Product Innovations In The Luxury Vinyl Tiles Flooring Market Allow Greater Stability And Ecological Performance

2022-04-20 09:46:25

(MENAFN- EIN Presswire)

Luxury Vinyl Tiles (LVT) Flooring Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company's LVT Flooring Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, April 20, 2022 /EINPresswire.com / -- Product innovations are a key trend shaping luxury vinyl tiles (LVT) flooring market growth. The key players in the luxury vinyl titles flooring are focusing on developing innovative products with advanced technologies to reciprocate natural materials in the products with greater stability and ecological performance. For instance, in 2021, Tarkett, a company operating in the luxury vinyl tiles flooring market-based in France has launched a luxury vinyl tile collection called iD Inspiration that emulates natural materials such as wood and stone. It is intended for use in hospitality, education, residential, retail, and workplace interiors and is suitable for areas with moderate to high footfall. The product has been developed to harness the power of nature to create feel-good interiors and also to improve well-being by deepening the connection between the outdoors, and the interior spaces where people work, learn and care.

Read more on the Global Luxury Vinyl Tiles (LVT) Flooring Market Report

The global luxury vinyl tiles flooring (LVT) market size is expected to grow from $17.65 billion in 2021 to $19.94 billion in 2022 at a compound annual growth rate (CAGR) of 12.99%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The luxury vinyl tiles (LVT) flooring market share is expected to reach $34.48 billion in 2026 at a CAGR of 14.67%.

The high growth of the construction industry is expected to propel the growth of the luxury vinyl tiles flooring market. Luxury vinyl flooring is economical and more efficient than other floorings currently available in the market, and additional factors of LVT such as cost-efficient, lightweight, the requirement of low maintenance make them an ideal choice for flooring in the construction sector. For instance, according to the Office of National Statistics UK, the monthly construction output increased by 3.5% in volume in November 2021. Also, according to Invest India, an India-based national investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. Therefore, the high growth in the construction industry drives the luxury vinyl tiles flooring market.

Major players covered in the global luxury vinyl tiles (LVT) flooring market industry are Tarkett, Forbo, Armstrong, Shaw Industries, Inc., Gerflor, Interface, Mannington Mills, Inc., Mohawk Industries, Parador GmbH, Polyflor, Metroflor, Milliken, LG Hausys, and James Halstead PLC.

TBRC's global luxury vinyl tiles (LVT) flooring market analysis report is segmented By type into rigid LVT, flexible LVT, by end-user into residential, non-residential.

Luxury Vinyl Tiles (LVT) Flooring Global Market Report 2022 – By Type (Rigid Luxury Vinyl Tiles (LVT), Flexible Luxury Vinyl Tiles (LVT)), By End-User (Residential, Non-Residential) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a luxury vinyl tiles (LVT) flooring market overview, forecast luxury vinyl tiles (LVT) flooring market size and growth for the whole market, luxury vinyl tiles (LVT) flooring market segments, geographies, luxury vinyl tiles (LVT) flooring market trends, luxury vinyl tiles (LVT) flooring market drivers, restraints, leading competitors' revenues, profiles, and market shares.

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