Luxury vinyl tile, or LVT for short, is a form of modular vinyl flooring. Unlike typical vinyl flooring, which is spread out in single sheets, tiles are placed down one by one. It's typically made to seem like genuine wood or stone, yet it offers more advantages than natural materials. Luxury vinyl is used to beautify floors because it looks great and is less expensive than other flooring solutions. Moisture and climate change are not a problem for luxury vinyl flooring.
MARKET SCOPE
The "Global Luxury Vinyl 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 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 flooring market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- ?On the basis of product type, the market is segmented as luxury vinyl tiles, vinyl composite tiles, and vinyl sheets. ?On the basis of end user, the market is segmented as residential, and nonoresidential.
Drivers
- ?Increasing Population & Rapid Urbanization?Rise in the Number of Renovation & Remodeling Activities
- ?Rise in Environmental Concerns
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 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 flooring market in these regions
IMPACT OF COVID-19 ON LUXURY VINYL FLOORING MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic has a negative impact on the luxury vinyl flooring market in 2020. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human's movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. However, in 2021, with the uplifting of lockdown and vaccination processes, the manufacturing and construction companies have started working again. So, the demand for luxury vinyl flooring has started rising.
MARKET PLAYERS
The report covers key developments in the luxury vinyl flooring market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product 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 flooring market is anticipated to lucrative growth opportunities in the future with the rising demand for luxury vinyl 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 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.
- ?Tarkett SA?Armstrong World Industries Inc. ?Berkshire Hathaway Inc. ?CBC America LLC?Mannington Mills?Congoleum Corporation?Forbo Flooring India Pvt. Ltd. ?Gerflor Group?Novalis?Mohawk Industries Inc.