A luxury vinyl tile, is a type of modular vinyl flooring in which tiles are laid out individually. It's often designed to look like real wood or stone and has more benefits than natural materials. The luxury vinyl tiles flooring provides durable threeodimensional printing technology to add depth and realism with a high performance wear layer to vinyl tiles. It offers the option of a less permanent flooring compared to wooden or ceramic tiles. Increasing per capita income and growing inclination towards luxury living is propelling the growth of the luxury vinyl tiles flooring market in the forecast period.
MARKET SCOPE
The "Global Luxury Vinyl Tiles (LVT) Flooring Market Analysis to 2028" is a specialized and inodepth study of the Manufacturing and Construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Luxury Vinyl Tiles (LVT) Flooring market with detailed market segmentation by product type, end user, and geography. The report provides key statistics on the market status of the leading Luxury Vinyl Tiles (LVT) Flooring market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the market is segmented as rigid and flexible.
- The market on the basis of the end user is classified as residential and nonoresidential.
Drivers
- The increasing urbanization to boost the demands for Luxury Vinyl Tiles (LVT) Flooring.
- Increasing inclination towards interior decoration is bolstering the significant demand for Luxury Vinyl Tiles (LVT) Flooring worldwide.
- Increasing environmental concerns is estimated to be a restraint to the global Luxury Vinyl Tiles (LVT) Flooring market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, AsiaoPacific (APAC), the Middle East and Africa (MEA), and South America. The Luxury Vinyl Tiles (LVT) Flooring market by each region is later subosegmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Luxury Vinyl Tiles (LVT) Flooring market in these regions.
IMPACT OF COVID-19 ON LUXURY VINYL TILES (LVT) FLOORING MARKET
The outbreak of the COVID-19 has severely impacted the Manufacturing and Construction industries, which resulted in lower sales of Luxury Vinyl Tiles (LVT) Flooring based product in the year 2020. The Luxury Vinyl Tiles (LVT) Flooring market players struggled to gain profits by selling their products worldwide. Further, the shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and declined the sale of Luxury Vinyl Tiles (LVT) Flooring for specific periods. Overall, the sales were down in 2020, while the beginning of the 2021 market normalized the sale volume with an increase in manufacturing activities. Rise in renovation and remodeling activities are anticipated to boost the Luxury Vinyl Tiles (LVT) Flooring market in the post pandemic era.
MARKET PLAYERS
The report covers key developments in the Luxury Vinyl Tiles (LVT) Flooring market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as power launches, power approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Luxury Vinyl Tiles (LVT) Flooring market are anticipated to provide lucrative growth opportunities in the future with the rising demand for Luxury Vinyl Tiles (LVT) Flooring in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Luxury Vinyl Tiles (LVT) Flooring market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Armstrong Flooring
- Dixie Home
- Forbo Flooring Systems
- Gerflor Group
- Interface, Inc.
- LG Hausys, Ltd.
- Mannington Mills, Inc.
- Mohawk Industries
- Shaw Industries Group, Inc.
- Tarkett S. A