Luxury Vinyl Tile Floor Covering Market Size, Share, By Product (Rigid Core LVT, Self-Adhesive LVT, Waterproof LVT, and Others), Thickness (Thin LVT, Medium LVT, and Thick LVT), Application (Residential, Commercial, Industrial, and Institutional), Distribution Channel (Online and Offline), and Region - Trends, Analysis, and Forecast till 2035

• By 2035, the luxury vinyl tile floor covering market size is expected to increase at a rate of USD 86.8 billion.
• In 2024, the market for luxury vinyl tile floor covering was estimated to be worth USD 35.6 billion.
• The market is experiencing a CAGR of 10.3%.

Luxury vinyl tile which is also known as LVT floor covering which is a premium form of vinyl flooring designed to offer the look and feel of natural materials, such as hardwood, stone, or ceramic, without the drawbacks associated with those materials. Focused market refers to the industry that produces and sells high-end vinyl flooring products designed to mimic the appearance of natural materials, such as wood, stone, and ceramic with enhanced durability and ease of maintenance. LVT is a part of the broader vinyl flooring market but stands out due to its premium quality, aesthetic appeal, and performance characteristics.

For instance, in October 2022, vinyl flooring manufacturer Gerflor has launched a new luxury vinyl tile (LVT) range aimed at architects and specifiers. The 2022 Creation LVT Collection offers an à la carte choice of wood, stone, marblem and mineral-effect designs and fitting options depending on the intended use (renovation or new) and the degree of traffic (light or moderate).

Key Takeaways:

• Asia Pacific held the largest share of the market in 2024 due to strong demand for sustainable energy solutions across the region.
• By product, rigid core LVT is expected to account for the largest share of the luxury vinyl tile floor covering market in the upcoming years as these films are widely utilized for their durability, cost-effectiveness, and ability to effectively protect solar cells.

Key Drivers of Target Market:

Expanding Construction Sector is Anticipated to Accelerate Market Expansion

The expansion of both residential and commercial construction globally is a significant factor for the luxury vinyl tile floor covering market growth. Further, increased building projects leads to higher demand for durable flooring solutions. 

• For instance, in November 2024, Danube Home, a key furnishing retailer in UAE, has unveiled its latest collection of flooring solutions for homes, outdoors, and commercial spaces including laminate, vinyl, engineered wood, and luxury vinyl tiles (LVT), designed to cater to diverse tastes and budgets. The company adapts to the consumer trend by combining sophisticated design with cutting-edge technology to manufacture premium flooring products, enabling homeowners, interior designers, and contractors to find the perfect flooring for any project.

Aesthetic Versatility has the Potential to Speed up Market Growth

Luxury vinyl tile is popular in a variety of industries as it can replicate expensive materials such as stone and wood while offering useful advantages. 

• For instance, in January 2025, Antica Ceramica, a leader in innovative tile design, has recently launched a new marble-look tile collection that combines the elegance of natural marble with the durability and ease of maintenance of porcelain tiles. This collection is set to transform spaces in residential, commercial, and hospitality settings, offering architects, interior designers, and homeowners the ideal solution for creating sophisticated and timeless interiors with minimal upkeep.  The collection also includes non-slip textures, a vital feature for areas prone to moisture, such as bathrooms and outdoor settings. This combination of safety, aesthetics, and practicality makes the collection a perfect choice for both residential and commercial applications.

Restraints:

Growth of the Target Market is limited by Fluctuating Raw Material Prices

Manufacturers have to adjust their pricing strategies frequently in response to raw material cost changes which separates price sensitive customers and reduce overall demand for luxury vinyl tile products. The reliance on specific raw materials exposes manufacturers to supply chain disruptions, which intensify cost fluctuations and lead to product delays or shortages. 

• Counterbalance Statements: Exploring alternative materials or formulations that reduce dependence on volatile raw materials helps manufacturers manage costs more effectively while also appealing to environmentally conscious consumers. 

Opportunities:

Major Opportunity for Target Market is Increased Home Renovation Activities 

• Renovation and house remodeling are becoming more and more popular, particularly in the following years of the epidemic. The target market solutions that combine elegance and practicality is growing as a result of homeowners investing in interior renovations, which includes flooring.
• For instance, in March 2020, Harvey Maria has just launched a new line of vinyl tiles called Pattern and its super-chic. The range has been created in collaboration with celebrated British designer Dee Hardwicke. Adapted from an original ceramic illustration, these beautiful tiles create a casual, rustic warmth in both modern and traditional interiors. 

Product, thickness, application, distribution channel, and region are the categories used to classify the luxury vinyl tile floor covering market.

Product:

Products in the luxury vinyl tile floor covering industry are divided into rigid core LVT, self-adhesive LVT, waterproof LVT, and others. The rigid core LVT segment is expected to dominate over the forecast period due to its enhanced durability and stability, making it suitable for high-traffic areas and various subfloor types. Rigid LVT is designed for easy installation without adhesives, which adds to its appeal for both residential and commercial applications.

