Report Code : CVMI2501140 | Published Date : March 3, 2025

The Global Luxury Vinyl Tile (LVT) Flooring Market is experiencing strong growth, driven by increasing demand for durable, cost-effective, and visually appealing flooring solutions. Valued at USD 25.4 billion in 2023, the market is projected to grow at a CAGR of 7.8%, reaching USD 45.9 billion by 2031. This expansion is fueled by rapid urbanization, rising disposable incomes, and a growing preference for waterproof and easy-to-maintain flooring options in both residential and commercial sectors.

This comprehensive report by ClearView Market Insights presents an in-depth analysis of market segmentation, key growth drivers, competitive landscape, and emerging trends, offering valuable insights for manufacturers, distributors, and investors.

2. Market Overview

Market Definition & Scope

Luxury Vinyl Tile (LVT) is a premium flooring product that merges the aesthetic appeal of natural materials such as wood and stone with exceptional durability and water resistance. LVT comprises multiple layers, including a wear layer, a printed design layer, and a rigid core, making it perfect for high-traffic areas.

Market Size & Forecast (2023-2031)

  • 2023 Market Size: USD 25.4 Billion
  • 2031 Projected Size: USD 45.9 Billion
  • CAGR: 7.8%

Key Market Segments

  1. By Product Type:
    • Rigid Core LVT (XX%)
    • Flexible LVT (XX%)
    • WPC (20%)
  2. By Application:
    • Residential (55%)
    • Commercial (45%)
  3. By Distribution Channel:
    • Specialty Stores (XX%)
    • Home Centers (XX%)
    • Online Retail (XX%)
    • Others (10%)
  4. By Region:
    • North America (XX%)
    • Europe (XX%)
    • Asia-Pacific (30%)
    • RoW (XX%)

3. Market Dynamics

3.1 Market Drivers

1. Rising Urbanization & Housing Construction

  • Global urban population expected to reach 4.9 billion by 2030, driving flooring demand
  • US new housing starts projected at 1.6 million units annually through 2025

2. Advantages Over Traditional Flooring

  • 100% waterproof properties increasing adoption in kitchens/bathrooms
  • 3x more durable than laminate flooring with 25-year warranties becoming standard

3. Design Innovation & Customization

  • Digital printing enables 500+ realistic wood/stone designs
  • Thickness options from 2mm to 8mm for varied applications

3.2 Market Challenges

1. Volatile Raw Material Costs

  • PVC resin prices fluctuated 18% in 2023 due to supply chain issues
  • Phthalate-free plasticizers increase production costs by 12-15%

2. Environmental Concerns

  • Recycling infrastructure for vinyl flooring remains underdeveloped
  • 65% of consumers consider sustainability in flooring purchases

3.3 Market Trends

1. SPC (Stone Plastic Composite) Dominance

  • SPC segment growing at 11.2% CAGR due to superior stability
  • Accounts for 60% of rigid core LVT market

2. Commercial Sector Expansion

  • Healthcare LVT demand growing at 9.5% annually
  • Education sector adopting slip-resistant LVT products

3. Installation Innovations

  • Click-lock systems reducing installation time by 40%
  • Floating floor technology gaining popularity

4. Competitive Landscape

4.1 Key Players

Company

Market Share

Key Brands

Strategic Focus

Shaw Industries

18%

Floorté, Coretec

Residential focus

Mohawk Industries

16%

Pergo, IVC

Commercial expansion

Tarkett

12%

FiberFloor, Tarkett LVT

Sustainability leader

Armstrong Flooring

10%

Luxe Plank, Vivero

Design innovation

Mannington Mills

8%

Adura Rigid

Commercial specialty

4.2 Emerging Players

  • Karndean: Premium design-focused LVT (growing at 22% YoY)
  • Novalis: Innovative rigid core technologies
  • Califlor: Fastest-growing US manufacturer

4.3 Recent Developments (2024)

  • Mohawk launched 100% recycled content LVT line
  • Shaw introduced AI-powered visualizer tool for retailers
  • Tarkett acquired European LVT manufacturer for $320M

5. Regional Analysis

5.1 North America (35%)

  • US accounts for 85% of regional market
  • Canada seeing 9% annual growth in LVT adoption

5.2 Europe (XX%)

  • Germany leads with stringent quality standards
  • UK commercial sector driving growth

5.3 Asia-Pacific (XX%)

  • China dominates with 40% of regional demand
  • India emerging as manufacturing hub

6. Future Outlook

  • 2025: SPC to represent 70% of rigid core market
  • 2027: 30% of LVT to incorporate recycled materials
  • 2030: Smart flooring with embedded sensors to emerge




Reasons To Buy

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Scope

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Key Players

  • Mohawk Industries Inc.
  • Tarkett S.A.
  • Armstrong Flooring Inc.
  • Shaw Industries Group Inc.
  • Mannington Mills Inc.

 

Global Luxury Vinyl Tile (LVT) Flooring Market Report

  1. 1. Global Luxury Vinyl Tile (LVT) Flooring Market Research Report
    1. 1.1 Study Objectives
    2. 1.2 Global Luxury Vinyl Tile (LVT) Flooring Market - Overview
    3. 1.3 Reason to Read This Report
    4. 1.4 Methodology and Forecast Analysis
    2. Global Luxury Vinyl Tile (LVT) Flooring Market Research Report - Preface
    1. 2.1 Global Luxury Vinyl Tile (LVT) Flooring Market Research Report – Detailed Scope and Definitions
      1. 2.1.1 By Type
      2. 2.1.2 By Application
      3. 2.1.3 By Region
    3. Global Luxury Vinyl Tile (LVT) Flooring Market Dynamics
    1. 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
    2. 3.2. Restraints – By Type, By Application, By Country
    3. 3.3. Opportunities – By Type, By Application, By Country
    4. 3.4. Trends – By Type, By Application, By Country
    5. 3.5. PEST Analysis
    6. 3.6. Porters Five Rule Analysis
    7. 3.7. Company’s Share Analysis (CSA) by Region or By Country
    8. 3.8. Global Luxury Vinyl Tile (LVT) Flooring Market Research Report – DROTs Impact Analysis
    4. Global Luxury Vinyl Tile (LVT) Flooring Market Research Report, Historic Data 2019 - 2023 and Forecast Analysis Data 2024 - 2031
    1. 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
    2. 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
    3. 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
    4. 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. Global Luxury Vinyl Tile (LVT) Flooring Market, By Type, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 5.1 Stone-looks
      1. 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 5.2 Wood-looks
      1. 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 5.3 Abstract/Patterned
      1. 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. Global Luxury Vinyl Tile (LVT) Flooring Market, By Application, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 6.1 Residential
      1. 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 6.2 Commercial.
      1. 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    7. Global Luxury Vinyl Tile (LVT) Flooring Market Forecast, By Region, 2019 - 2023 and 2024 - 2031 (Market Value, In USD Mn)
    1. 7.1 North America
      1. 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    2. 7.2 Europe
      1. 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    3. 7.3 Asia-Pacific
      1. 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    4. 7.4 Latin America
      1. 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    5. 7.5 Middle East & Africa
      1. 7.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
      2. 7.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
      3. 7.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
      4. 7.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
    6. 7.6 Global Luxury Vinyl Tile (LVT) Flooring Market - Opportunity Analysis Index, By Type, By Application, and Region, 2024 - 2031
    8. North America Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 8.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.1.1 Stone-looks
      2. 8.1.2 Wood-looks
      3. 8.1.3 Abstract/Patterned
      8.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.2.1 Residential
      2. 8.2.2 Commercial.
      8.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 8.3.1 United States
      2. 8.3.2 Canada
      8.4 North America Global Luxury Vinyl Tile (LVT) Flooring Market – Opportunity Analysis Index, By Type, By Application, and Country, 2024 - 2031
      8.5 Regional Trends Analysis
      8.6 North America Global Luxury Vinyl Tile (LVT) Flooring Market Research Report - Company Profiles
      1. 8.6.1 Company 1 (United States)
      2. 8.6.2 Company 2 (Canada)
      3. 8.6.3 Company 3 (Canada)
    9. Europe Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 9.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.1.1 Stone-looks
      2. 9.1.2 Wood-looks
      3. 9.1.3 Abstract/Patterned
      9.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.2.1 Residential
      2. 9.2.2 Commercial.
      9.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 9.3.1 Germany
      2. 9.3.2 United Kingdom
      3. 9.3.3 France
      4. 9.3.4 Spain
      5. 9.3.5 Italy
      6. 9.3.6 Russia
      7. 9.3.7 Netherlands
      8. 9.3.8 Poland
      9. 9.3.9 Rest of Europe
      9.4 Europe Global Luxury Vinyl Tile (LVT) Flooring Market – Opportunity Analysis Index, By Type, By Application, and Country, 2024 - 2031
      9.5 Regional Trends Analysis
      9.6 Europe Global Luxury Vinyl Tile (LVT) Flooring Market Research Report - Company Profiles
      1. 9.6.1 Company 1 (Germany)
      2. 9.6.2 Company 2 (United Kingdom)
      3. 9.6.3 Company 3 (United Kingdom)
    10. Asia-Pacific Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 10.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.1.1 Stone-looks
      2. 10.1.2 Wood-looks
      3. 10.1.3 Abstract/Patterned
      10.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.2.1 Residential
      2. 10.2.2 Commercial.
      10.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 10.3.1 China
      2. 10.3.2 Japan
      3. 10.3.3 India
      4. 10.3.4 South Korea
      5. 10.3.5 Australia & NZ
      6. 10.3.6 ASEAN
      7. 10.3.7 Rest of Asia-Pacific
      10.4 Asia-Pacific Global Luxury Vinyl Tile (LVT) Flooring Market – Opportunity Analysis Index, By Type, By Application, and Country, 2024 - 2031
      10.5 Regional Trends Analysis
      10.6 Asia-Pacific Global Luxury Vinyl Tile (LVT) Flooring Market Research Report - Company Profiles
      1. 10.6.1 Company 1 (China)
      2. 10.6.2 Company 2 (Japan)
      3. 10.6.3 Company 3 (Japan)
    11. Latin America Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 11.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.1.1 Stone-looks
      2. 11.1.2 Wood-looks
      3. 11.1.3 Abstract/Patterned
      11.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.2.1 Residential
      2. 11.2.2 Commercial.
      11.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 11.3.1 Brazil
      2. 11.3.2 Mexico
      3. 11.3.3 Argentina
      4. 11.3.4 Peru
      5. 11.3.5 Colombia
      6. 11.3.6 Rest of Latin America
      11.4 Latin America Global Luxury Vinyl Tile (LVT) Flooring Market – Opportunity Analysis Index, By Type, By Application, and Country, 2024 - 2031
      11.5 Regional Trends Analysis
      11.6 Latin America Global Luxury Vinyl Tile (LVT) Flooring Market Research Report - Company Profiles
      1. 11.6.1 Company 1 (Brazil)
      2. 11.6.2 Company 2 (Mexico)
      3. 11.6.3 Company 3 (Mexico)
    12. Middle East & Africa Luxury Vinyl Tile (LVT) Flooring Market Analysis, 2019 - 2023 and Forecast, 2024 - 2031 (Market Value, In USD Mn)
    1. 12.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.1.1 Stone-looks
      2. 12.1.2 Wood-looks
      3. 12.1.3 Abstract/Patterned
      12.2 By Application Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.2.1 Residential
      2. 12.2.2 Commercial.
      12.3 Country Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
      1. 12.3.1 Saudi Arabia
      2. 12.3.2 UAE
      3. 12.3.3 South Africa
      4. 12.3.4 Egypt
      5. 12.3.5 Israel
      6. 12.3.6 Rest of Middle East and Africa
      12.4 Middle East & Africa Global Luxury Vinyl Tile (LVT) Flooring Market – Opportunity Analysis Index, By Type, By Application, and Country, 2024 - 2031
      12.5 Regional Trends Analysis
      12.6 Middle East & Africa Global Luxury Vinyl Tile (LVT) Flooring Market Research Report - Company Profiles
      1. 12.6.1 Company 1 (Saudi Arabia)
      2. 12.6.2 Company 2 (UAE)
      3. 12.6.3 Company 3 (UAE)
    13. Competition Landscape
    1. 13.1 Strategic Dashboard of Top Market Players
      13.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)
      1. 13.2.1 Mohawk Industries Inc.
      2. 13.2.2 Tarkett S.A.
      3. 13.2.3 Armstrong Flooring Inc.
      4. 13.2.4 Shaw Industries Group Inc.
      5. 13.2.5 Mannington Mills Inc.
    14. Data Collection Method and Research Approach
    15. Principal Presumptions and Acronyms



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