Global Luxury Vinyl Flooring (LVF) Market to Witness Astonishing Growth by 2028

The global luxury vinyl flooring (LVF) market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The increase in consumer purchasing power over the past few years has helped them to transform their lifestyle and invest in luxury housing projects or renovating and renovating their existing homes. Increasing demand for home renovations is expected to boost the growth of the global LVF market during the forecast period. The use of flooring solutions in residential buildings enhances the provides durability and comfort. In addition, buyers see that a well-decorated home reflects their status. This has led them to use new flooring solutions, including vinyl flooring, to enhance their social image. These floors are ideal for living rooms, bedrooms, kitchens, laundry rooms, bathrooms, and toilets. All of these factors are expected to further the product demand in residential areas. Additionally, the floor is one area in the construction industry that has seen rapid change over the past two decades. The advent of many new technologies and the increasing use of specialized equipment means that the arena has changed in an unprecedented way, especially in terms of industrial and commercial LVF components.

In addition, LVF is a large solid flooring used in the construction industry. This type of flooring is relatively easy to maintain, provides moisture resistance, and lasts longer than other flooring solutions. The use of vinyl floor coverings to enhance the interior look, beauty, and comfort under a few residential and commercial buildings will drive the market. Additionally, consumers’ tendency to sustainable landing solutions will increase product usage globally. Adoption of slippery, slippery, waterproof floor coverings in residential and commercial buildings and commercial and health care facilities will provide opportunities for market growth.

For instance, in May 2021, Armstrong Flooring unveiled three LVT collections called Biome, Terra, and Coalesce with diamond technology patented by ten commercial users. These three sets have a thin profile with a 2.5 mm structure that reduces the material and energy used during production and results in a low carbon concentration of 31%. These products contain approximately 29% of recycled content.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By End-Use
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-Mohawk Industries, Tarkett, Forbo, Shaw Industries Inc., and The Dixie Group, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Luxury Vinyl Flooring LVT Market Report by Segment

By Type

• Rigid
• Flexible

By End-Use

• Residential
• Non-Residential