Summary

The LVT flooring market size was valued at US$ 22.22 billion in 2023 and is expected to reach US$ 43.95 billion by 2031; it is estimated to register a CAGR of 8.9% from 2023 to 2031.

Luxury vinyl tile offers a cost-effective alternative to traditional materials like hardwood or stone, providing the look and feel of luxury at an affordable price. In addition, technological advancements in the manufacturing process have allowed for more realistic textures and patterns, enhancing the visual appeal of LVT flooring, which has been attributed to the demand for the market during the forecasted period. Further, properties of LVT, such as durability, water resistance, and ease of maintenance, make it an attractive choice for both residential and commercial applications.

Based on type, the LVT flooring market is segmented into rigid and flexible. The rigid segment held the largest share of the market in 2023 and is expected to record the highest CAGR from 2023 to 2031. Rigid LVT flooring is made from a rigid core layer of composite material, such as stone polymer or wood polymer, sandwiched between two vinyl layers. Rigid luxury vinyl tiles, also known as floating or interlocking LVT, are designed to be installed without adhesive. The rigid core layer provides additional strength and stability to luxury vinyl tiles, making them suitable for high-traffic areas and busy homes. Rigid LVT can be installed over various subfloors, including concrete, ceramic tile, and even existing vinyl flooring, making it a preferable option for renovations and remodels. Several rigid core luxury vinyl tiles have a built-in underlayment that offers additional cushioning, making the flooring more comfortable to walk on and reducing the impact of foot traffic.

Asia Pacific is estimated to register the fastest CAGR in the global LVT flooring market from 2023 to 2031. Asia Pacific is the largest continent in the world and is renowned for its varied culture. China, Japan, India, South Korea, and Australia are among the major economies in Asia Pacific. Urbanization and rapid industrialization across China, India, Japan, South Korea, and Southeast Asian nations are fueling the demand for LVT flooring. With increasing urban populations, there is a surge in construction projects, including residential complexes, commercial buildings, and infrastructure projects. As developers and homeowners seek cost-effective yet visually appealing flooring solutions, LVT has emerged as a preferred choice due to its versatility, durability, and ability to mimic natural materials. For instance, in February 2024, according to the report by the Department for Promotion of Industry and Internal Trade (DPIIT), the Government of India has announced its plans to boost the infrastructure and construction services through several policies such as open foreign direct investment (FDI) norms, large budget allocation to the infrastructure sector, and smart cities mission.

A few players operating in the global LVT flooring market include Wedge Industries Ltd, Mohawk Industries Inc., Tarkett, Shaw Industries Group Inc., Interface Inc., AHF LLC, Gerflor SAS, Congoleum, Mannington Mills Inc., and Forbo Holding AG. Players operating in the market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global LVT flooring market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the LVT flooring market.

