Global Luxury Vinyl Tiles Market is Segmented By Type (Glue-Down Tiles, Self-Adhesive Vinyl Tiles, Interlocking Vinyl Tiles, Loose Lay Vinyl Tiles), By Thickness (Less than 10 ml, 10 to 20 ml, 20 to 30 ml, More than 30 ml), By End-User (Residential, Commercial), By Distribution Channel (Specialty Stores, Online Stores, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Luxury Vinyl Tiles Market Overview
The Global "Luxury Vinyl Tiles Market" is estimated to reach at a CAGR of 11.2% during the forecast period (2024-2031).
Luxury Vinyl Tiles (LVT) are interlocking flooring that replicates the appearance and feel of traditional hardwood flooring tiles. LVT is waterproof, highly durable, low in maintenance, and available in an almost endless variety of colors and wood species, making it the most recommended option for flooring replicating hardwood tiles.
The most common thickness of LVT used in everyday households is 12 mil, but if a home is pretty active or has several pets, a greater thickness of 20 mils is recommended. Most thicker tiles, such as 28 mils, are used for commercial rather than household installations. Thicker tiles are more durable and sturdier, but the price is also increased with an increase in the thickness of the tiles. The thickness and durability of the flooring significantly affect how long LVT flooring will last. If installed precisely and maintained appropriately, the flooring can last from 10-20 years, depending on the area and the thickness installed.
Luxury Vinyl Tiles Market Scope
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Metrics |
Details |
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Market CAGR |
11.2% |
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Segments Covered |
By Type, By Thickness, By End-User, By Distribution Channel, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Source: DataM Intelligence Analysis (2023)
Luxury Vinyl Tiles Market Dynamics
The global luxury vinyl tiles market growth is driven by replacing ceramic tiles.
Replacement of ceramic tiles
Ceramic tile has dominated the market for decades due to its more stylish flooring options. However, vinyl is returning with a luxury vinyl tile category that provides increased durability and ease of maintenance over old vinyl flooring coupled with dramatic new styles at a lower price point without much installation or maintenance costs. Luxury vinyl tile is considered more budget-friendly than ceramic tile. Depending on the type of tile, ceramics can cost as much as hardwood or high-quality carpet. Apart from the cost of the materials, installing vinyl tile is 40% less than installing ceramic tile.
Moreover, installing ceramic tile is labor-intensive and needs a lot of time, demanding professionals to install the ceramic properly. Luxury vinyl tile is DIY-friendly and 60% faster to install than ceramic tile. The demand for luxury vinyl tile is growing as a replacement for ceramic tile because of the easier cleaning, quick installation time, cost-effective installation, and versatile products.
Moreover, the rising trend to change home design elements every few years boosts market demand. Floating vinyl tile floors are simpler to take out and replace, while ceramic tiles are tough to remove after installation. Various companies are launching new products as an alternative to ceramic tiles. For instance, in 2019, Responsive Industries established a floor covering innovation - Impact Rigid Core, an interlocking luxury vinyl tile designed to replace ceramic tiles, stone tiles, and other such flooring alternatives.
Easily prone to discoloration
Luxury vinyl tiles are prone to general stains easily, which leads to discoloration. Moisture from underneath or on top of the tile is common for discolored pigments. Vinyl flooring is water-resistant but not waterproof, so it can stain if exposed to moisture for long periods. Moreover, the spills from liquids, such as juice, water, and milk, can create stains on vinyl flooring if left for too long.
In addition, the luxury vinyl tiles can not be exposed to the sun. The tiles are quickly faded when exposed to direct sunlight for long periods. However, the manufacturers utilize UV inhibitors to help minimize exposure to sunlight, but fading may occur over time. To reduce fading, it is recommended to use shades or avoid the floor’s exposure to direct sunlight.
Covid-19 Impact on Luxury Vinyl Tiles Market Growth
The demand for luxury vinyl tiles has been unstable during the covid-19 with declining residential and commercial sectors. Due to the covid-19 pandemic, the countries were under lockdown, which restricted housing and building projects from being completed. The lockdown restricted the sales of luxury vinyl tiles due to uncertainty in the economy. The prices of hardwood, vinyl tile, and carpet products have increased anywhere from 4 to 8% in many countries. Prices for hardwood floors have increased anywhere from 15 to 70%.
The elevated costs are due to scarcity of raw materials, fuel inflation, and a lack of delivery systems. Many companies have increased wages to recruit and retain employees in the flooring industry. However, the manufacturers and shipping companies have overcome labor and material shortages, again lowering their flooring products' prices.
Luxury Vinyl Tiles Market Segment Analysis
By type, the luxury vinyl tiles market is segmented into glue-down tiles, loose-lay vinyl tiles, interlocking vinyl tiles, and self-adhesive vinyl tiles.
Growing demand from larger installations and high-traffic areas is boosting the sales of glue-down tiles.
Glue-down vinyl flooring is designed for gluing, but the special vinyl glue needs to get separately. In shops, office buildings, hotels, and public facilities, the flooring is revealed to be a high degree of stress due to the sheer amount of traffic and pressure it suffers. For such spaces, the most suitable flooring solution is glue-down vinyl flooring. Glue-down vinyl LVT floorings are used in domestic and commercial spaces and vary in style and design to ensure the right fit for every need. Glue-down luxury vinyl is highly suited to larger installations and high-traffic areas since it presents more durability, especially in rolling traffic.
The leading companies are launching new products, expected to boost their market demand. For instance, In 2021, LG Hausys Floors introduced LVT collections, Grand Teton, and Pike’s Peak. The collection features high-resolution printing technology that creates realistic patterns and visuals in a glue-down format. Moreover, in 2020, Karndean Designflooring launched its new Heritage Collection, which comprises designs that embody the pinnacle of designed floors. The first designs to join the collection are the 20-mil Opus glue-down luxury vinyl product range. The group has a lifetime residential warranty.
Source: DataM Intelligence Analysis (2023)
Luxury Vinyl Tiles Market Geographical Share
The expanding production facilities of luxury vinyl tiles are boosting the market in North America.
Luxury vinyl tile has grown famous for several reasons, including price, durability, and unique-looking surfaces in the region. Luxury vinyl tiles have been gaining demand for installation in bathrooms, laundry rooms, kitchens, and basements due to their waterproof features. Moreover, the recent government initiatives will positively impact the market's growth. For instance, in 2019, the U.S. government announced the U.S. Trade Representative granted the lifting of taxes on LVT from China.
The companies have been expanding their production lines with growing demand in lucrative opportunities in the region. For instance, in 2020, Novalis Innovative Flooring announced to build off its first U.S. production facility in Whitfield County. The company is investing US$ 30 million in the project. The facility will include advanced technologies in Rigid Core Luxury Vinyl Tile manufacturing and house the latest in automation. In addition, in 2018, Tarkett announced to the expansion of its production facility in the U.S. The investment of around US$ 60 million will be made over three years to increase production capacity at two manufacturing facilities based in Florence. The expansion addresses significant demand growth for vinyl modular flooring. The company is also planning to build a new distribution center in Florence.
Source: DataM Intelligence Analysis (2023)
Luxury Vinyl Tiles Market Companies and Competitive Landscape
The luxury vinyl tiles market is fragmented with the presence of local and global companies. The companies attract the audience with innovative designs and patterns for residential and commercial purposes. In addition, some key players contributing to the market's growth are Armstrong Flooring Inc, Shaw Floors, Mohawk Group, Bella Flooring Group, Continental Flooring Company, Durato International, COREtec Flooring, JJ Haines, Palmetto Road Hardwood Flooring, others. The major players are adopting new strategies to dominate the market, such as launching new technologies, expansions, acquisitions, and collaborations, contributing to the global growth of the luxury vinyl tiles market.
Armstrong Flooring Inc
Overview: Armstrong Flooring Inc is one of North America's leading producers of resilient flooring products. The company has headquarters in Lancaster, Pennsylvania, and operates eight manufacturing facilities in the U.S., China, and Australia. The company offers flooring products for homes, commercial spaces, builders, and property management.
Product Portfolio: The company offers luxury vinyl tiles in numerous colors, including Gray, Beige, White, Brown, and Black. The company offers its products in the following collections: American Personality, American Charm, and Vivero.
Critical Development: In 2021, Armstrong Flooring launched three new luxury vinyl flooring collections, Terram, Biome, and Coalesce. The company has also refreshed its homogeneous sheet collections, Medintone and Meditech. According to the company, each LVT product features a 2.5mm structure with a 20-mil wear layer, and the sheet collection is engineered for infection control. All collections feature the patented Diamond 10 technology for scratch, stain, and scuff performance.
Why Purchase the Report?
- Visualize the luxury vinyl tiles market segmentation by type, thickness, end-user, distribution channel, and region, highlighting the critical commercial assets and players
- Identify commercial opportunities in luxury vinyl tiles by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of luxury vinyl tiles market-level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the critical product of all major market players
The global luxury vinyl tiles market report would provide an approximate 69 market data table, 64 figures, and 180 pages
Target Audience 2024
- Raw Material Providers
- Buyers
- Tile Manufacturers
- Distributors
- Construction Companies
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Distributors
