood or natural wood alternatives. Vinyl flooring offers cost-effectiveness along with superior aesthetics; these factors are likely to increase its penetration rate among consumers seeking low-maintenance floors throughout their homes or apartments.
Regional Analysis:
Asia Pacific dominated the global LVT floor market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing construction activities in emerging economies, such as China and India. In addition, rising demand for luxury Vinyl Tiles (LVT) from residential applications is anticipated to drive regional growth over the next eight years.
The Asia Pacific region accounted for a share of more than 30% of total market revenue in 2017 owing to high construction spending by governments across various countries including China, Indonesia, Malaysia and India among others. The growing middle-class population coupled with government initiatives aimed at improving infrastructure has led to an increase in residential constructions which will further fuel product demand during the forecast period.
Growth Factors:
- Increasing demand from the construction sector for flooring solutions that offer durability and easy installation is expected to drive the LVT Floor market growth over the forecast period.
- Rising consumer preference for luxury vinyl tiles owing to their aesthetic appeal is also anticipated to fuel market growth.
- Growing awareness about the benefits of using LVT Flooring, such as noise insulation and thermal insulation, is projected to propel demand in the coming years.
- The increasing trend of home improvement and renovation is also expected to benefit market growth as homeowners seek out affordable flooring options that are stylish and durable at the same time.
Scope Of The Report
Report Attributes
Report Details
Report Title
LVT Floor Market Research Report
By Type
Decorative Luxury Vinyl Flooring (LVT), Functional Luxury Vinyl Flooring (LVT)
By Application
Commercial Use, Residential Use
By Companies
Tarkett, Armstrong, Mannington Mills, NOX Corporation, LG Hausys, Congoleum, Mohawk, Gerflor, Forbo, Beaulieu, RiL, Metroflor, Milliken, Polyflor, Karndean, Parterre, Snmo LVT, Hailide New Material
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
140
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global LVT Floor Market Report Segments:
The global LVT Floor market is segmented on the basis of:
Types
Decorative Luxury Vinyl Flooring (LVT), Functional Luxury Vinyl Flooring (LVT)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Use, Residential Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Tarkett
- Armstrong
- Mannington Mills
- NOX Corporation
- LG Hausys
- Congoleum
- Mohawk
- Gerflor
- Forbo
- Beaulieu
- RiL
- Metroflor
- Milliken
- Polyflor
- Karndean
- Parterre
- Snmo LVT
- Hailide New Material
Highlights of The LVT Floor Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Decorative Luxury Vinyl Flooring (LVT)
- Functional Luxury Vinyl Flooring (LVT)
- By Application:
- Commercial Use
- Residential Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the LVT Floor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
LVT Floor is a type of floor that uses the principles of levitation to move goods and people. The floor is made up of a series of panels that can be raised and lowered using an electric motor. This allows items to be transported quickly and easily between different parts of the building.
Some of the major players in the lvt floor market are Tarkett, Armstrong, Mannington Mills, NOX Corporation, LG Hausys, Congoleum, Mohawk, Gerflor, Forbo, Beaulieu, RiL, Metroflor, Milliken, Polyflor, Karndean, Parterre, Snmo LVT, Hailide New Material.
The lvt floor market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 LVT Floor Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 LVT Floor Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 LVT Floor Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the LVT Floor Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global LVT Floor Market Size & Forecast, 2018-2028
4.5.1 LVT Floor Market Size and Y-o-Y Growth
4.5.2 LVT Floor Market Absolute $ Opportunity
Chapter 5 Global LVT Floor Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 LVT Floor Market Size Forecast by Type
5.2.1 Decorative Luxury Vinyl Flooring (LVT)
5.2.2 Functional Luxury Vinyl Flooring (LVT)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global LVT Floor Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 LVT Floor Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Residential Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global LVT Floor Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 LVT Floor Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America LVT Floor Analysis and Forecast
9.1 Introduction
9.2 North America LVT Floor Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America LVT Floor Market Size Forecast by Type
9.6.1 Decorative Luxury Vinyl Flooring (LVT)
9.6.2 Functional Luxury Vinyl Flooring (LVT)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America LVT Floor Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Residential Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe LVT Floor Analysis and Forecast
10.1 Introduction
10.2 Europe LVT Floor Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe LVT Floor Market Size Forecast by Type
10.6.1 Decorative Luxury Vinyl Flooring (LVT)
10.6.2 Functional Luxury Vinyl Flooring (LVT)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe LVT Floor Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Residential Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific LVT Floor Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific LVT Floor Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific LVT Floor Market Size Forecast by Type
11.6.1 Decorative Luxury Vinyl Flooring (LVT)
11.6.2 Functional Luxury Vinyl Flooring (LVT)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific LVT Floor Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Residential Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America LVT Floor Analysis and Forecast
12.1 Introduction
12.2 Latin America LVT Floor Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America LVT Floor Market Size Forecast by Type
12.6.1 Decorative Luxury Vinyl Flooring (LVT)
12.6.2 Functional Luxury Vinyl Flooring (LVT)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America LVT Floor Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Residential Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) LVT Floor Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) LVT Floor Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) LVT Floor Market Size Forecast by Type
13.6.1 Decorative Luxury Vinyl Flooring (LVT)
13.6.2 Functional Luxury Vinyl Flooring (LVT)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) LVT Floor Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Residential Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 LVT Floor Market: Competitive Dashboard
14.2 Global LVT Floor Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Tarkett
14.3.2 Armstrong
14.3.3 Mannington Mills
14.3.4 NOX Corporation
14.3.5 LG Hausys
14.3.6 Congoleum
14.3.7 Mohawk
14.3.8 Gerflor
14.3.9 Forbo
14.3.10 Beaulieu
14.3.11 RiL
14.3.12 Metroflor
14.3.13 Milliken
14.3.14 Polyflor
14.3.15 Karndean
14.3.16 Parterre
14.3.17 Snmo LVT
14.3.18 Hailide New Material
