Industry Background:
Luxury Vinyl Flooring is Used for Providing Protection & Aesthetic Appearance to the Surface it in Applied on. It Delivers High Durability, Flexibility, Ease of Installation, & is Budget-Friendly. It Offers Superior Comfort & Noise Control. The Primary Raw Material for Producing Luxury Vinyl Flooring Include Polyvinyl Chloride Resins, Plasticizers (High Molecular-Weight Solvents), Pigments, Trace Stabilizers, & a Carrier Sheet or Backing
According to AMA Research, the market for Luxury Vinyl Flooring is expected to register a CAGR of 9.05% during the forecast period to 2028. This growth is primarily driven by Rise in the Usage of Luxury Vinyl Flooring for Residential Construction, Remodelling & Maintenance Activities Owing to Increase in the Consumer Disposable Income
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Construction Materials sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Shaw Industries (United States), Armstrong Flooring (United States), Mannington Mills (United States), Mohawk Industries (United States), Tarkett (France), Forbo Holding AG (Switzerland), Beaulieu International Group (Belgium), IVC Group (Belgium), CBC Flooring (United States) and Congoleum Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2018, Mohawk Industries acquired Godfrey Hirst Group (Australia), a flooring company in New Zealand & Australia, to expand its global operations and In June 2018, Interface introduced new global luxury vinyl tile (LVT), available in ten different colors, namely, Smokey Quartz, Opal, Diamond, Bronze, Amber, Silver, Onyx, Aquamarine, Topaz, & Citrine
In January 2019, Genflor launched Creation 30 & Creation 55, a new collection of LVT–Luxury Vinyl Tiles & Planks and In September 2018, MSI, North America's Luxury Vinyl Supplier, successfully launched EverlifeTM, a comprehensive line of Luxury Vinyl Tile (LVT)The Market for the Luxury Vinyl Flooring is Fragmented with the Presence of Many Players. Leading Players Can Adopt Strategies Like a Merger, Acquisition, Expansion, New Product Launch, in Order to Gain Share Within the Market. Owing to Booming Industrialization & Urbanization, there are Growing Prospects for the New Players to Enter the Market
Influencing Trend:
Increasing Investment in the Infrastructure Sector
Market Growth Drivers:
Rise in the Usage of Luxury Vinyl Flooring for Residential Construction, Remodelling & Maintenance Activities Owing to Increase in the Consumer Disposable Income and Growth in the Construction of Offices & Commercial Spaces Due to Urbanization
Challenges:
The Emission of Volatile Organic Compounds (VOCs) From the Manufacturing & Usage of Luxury Vinyl Floorings & Difficult Recycling Process May Pose a Challenge
Restraints:
Market Presence of Alternatives Like Carpet, Ceramic Tile, Hardwood & Laminate
Opportunities:
There are Growing Prospects for Market Growth, Owing to the Rise in the Use of Luxury Vinyl to Cater to the Demands of the Housing Sector in Emerging Countries like India, Brazil, & China On Account of Easy Availability of Home Loans and There is an Increasing Opportunity for the Market Expansion, Due to the Rise in the Preference of Luxury Vinyl Flooring in Emergency & Operating Rooms, As These Materials Have a High Resistance Against Chemical Stains From Medical Products & Bodily Fluids
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Luxury Vinyl Flooring Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Luxury Vinyl Flooring Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Luxury Vinyl Flooring players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Luxury Vinyl Flooring Study Sheds Light on
The Luxury Vinyl Flooring Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Luxury Vinyl Flooring industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Luxury Vinyl Flooring industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.