Global Luxury Vinyl Flooring Market: Latest Trends and Opportunities
According to a new report published by Reports Monitor titled, “Global Luxury Vinyl Tile Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Luxury Vinyl Tile market was valued at XX million in 2017, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Luxury Vinyl Tile (LVT) also termed as hot pressed tile possess similar appearance identical to stone or ceramic tile with natural colors and surface texture. It primarily composed of several layers which are fused together under heat and pressure. The coating layers adopted are: vinyl backing, vinyl core, print film and protective clear layer with polyurethane coatings.
Growing demand for LVT from construction sector is mainly fuelling the growth of market. Rising global population coupled with demand for houses and other infrastructure is facilitating the market growth. Increased strength and low maintenance cost for LVT has resulted as best option, hence supporting in raising the market level. However, the complexities involved in the installation and training associated with it is majorly restraining the growth of market.
This report provides a detailed analysis of Luxury Vinyl Tile market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
Global luxury vinyl tile market is mainly bifurcated on the basis of product and application, based on product market is bifurcated into: decorative luxury vinyl tile and functional luxury vinyl tile, while on the basis of end-use, market is segmented into: commercial and residential use.
The geographical study of global Luxury Vinyl Tile market mainly covers: North America, Europe, Asia Pacific and LAMEA. Asia-Pacific market is anticipated to grow rapidly owing to increasing construction activates in developing countries such as India and China. India is an important market for LVT. The increasing purchasing power of the population is anticipated to boost the demand of luxury vinyl tiles within market. Further, increased disposable income and growth in tourism would provide additional boost to the market. The positive outlook towards housing sector of emerging markets including Turkey, and Middle East countries on account of easy access to home loans to individuals is expected to have a substantial impact on the industry growth.
Major players operating in the global luxury vinyl flooring market are: Armstrong, Mannington Mills, Tarkett, NOX Corporation, LG Hausys, Congoleum, Mohawk, Gerflor, Forbo, Beaulieu, RiL, Metroflor, Milliken.
About Garner Insights:
We at Garner Insights.com provide a comprehensive analysis by providing in-depth reports of the various market verticals. Our Mission is to provide a detailed analysis of the vast markets worldwide backed by rich data. Decision makers can now rely on our well-defined data gathering methods to get the correct and accurate market forecasting along with detailed analysis.