Global Luxury Vinyl Tile Market Overview:
Luxury Vinyl Tile differs from the vinyl sheets by mimicking the look of natural materials, principally wood or stone. LVT has excellent resistance to moisture, which has opened its applicability for bathrooms & kitchens. LVT is made up of multiple thin layers so as to maintain the flexibility and durability of the flooring while keeping it look aesthetic. LVT is considered as a sustainable flooring product due to its long life. In today’s time, sustainability has been the center of focus for manufacturers as well as end-users. This will result in steady market growth of LVT.
Growth Drivers
- Spurring Demand Due To Favorable Aesthetic & Performance Properties
- Easy Installation Favors DIY Homeowners
Roadblocks
- Rising Concerns Regarding Chemical Used To Manufacture LVT
Opportunities
- Growth in Building Construction Expenditure Will Increase Demand
- Moderate Cost and Long Life of Product Likely To Favor Gains
Challenges
- Workers at the Plant Are at Exposed To Health Hazards
Competitive Landscape:
Some of the key players profiled in the report are Interface, Inc. (United States), Armstrong Flooring (United States), Forbo (Netherlands), Mohawk Industries (United States), Responsive Industries Limited (India), Amtico International (United Kingdom), Karndean (United States), Mannington Mills (United States), Tarkett (France) and Shaw Industries (United States). Additionally, following companies can also be profiled that are part of our coverage like Flooret (United States), Congoleum (United States), Parterre (United States) and IVC Group (United Kingdom). Analyst at AMA Research see United States Vendors to retain maximum share of Global Luxury Vinyl Tile market by 2026. Considering Market by Edge Type, the sub-segment i.e. Beveled will boost the Luxury Vinyl Tile market. Considering Market by End-Users, the sub-segment i.e. Residential {Living Room, Kitchen, Nursery, Bathrooms, Others} will boost the Luxury Vinyl Tile market. Considering Market by Installation System, the sub-segment i.e. Glued {Self-Adhesive, Glue-Down} will boost the Luxury Vinyl Tile market.
Interface, Inc., a leading flooring company revealed its latest collection, “Look Both Ways” in June 2019. The collection offers designers an on-trend concrete and terrazzo flooring aesthetic, with the acoustic, maintenance and performance benefits of luxury vinyl tile (LVT) and carpet tile. With a variety of patterns, textures, and colorways, Look Both Ways allows for endless design combinations with eight products total, including four carpet tile and four LVT products.
ASTM standards contribute to research, production, and environmental safety and to thousands of finished products manufactured from rubber, plastics, and raw materials. According to their standards, performance requirements for vinyl composition tiles include deflection limit, dimensional stability, chemical resistance, and heat resistance. Basic chemicals for chemical resistance tests include vinegar, alcohol, mineral oil, sodium hydroxide solution, household ammonia solution, household bleach, olive oil, kerosene, unleaded gasoline, and phenol.
What Can be Explored with the Luxury Vinyl Tile Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Luxury Vinyl Tile Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Luxury Vinyl Tile
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Luxury Vinyl Tile market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Luxury Vinyl Tile market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Luxury Vinyl Tile Manufacturer, Luxury Vinyl Tile Raw Material Supplier, Luxury Vinyl Tile Traders/Distributors/Suppliers, Luxury Vinyl Tile End-User, Luxury Vinyl Tile Downstream Vendors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.