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Table of Contents

TABLE OF CONTENTS

1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. LVT Flooring Market Landscape
4.1 Overview
4.2 Porter’s Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.1 Threat of New Entrants
4.2.2 Intensity of Competitive Rivalry
4.2.3 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End Users
4.3.5 List of Vendors in the Value Chain
5. LVT Flooring Market – Key Market Dynamics
5.1 LVT Flooring Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Residential Construction
5.2.2 Cost-Effectiveness of Luxury Vinyl Tiles (LVT) Flooring
5.3 Market Restraints
5.3.1 Environmental Concerns
5.4 Market Opportunities
5.4.1 Expansion of Commercial Sector
5.5 Future Trends
5.5.1 Technological Advancements
5.6 Impact of Drivers and Restraints:
6. LVT Flooring Market – Global Market Analysis
6.1 LVT Flooring Market Volume (Million Sq. Meter), 2020–2031
6.2 LVT Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 LVT Flooring Market Revenue (US$ Million), 2020–2031
6.4 LVT Flooring Market Forecast and Analysis
7. LVT Flooring Market Volume and Revenue Analysis – by Type
7.1 Rigid
7.1.1 Overview
7.1.2 Rigid: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.1.3 Rigid: LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
7.2 Flexible
7.2.1 Overview
7.2.2 Flexible: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.2.3 Flexible: LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
8. LVT Flooring Market Revenue Analysis – by End User
8.1 Residential
8.1.1 Overview
8.1.2 Residential: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Commercial
8.2.1 Overview
8.2.2 Commercial: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Institutional
8.3.1 Overview
8.3.2 Institutional: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9. LVT Flooring Market – Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America LVT Flooring Market Overview
9.2.2 North America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.2.3 North America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.4 North America LVT Flooring Market Breakdown by Type
9.2.4.1 North America LVT Flooring Market Volume and Forecast and Analysis – by Type
9.2.4.2 North America LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.2.5 North America LVT Flooring Market Breakdown by End User
9.2.5.1 North America LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.2.6 North America LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.2.6.1 North America LVT Flooring Market Volume and Forecast and Analysis – by Country
9.2.6.2 North America LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.2.6.3 United States LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.3.1 United States LVT Flooring Market Breakdown by Type
9.2.6.3.2 United States LVT Flooring Market Breakdown by End User
9.2.6.4 Canada LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.4.1 Canada LVT Flooring Market Breakdown by Type
9.2.6.4.2 Canada LVT Flooring Market Breakdown by End User
9.2.6.5 Mexico LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.5.1 Mexico LVT Flooring Market Breakdown by Type
9.2.6.5.2 Mexico LVT Flooring Market Breakdown by End User
9.3 Europe
9.3.1 Europe LVT Flooring Market Overview
9.3.2 Europe LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.3.3 Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.4 Europe LVT Flooring Market Breakdown by Type
9.3.4.1 Europe LVT Flooring Market Volume and Forecast and Analysis – by Type
9.3.4.2 Europe LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.3.5 Europe LVT Flooring Market Breakdown by End User
9.3.5.1 Europe LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.3.6 Europe LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.3.6.1 Europe LVT Flooring Market Volume and Forecast and Analysis – by Country
9.3.6.2 Europe LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.3.6.3 Germany LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.3.1 Germany LVT Flooring Market Breakdown by Type
9.3.6.3.2 Germany LVT Flooring Market Breakdown by End User
9.3.6.4 France LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.4.1 France LVT Flooring Market Breakdown by Type
9.3.6.4.2 France LVT Flooring Market Breakdown by End User
9.3.6.5 United Kingdom LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.5.1 United Kingdom LVT Flooring Market Breakdown by Type
9.3.6.5.2 United Kingdom LVT Flooring Market Breakdown by End User
9.3.6.6 Italy LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.6.1 Italy LVT Flooring Market Breakdown by Type
9.3.6.6.2 Italy LVT Flooring Market Breakdown by End User
9.3.6.7 Russia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.7.1 Russia LVT Flooring Market Breakdown by Type
9.3.6.7.2 Russia LVT Flooring Market Breakdown by End User
9.3.6.8 Rest of Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.8.1 Rest of Europe LVT Flooring Market Breakdown by Type
9.3.6.8.2 Rest of Europe LVT Flooring Market Breakdown by End User
9.4 Asia Pacific
9.4.1 Asia Pacific LVT Flooring Market Overview
9.4.2 Asia Pacific LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.4.3 Asia Pacific LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.4 Asia Pacific LVT Flooring Market Breakdown by Type
9.4.4.1 Asia Pacific LVT Flooring Market Volume and Forecast and Analysis – by Type
