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Luxury Vinyl Tile Floor Covering Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: Mar 2022
  • Pages: 120
  • SKU: IRTNTR72594
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The luxury vinyl tile floor covering market share is expected to increase by USD 13.64 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.36%.

This luxury vinyl tile floor covering market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers luxury vinyl tile floor covering market segmentation by type (flexible and rigid) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The luxury vinyl tile floor covering market report also offers information on several market vendors, including Adore Floors Inc., American Biltrite Inc., Armstrong Flooring Inc., Beaulieu International Group, Congoleum Corp., Daejin Co. Ltd., Dixie Group Inc., EarthWerks, Forbo Holding AG, Gerflor Group, Interface Inc., James Halstead plc, LG Corp., Milliken and Co., Mohawk Industries Inc., Parador GmbH, Raskin Industries, Responsive Industries Ltd., Shaw Industries Group Inc., and Tarkett SA among others.

What will the Luxury Vinyl Tile Floor Covering Market Size be During the Forecast Period?

Luxury Vinyl Tile Floor Covering Market Size

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Luxury Vinyl Tile Floor Covering Market: Key Drivers, Trends, and Challenges

The growing demand for luxury vinyl tiles is notably driving the luxury vinyl tile floor covering market growth, although factors such as shortage of skilled labor may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury vinyl tile floor covering industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Luxury Vinyl Tile Floor Covering Market Driver

The growing demand for luxury vinyl tiles is one of the key drivers supporting the luxury vinyl tile floor covering market growth. LVT is a heterogeneous vinyl tile composed of three layers such as a backing or base composed of vinyl and fillers, a pattern layer, and a finish layer. The luxury vinyl tile segment is the fastest-growing segment of the global vinyl flooring market. This is because it can exactly replicate the finishing of hardwood flooring at comparatively lower costs. The LVT segment of the global vinyl flooring market is constantly gaining higher shares from the sales of vinyl composite tiles and vinyl sheets. Some key benefits of them include moisture resistance, durability, high customizability, low cost (compared to hardwood flooring), and suitability for high traffic areas. These benefits are fueling the demand for LVT in both the commercial and residential end-user industries. Such increasing demand will drive market growth during the forecast period.

Key Luxury Vinyl Tile Floor Covering Market Trend

Augmented reality (AR) in the flooring industry is another factor supporting the luxury vinyl tile floor covering market growth. Now, with the introduction of AR floor visualizer applications in the flooring industry, consumers can modify the design of rooms or homes without the need to view samples physically. Some major flooring vendors are also leveraging AR and VR technologies on their websites. For instance, Armstrong Flooring offers Design Visualizer, a virtual reality tool that allows users to visualize and select from a variety of flooring products. Similarly, Mohawk Industries recently tied up with Theia Interactive to create a VR experience while introducing its Lichen flooring collection at NeoCon, a design expo and conference event for commercial interiors. Tarkett also provides a VR platform called Room Visualizer to enable a virtual atmosphere for customers when choosing flooring materials. Such innovations will propel the growth of the global luxury vinyl tile flooring market during the forecast period.

Key Luxury Vinyl Tile Floor Covering Market Challenge

The shortage of skilled labor is one of the factors hindering the luxury vinyl tile floor covering market growth. The dealers are forced to pay substandard labor for the sake of retaining the workforce. Such a practice can affect the quality of flooring installation work. Moreover, the paucity of labor has increased average flooring labor costs. Although investments in construction activities are constantly increasing, the shortage of skilled workers can negatively impact the global vinyl flooring market. Manufacturers are losing revenue, as they are being forced to turn down project offers due to a labor shortage, and they are paying more to retain the existing workforce. Overall, the shortage of skilled labor will be a key challenge for the global luxury vinyl tile flooring market growth during the forecast period.

This luxury vinyl tile floor covering market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the luxury vinyl tile floor covering market as a part of the global home furnishings market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the luxury vinyl tile floor covering market during the forecast period.

Who are the Major Luxury Vinyl Tile Floor Covering Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Adore Floors Inc.
  • American Biltrite Inc.
  • Armstrong Flooring Inc.
  • Beaulieu International Group
  • Congoleum Corp.
  • Daejin Co. Ltd.
  • Dixie Group Inc.
  • EarthWerks
  • Forbo Holding AG
  • Gerflor Group
  • Interface Inc.
  • James Halstead plc
  • LG Corp.
  • Milliken and Co.
  • Mohawk Industries Inc.
  • Parador GmbH
  • Raskin Industries
  • Responsive Industries Ltd.
  • Shaw Industries Group Inc.
  • Tarkett SA

 

This statistical study of the luxury vinyl tile floor covering market encompasses successful business strategies deployed by the key vendors. The luxury vinyl tile floor covering market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, product bundle, and product features to compete in the market.

Product Insights and News

  • Armstrongflooring.com - The company offers resilient flooring products for use primarily in the construction and renovation of commercial, residential and institutional buildings primarily in North America and the Pacific Rim.
  • Gerflorgroup.com - The company offers flooring solutions and wall finishes to suit various applications such as housing, healthcare, education, sport, retail, industry, offices, hospitality and transport vehicles.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The luxury vinyl tile floor covering market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Luxury Vinyl Tile Floor Covering Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the luxury vinyl tile floor covering market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Luxury Vinyl Tile Floor Covering Market?

Luxury Vinyl Tile Floor Covering Market Market segmentation by region

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37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for luxury vinyl tile floor covering market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing adoption of LVT will facilitate the luxury vinyl tile floor covering market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in the region is expected to hamper the growth of the regional vinyl flooring market. However, in Q4 2020, lockdowns were lifted and manufacturing activities were resumed due to increasing vaccination drives in the region. Thus, the regional luxury vinyl tile floor covering market is expected to grow positively during the forecast period.

What are the Revenue-generating Type Segments in the Luxury Vinyl Tile Floor Covering Market?

Luxury Vinyl Tile Floor Covering Market Segmentation

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The luxury vinyl tile floor covering market share growth by the flexible segment will be significant during the forecast period. The flexible segment of the global luxury vinyl tile flooring market accounts for the highest share. Such tiles are made of materials such as vinyl, linoleum, and rubber flooring products. However, the emergence of LVT and Wood Plastic Composite Flooring (WPC) as adaptable flooring options will limit the growth of rubber and linoleum sheet and tile flooring products. The resilient flooring segment is expected to exhibit rapid growth during the forecast period. Thus, the popularity of LVT and investments in technology and R&D by key vendors to improve LVT offerings will continue to drive the growth of the segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury vinyl tile floor covering market size and actionable market insights on post COVID-19 impact on each segment.

 

Luxury Vinyl Tile Floor Covering Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.36%

Market growth 2022-2026

$ 13.64 billion

Market structure

Fragmented

YoY growth (%)

9.8

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 37%

Key consumer countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Adore Floors Inc., American Biltrite Inc., Armstrong Flooring Inc., Beaulieu International Group, Congoleum Corp., Daejin Co. Ltd., Dixie Group Inc., EarthWerks, Forbo Holding AG, Gerflor Group, Interface Inc., James Halstead plc, LG Corp., Milliken and Co., Mohawk Industries Inc., Parador GmbH, Raskin Industries, Responsive Industries Ltd., Shaw Industries Group Inc., and Tarkett SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

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What are the Key Data Covered in this Luxury Vinyl Tile Floor Covering Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive luxury vinyl tile floor covering market growth during the next five years
  • Precise estimation of the luxury vinyl tile floor covering market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the luxury vinyl tile floor covering industry across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of luxury vinyl tile floor covering market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

  • 5.1 Market segments
    • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
  • 5.2 Comparison by Type
    • Exhibit 26: Chart on Comparison by Type
    • Exhibit 27: Data Table on Comparison by Type
  • 5.3 Flexible - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Flexible - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 29: Data Table on Flexible - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 30: Chart on Flexible - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Flexible - Year-over-year growth 2021-2026 (%)
  • 5.4 Rigid - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Rigid - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 33: Data Table on Rigid - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 34: Chart on Rigid - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Rigid - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Type
    • Exhibit 36: Market opportunity by Type ($ billion)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC - Market size and forecast 2021-2026
    • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.4 North America - Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.5 Europe - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.6 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.7 South America - Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 China - Market size and forecast 2021-2026
    • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.10 Germany - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.11 Japan - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.12 Canada - Market size and forecast 2021-2026
    • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 Adore Floors Inc.
    • Exhibit 89: Adore Floors Inc. - Overview
    • Exhibit 90: Adore Floors Inc. - Product / Service
    • Exhibit 91: Adore Floors Inc. - Key offerings
  • 10.4 American Biltrite Inc.
    • Exhibit 92: American Biltrite Inc. - Overview
    • Exhibit 93: American Biltrite Inc. - Product / Service
    • Exhibit 94: American Biltrite Inc. - Key offerings
  • 10.5 Armstrong Flooring Inc.
    • Exhibit 95: Armstrong Flooring Inc. - Overview
    • Exhibit 96: Armstrong Flooring Inc. - Product / Service
    • Exhibit 97: Armstrong Flooring Inc. - Key news
    • Exhibit 98: Armstrong Flooring Inc. - Key offerings
  • 10.6 Beaulieu International Group
    • Exhibit 99: Beaulieu International Group - Overview
    • Exhibit 100: Beaulieu International Group - Product / Service
    • Exhibit 101: Beaulieu International Group - Key news
    • Exhibit 102: Beaulieu International Group - Key offerings
  • 10.7 Congoleum Corp.
    • Exhibit 103: Congoleum Corp. - Overview
    • Exhibit 104: Congoleum Corp. - Product / Service
    • Exhibit 105: Congoleum Corp. - Key offerings
  • 10.8 Daejin Co. Ltd.
    • Exhibit 106: Daejin Co. Ltd. - Overview
    • Exhibit 107: Daejin Co. Ltd. - Product / Service
    • Exhibit 108: Daejin Co. Ltd. - Key news
    • Exhibit 109: Daejin Co. Ltd. - Key offerings
  • 10.9 EarthWerks
    • Exhibit 110: EarthWerks - Overview
    • Exhibit 111: EarthWerks - Product / Service
    • Exhibit 112: EarthWerks - Key offerings
  • 10.10 Forbo Holding AG
    • Exhibit 113: Forbo Holding AG - Overview
    • Exhibit 114: Forbo Holding AG - Business segments
    • Exhibit 115: Forbo Holding AG - Key offerings
    • Exhibit 116: Forbo Holding AG - Segment focus
  • 10.11 Gerflor Group
    • Exhibit 117: Gerflor Group - Overview
    • Exhibit 118: Gerflor Group - Product / Service
    • Exhibit 119: Gerflor Group - Key offerings
  • 10.12 Interface Inc.
    • Exhibit 120: Interface Inc. - Overview
    • Exhibit 121: Interface Inc. - Business segments
    • Exhibit 122: Interface Inc. - Key news
    • Exhibit 123: Interface Inc. - Key offerings
    • Exhibit 124: Interface Inc. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 125: Inclusions checklist
    • Exhibit 126: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 127: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 128: Research methodology
    • Exhibit 129: Validation techniques employed for market sizing
    • Exhibit 130: Information sources
  • 11.5 List of abbreviations
    • Exhibit 131: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Luxury Vinyl Tile Floor Covering market growth will increase by $13.64 billion during 2021-2026.
The luxury vinyl tile floor covering market is expected to grow at a CAGR of 10.36% during 2021-2026.
Technavio has segmented the luxury vinyl tile floor covering market by type (Flexible, Rigid, Flexible, and Rigid) and geographic (APAC, North America, Europe, Middle East and Africa, and South America).
Adore Floors Inc., American Biltrite Inc., Armstrong Flooring Inc., Beaulieu International Group, Congoleum Corp., Daejin Co. Ltd., Dixie Group Inc., EarthWerks, Forbo Holding AG, Gerflor Group, Interface Inc., James Halstead plc, LG Corp., Milliken and Co., Mohawk Industries Inc., Parador GmbH, Raskin Industries, Responsive Industries Ltd., Shaw Industries Group Inc., Tarkett SA are a few of the key vendors in the luxury vinyl tile floor covering market.
APAC will register the highest growth rate of 37.24% among the other regions. Therefore, the luxury vinyl tile floor covering market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the luxury vinyl tile floor covering market growth are:
  • Growing demand for luxury vinyl tiles
  • Augmented reality (AR) in flooring industry
The luxury vinyl tile floor covering market vendors should focus on grabbing business opportunities from the flexible segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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