Global Luxury Vinyl Tile (LVT) Market Poised for Robust Growth Through 2031, Reports Reed Intelligence
Reed Intelligence today announced its in-depth market-analysis report on the Global Luxury Vinyl Tile (LVT) Market, projecting steady growth driven by rising demand for waterproof, aesthetically pleasing flooring. According to the report, the market is forecast to grow over the period 2023–2031 at a compound annual growth rate (CAGR) of approximately 8.45 percent.
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Key Highlights
Base Year / Forecast Period: The analysis uses 2023 as the base year and projects through 2031.
Growth Rate: A CAGR of 8.45% over the forecast period.
Regional Snapshot:
Largest Region: North America, underpinned by strong consumer demand and regulatory support for sustainable flooring.
Fastest-Growing Region: Asia Pacific (APAC), fueled by emerging economies, urbanization, and a burgeoning middle class.
Segment Highlights:
By Type: Rigid LVT and Flexible LVT are both analyzed; these remain key segments.
By Application: Residential and Commercial applications are covered, with notable demand in both.
Market Dynamics
Drivers
The global Luxury Vinyl Tile (LVT) market is being propelled by growing demand for waterproof flooring, especially in moisture-prone areas, and by widespread renovation projects in both residential and commercial sectors. Coupled with this is the strong aesthetic appeal of LVT, which offers the look of natural materials like wood and stone with lower maintenance and greater durability.
Restraints
However, the market must contend with economic uncertainties, supply chain disruptions, and regulatory hurdles, which could slow some of the uptake. Competitive pressures also remain intense as manufacturers race to offer differentiated, value-added products.
Yet, these challenges also create opportunities: companies can leverage product innovation, sustainable LVT options, and expansion into commercial applications to capture underserved geographies and emerging customer segments.
Leading Market Players
The report identifies several key players shaping the global LVT landscape:
Tarkett
Armstrong Flooring
Mannington Mills
NOX Corporation
LG Hausys
Congoleum
Mohawk Industries
Gerflor
Forbo Flooring
Beaulieu International Group
RiL
Metroflor
Milliken
Polyflor
Karndean
Market Segmentation
By Type
Flexible LVT
Rigid LVT
By Application
Commercial Use
Residential Use
By Region
North America (USA, Canada)
Europe (UK, Germany, France, Spain, Italy, Russia, Nordic, Benelux, Rest of Europe)
Asia Pacific (China, Korea, Japan, India, Australia, Singapore, Taiwan, Southeast Asia, Rest of APAC)
LAMEA (Latin America, Middle East & Africa) – including countries such as Brazil, Mexico, UAE, South Africa, Egypt, Nigeria, and more.
About Reed Intelligence
Reed Intelligence is a leading market research firm specializing in materials and chemical markets. Its comprehensive reports deliver data-driven insights on market trends, dynamics, and competitive landscapes to help businesses make informed strategic decisions.