9.4.4.2 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.4.5 Asia Pacific LVT Flooring Market Breakdown by End User
9.4.5.1 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.4.6 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.4.6.1 Asia Pacific LVT Flooring Market Volume and Forecast and Analysis – by Country
9.4.6.2 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.4.6.3 Australia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.3.1 Australia LVT Flooring Market Breakdown by Type
9.4.6.3.2 Australia LVT Flooring Market Breakdown by End User
9.4.6.4 China LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.4.1 China LVT Flooring Market Breakdown by Type
9.4.6.4.2 China LVT Flooring Market Breakdown by End User
9.4.6.5 India LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.5.1 India LVT Flooring Market Breakdown by Type
9.4.6.5.2 India LVT Flooring Market Breakdown by End User
9.4.6.6 Japan LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.6.1 Japan LVT Flooring Market Breakdown by Type
9.4.6.6.2 Japan LVT Flooring Market Breakdown by End User
9.4.6.7 South Korea LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.7.1 South Korea LVT Flooring Market Breakdown by Type
9.4.6.7.2 South Korea LVT Flooring Market Breakdown by End User
9.4.6.8 Rest of APAC LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.8.1 Rest of APAC LVT Flooring Market Breakdown by Type
9.4.6.8.2 Rest of APAC LVT Flooring Market Breakdown by End User
9.5 Middle East and Africa
9.5.1 Middle East and Africa LVT Flooring Market Overview
9.5.2 Middle East and Africa LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.5.3 Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.4 Middle East and Africa LVT Flooring Market Breakdown by Type
9.5.4.1 Middle East and Africa LVT Flooring Market Volume and Forecast and Analysis – by Type
9.5.4.2 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.5.5 Middle East and Africa LVT Flooring Market Breakdown by End User
9.5.5.1 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.5.6 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.5.6.1 Middle East and Africa LVT Flooring Market Volume and Forecast and Analysis – by Country
9.5.6.2 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.5.6.3 South Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.3.1 South Africa LVT Flooring Market Breakdown by Type
9.5.6.3.2 South Africa LVT Flooring Market Breakdown by End User
9.5.6.4 Saudi Arabia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.4.1 Saudi Arabia LVT Flooring Market Breakdown by Type
9.5.6.4.2 Saudi Arabia LVT Flooring Market Breakdown by End User
9.5.6.5 United Arab Emirates LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.5.1 United Arab Emirates LVT Flooring Market Breakdown by Type
9.5.6.5.2 United Arab Emirates LVT Flooring Market Breakdown by End User
9.5.6.6 Rest of Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.6.1 Rest of Middle East and Africa LVT Flooring Market Breakdown by Type
9.5.6.6.2 Rest of Middle East and Africa LVT Flooring Market Breakdown by End User
9.6 South and Central America
9.6.1 South and Central America LVT Flooring Market Overview
9.6.2 South and Central America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.6.3 South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.4 South and Central America LVT Flooring Market Breakdown by Type
9.6.4.1 South and Central America LVT Flooring Market Volume and Forecast and Analysis – by Type
9.6.4.2 South and Central America LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.6.5 South and Central America LVT Flooring Market Breakdown by End User
9.6.5.1 South and Central America LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.6.6 South and Central America LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.6.6.1 South and Central America LVT Flooring Market Volume and Forecast and Analysis – by Country
9.6.6.2 South and Central America LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.6.6.3 Brazil LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.3.1 Brazil LVT Flooring Market Breakdown by Type
9.6.6.3.2 Brazil LVT Flooring Market Breakdown by End User
9.6.6.4 Argentina LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.4.1 Argentina LVT Flooring Market Breakdown by Type
9.6.6.4.2 Argentina LVT Flooring Market Breakdown by End User
9.6.6.5 Rest of South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.5.1 Rest of South and Central America LVT Flooring Market Breakdown by Type
9.6.6.5.2 Rest of South and Central America LVT Flooring Market Breakdown by End User
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition
12. Company Profiles
12.1 Wedge Industries Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Mohawk Industries Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tarkett
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Shaw Industries Group Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Interface Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 AHF LLC
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Gerflor SAS
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Congoleum
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Mannington Mills Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Forbo Holding AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners