Luxury Vinyl Tile Flooring Market Analysis

Luxury Vinyl Tile Flooring Market Analysis

To get key market trends

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Rigid segment accounted for USD 14.7 billion in 2022. Rigid LVT is engineered with a strong, rigid core layer that enhances its durability and resistance to wear, making it well-suited for high-traffic areas in both residential and commercial settings. Moreover, an increasing usage will further accelerate the segmental growth.
 

The click luxury vinyl tile captured around 48% market share in 2022 and is expected to observe lucrative pace by 2032. Glue-down LVT is commonly used in commercial settings due to its strong adhesive bond and durability, making it suitable for high-traffic areas. Thus, the aforementioned factors are projected to expedite the luxury vinyl tile flooring market growth.
 

Wood-look luxury vinyl tile segment is estimated to register 9.2% growth rate up to 2032. Wood-look LVT designs are popular due to their ability to replicate the warmth and authenticity of real hardwood while offering the practical benefits of vinyl flooring. Thus, the high-quality services and growing usage of luxury vinyl tile flooring.
 

Based on end-use the market is segmented as Residential Housing, Commercial Spaces, Healthcare Facilities, Others. Residential Housing held a dominant market share in 2022 and is forecast to grow by 2032. Homeowners value the wide variety of design options, including wood and stone looks, that LVT provides.
 

U.S. dominated the North American region with majority market share and a revenue of USD 2.03 billion in 2022. LVT's ability to replicate the appearance of natural materials like hardwood and stone while offering enhanced durability and ease of maintenance makes it an attractive choice for homeowners seeking versatile and aesthetically pleasing flooring options. Thus, the above-mentioned variables would augment the luxury vinyl tile flooring business growth in the North America positively.