DUBLIN--(BUSINESS WIRE)--The "Luxury Vinyl Tiles (LVT) Flooring Market by Type (Rigid, Flexible), End-Use Sector (Residential, Non-residential), and Region (North America, Asia Pacific, Europe, Middle East & Africa, and South America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The LVT Flooring Market is Projected to Grow from USD 18.0 Billion in 2019 to USD 31.4 Billion by 2024, Recording a CAGR of 11.7% from 2019 to 2024
Increase in the construction activities (innovation, remodeling, and maintenance) are projected to drive the overall growth of the luxury vinyl tiles (LVT) flooring market across regions from 2019 to 2024.
The global LVT flooring market witnesses a high growth mainly due to the increasing construction activities worldwide. The rising disposable income of consumers, particularly in developing countries, is another key factor contributing to the increase in renovation and remodeling activities, which in turn, is projected to drive the growth of the LVT flooring market over the next few years.
In terms of value, the Asia Pacific region is projected to dominate the LVT flooring market during the forecast period due to the increasing demand from countries such as China, Australia, India, Japan, Thailand, Vietnam, and Indonesia. Increasing demand in these countries is due to the rising growth opportunities in the construction industry. The increasing number of new housing units and huge investments in the infrastructural sector are factors that are also projected to drive market growth.
The LVT flooring market comprises major manufacturers such as Mohawk Industries (US), Tarkett (France), Forbo (Switzerland), Shaw Industries, Inc. (US), and Interface (US.
- Increasing Population & Rapid Urbanization
- Rise in the Number of Renovation & Remodeling Activities
- Growing Interest of Consumers Toward Interior Decoration
- Volatile Raw Material Prices
- Rise in Environmental Concerns
- Rising Demand From Emerging Economies
- Growing Investments in the Construction Industry
- Disposal of Waste
- Adore Floors, Inc.
- American Biltrite
- Armstrong Flooring
- Daejin Co., Ltd
- Floorfolio Industries
- James Halstead Plc
- Jiangsu Taide Decoration Materials Co., Ltd
- LG Hausys
- Mannington Mills, Inc.
- Milliken & Company
- Mohawk Industries
- Raskin Industries Llc
- Responsive Industries Ltd.
- Shaw Industries Group, Inc.
- The Dixie Group, Inc.
- Wellmade Performance Floors
- Zhejiang Hailide New Material Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vuxbxt