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The luxury vinyl tiles (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% during the forecast period.

The growth of the LVT flooring market is attributed to the high growth in the construction industry across regions.

Factors such as the rise in the number of renovation & remodeling activities, increasing population & urbanization, and the high durability of LVT flooring is projected to drive its demand.♦ Download Detailed PDF Brochure Here: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105150640 The LVT flooring market is dominated by leading key players such Mohawk Industries (US), Tarkett (France), Forbo (Switzerland), Shaw Industries, Inc. (US), and Interface (US).

These players have adopted various growth strategies such as expansions, investments, new product developments, acquisitions, partnerships, agreements, and joint ventures to increase their market share and enhance their product portfolios.The new product development strategy accounted for the largest share of all the strategic developments that took place in the LVT flooring market between January 2015 and March 2019.

Key players such as Forbo (Switzerland), Interface (US), and Gerflor (France) adopted these strategies to strengthen their product portfolios, expand their product portfolio, and enhance their growth prospects in the LVT flooring market.Mohawk Industries is the leading flooring manufacturer, which primarily focuses on enhancing the residential and commercial spaces across the regions.

The company offers a range of LVT flooring solutions through its various brands, namely, Mohawk, Quick-step, Pergo, Moduleo design floors, and IVC Resilient design.

Various reforms and regulations introduced by developing nations for boosting the infrastructure and real estate industries drive the growth of the global luxury vinyl tiles market.

Rising consumer demand for luxury vinyl tiles from emerging economies is an opportunity for the market players.Key PlayersThe prominent players in the global luxury vinyl tiles market are Interface, Inc. (US), Tarkett (France), Gerflor (France), Shaw Industries Group, Inc., (US), Mannington Mills, Inc.  (US), Armstrong Flooring, Inc. (US), James Halstead plc (UK), Mohawk Industries (US), and Forbo Group (Switzerland).Vinylasa (Mexico), The Dixie Group, Inc. (US), Adore Floors, Inc. (US), American Biltrite (Canada) Ltd. (Canada), Milliken & Company (US), and Responsive Industries Limited (India) are some other key players operating in the global luxury vinyl tiles market.Asia-Pacific to dominate the global luxury vinyl tiles market during the forecast periodOn the basis of region, the global luxury vinyl tiles market is segmented as North America, Asia-Pacific, Europe, and the rest of the world.

Asia-Pacific dominated the global market, followed by North America, primarily due to the growth in construction industry, mainly in China and India.

The increasing real estate investment and growing number of Special Economic Zones (SEZ) in developing countries, mainly in India, are the other major factors driving the market growth in Asia-PacificNorth America has witnessed significant growth in the construction industry, owing to the increased home improvement and renovation projects in the region.

As per the US Census Bureau data, the total annual value of private construction in the US is USD 992,528 million in 2018, USD 539,800 million of which is for residential construction.

Moreover, the US is home for the key companies operating in the market such as Mohawk Industries, Shaw Industries Group, Inc., Interface, Inc., Armstrong Flooring, Inc., and Mannington Mills, Inc.The flexible segment is set to occupy a large share of the global luxury vinyl tiles marketThe global market is segmented on the basis of type as flexible and rigid.

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LVT is an acronym for “luxury vinyl tile.” It is a marketing term used by numerous companies to describe their vinyl flooring that is decoratively patterned to emulate the look of natural wood, granite or other types of flooring.

There is no exact definition of the term, only generalities.

It is not actually a separate category of tiling, simply a way of describing standard vinyl tiling that has been designed to match natural flooring.Europe is the biggest consumption country in the world followed by USA.

Though China is a populous country, the consumption volume is relatively small compared to Korea and Japan in Asia, which also means the huge potential in China market in the future.Get FREE Sample of this Report athttps://www.intelmarketresearch.com/download-free-sample/6/global-luxury-vinyl-flooring-lvt-2019LVT flooring downstream is wide and the main application fields are residential and commercial use.

Globally, residential use accounts for nearly 66.04% of total downstream consumption volume of LVT flooring in global in 2017.According to the type, it can be divided into Flexible LVT Flooring and Rigid LVT Flooring.

Flexible LVT Flooring is the main product, capturing about 67.57% of global consumption of LVT flooring in 2017.According to this study, over the next five years the Luxury Vinyl Flooring (LVT) market will register a 12.8% CAGR in terms of revenue, the global market size will reach US$ 7480 million by 2024, from US$ 3630 million in 2019.This report presents a comprehensive overview, market shares, and growth opportunities of Luxury Vinyl Flooring (LVT) market by product type, application, key manufacturers and key regions and countries.Market Segment by regions, this report splits global market into several key regions, with Production, Revenue, Consumption, Market Share of top players in these regions, from 2014 to 2025 (forecast), likeMarket Performance by Regions:ChinaUSAEuropeJapanKoreaIndiaGlobal OtherSplit by Product Types, with Production, Revenue, Price, Market Share of each type, can be divided intoDecorative Luxury Vinyl Flooring (LVT)Functional Luxury Vinyl Flooring (LVT)Split by applications, this report focuses on Sales, Market Share and Growth Rate of luxury Vinyl Flooring (LVT) in each application, can be divided intoCommercial UseResidential UseSplit by company, details are as below, Production，Revenue，Price，Cost and Gross Margin of each players will be included in this reportAIPTarkettNOX CorporationMohawkIlshinMannington MillsLG HausysZhejiang WalrusCongoleumGerflorForboBeaulieuRiLMetroflorMillikenPolyflorKarndeanParterreSnmo LVTHailide New MaterialIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.