Another report released by QY Research in the domain of chemical and materials, titled “Global Luxury Vinyl Flooring (LVT) Market Insights, Forecast to 2025”, provides an in-depth analysis of the luxury vinyl flooring market. The report provides an analysis of the growth in the bio-alternatives. It also includes the various research institutes that are working with manufacturers around the world to develop sustainable substitutes for the most common chemical substrates that are mainly used across the globe. This 184-page report describes the key market drivers, segments, geography, trends and opportunities, and leading players that are functioning in the market.
According to the report, the global luxury vinyl flooring market was valued at US$4.83 bn in 2018 and is likely to be worth US$12.44 bn by 2025. The market is expected to register a CAGR of 14.48% between 2019 and 2025.
Global Luxury Vinyl Flooring (LVT) Market: Trends and Developments
The luxury vinyl flooring is a finished flooring material that is made from the combination of the limestone-based material that is mixed with composites of synthetic and natural polymer materials such as plasticizers and polyvinyl chloride. It is a type of resilient and robust flooring that is predominantly used in construction activities, such as residential and commercial projects. Factors such as the growing infrastructural activities in areas of industrial, automotive, education, healthcare, and residential construction are expected to fuel the growth of the market in the coming years.
In addition, the increasing disposable income and the changing lifestyles are the other factors that are tilting the demand towards luxury products among users, which is also projected to boost the market growth over the forecast period.
Global Luxury Vinyl Flooring (LVT) Market: Segment Analysis
The global luxury vinyl flooring market is segmented into product type and application. The product type segment includes rigid luxury vinyl tile (LVT) and flexible luxury vinyl tile (LVT). The application segment includes commercial use and residential use. Residential segment is expected to lead the luxury vinyl flooring market because of increasing renovation and construction of houses.
Global Luxury Vinyl Flooring (LVT) Market: Regional Analysis
Asia Pacific will hold a remarkable market share in the global luxury vinyl flooring market due to growing disposable income, rising construction and infrastructural activities, and increasing population in emerging economies such as India and China. North America is also expected to witness growth in the market for luxury vinyl flooring due to ongoing product innovation and technological advancements. Europe is also likely to hold significant market share due to stringent government regulations.
Global Luxury Vinyl Flooring (LVT) Market: Leading Players
The key manufacturers that are operating in the global market for luxury vinyl flooring are Snmo LVT, Tarkett, Polyflor, Armstrong, Milliken, Mannington Mills, Metroflor, Mohawk, NOX Corporation, Congoleum, Beaulieu, Gerflor, CFL Flooring, Forbo, Shaw Floors, Novalis, Karndean, and LG Hausys.
Global Luxury Vinyl Flooring (LVT) Market: Competitive Landscape
Polyflor has launched its new Polysafe Stone fx PUR collection on July 1 to grab the market with authenticity and beauty of the concrete and stone surfaces. The Polysafe Stone fx is a distinct safety flooring collection, which is mainly designed for attracting interior environments that require the assurance of sustainable wet slip resistance.
Full Report Overview@ https://www.qyresearch.com/index/detail/737209/global-luxury-vinyl-flooring-lvt-market