• For instance, in April 2022, Polyflor announced the launch of its new interlocking Camaro Rigid Core collection. Positioned under the already established, hugely successful, and market-leading ‘Camaro’ brand, Camaro Rigid Core features 18 stunning new designs, spanning three formats, including plank, tile, and herringbone. The collection features a rigid SPC core construction, which acts as a strong and stable base for the 5G press fit locking mechanism allowing installation over most existing subfloors without the use of a mallet. 

Thickness:

By thickness, the target market is segmented into thin LVT, medium LVT, and thick LVT. The medium LVT segment dominates the luxury vinyl tile floor covering market share due to its ability to cater to different aesthetic needs, such as wood, stone, or tile finishes at a reasonable price. It also benefits from a balance of thickness, durability, and cost-effectiveness, making it a preferred choice for both residential and commercial applications.

Application:

The market is classified into four segments based on its anticipated use i.e. residential, commercial, industrial, and institutional. The residential segment dominates the focused market share as it is driven by the increasing consumer preferences for durable and aesthetically appealing flooring options in homes. The demand for LVT in residential applications has grown significantly as homeowners prioritize high-quality, low-maintenance flooring solutions that emulate the appearance of natural materials, such as wood and stone.

• For instance, in August 2024, My Home Group, a renowned real estate company, has launched a flagship residential project named My Home Akrida. It is situated on Gopanpally to Tellapur Road, the project spans an anticipated 24.99 Acres.

Distribution Channel:

By application, the target market is segmented into Online (E-commerce Platforms, Manufacturer Websites, and Others) and Offline (Retail Stores, Specialty Flooring Outlets, Wholesalers, and Others). The offline segment dominates the focused market as the consumers prefer to physically touch and feel flooring materials before making a purchase. Also, the ability to see the texture, color, and finish in person allow customers to make more informed decisions about their flooring choices, which is particularly important for products, such as LVT that are often used in prominent areas of the home, such as living rooms and kitchens.

Region:

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America: The presence of large-scale building and renovation projects, high home improvement project spending, and a growing commercial real estate industry allowing this region to occupy the biggest share of the targeted market size. Further, LVT is also a popular option for many applications due to its durability and adaptability.

Asia Pacific: Due to the growing demand for high-quality flooring solutions brought on by increased disposable incomes and a move toward modern homes, this region has the largest and fastest-growing target market size. Additionally, the sizable population in this area adds significantly to the market potential for LVT goods.

• For instance, in January 2023, the Commerce Ministry has the recommended imposition of anti-dumping duty on vinyl tiles coming from China and Taiwan for five years to guard domestic players from cheap imports from these countries. The Directorate General of Trade Remedies (DGTR) has recommended the duty on imports of 'Vinyl Tiles other than in roll or sheet form' from these countries after concluding in its probe that the product has been exported at dumped prices into India, which impacted the domestic industry.

 Luxury Vinyl Tile Floor Covering Market Report Scope:

Segmentation:

By Type:

• Rigid Core LVT
• Self-Adhesive LVT
• Waterproof LVT
• Others

By Thickness:

• Thin LVT
• Medium LVT
• Thick LVT

By Application:

• Residential
• Commercial
• Industrial
• Institutional

By Distribution Channel:

• Online

• E-commerce Platforms
• Manufacturer Websites
• Others

• Offline

• Retail Stores
• Specialty Flooring Outlets
• Wholesalers
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Mannington Mills, Armstrong Flooring, Forbo Group, and other major companies are involved in the target luxury vinyl tile floor covering market. In order to fulfill the rising demand for vinyl tile floor covering solutions, major players in the highly competitive luxury vinyl tile floor covering market share are concentrating on increasing production capacity, improving product quality and implementing cutting-edge technologies.

For instance, in February 2021, Welspun Flooring Limited, a fully integrated and independent flooring vertical of USD 2.7 billion Welspun Group, has announced the launch of its first-ever experience center in their manufacturing facility located at Chandanvelly, Hyderabad. Spread over approx. 9000 sq. ft., the center is designed to allow customers to experience the variety, unique features, and finishes of WelspunFlooring’s tiles.

List of Key Players in the Market:

• Mannington Mills
• Armstrong Flooring
• Forbo Group
• Shaw Industries Group, Inc.
• Mohawk Industries, Inc.
• Karndean Designflooring
• Metroflor Corporation
• Tarkett
• Gerflor Group
• Responsive Industries Ltd.
• Interface, Inc.
• LX Hausys
• Burke Flooring
• Cryntel
• Welspun Flooring 

• In December 2024, Antica Ceramica, a leader in innovative tile design, has recently launched a new marble-look tile collection that combines the elegance of natural marble with the durability and ease of maintenance of porcelain tiles. This collection is set to transform spaces in residential, commercial, and hospitality settings, offering architects, interior designers, and homeowners the ideal solution for creating sophisticated, timeless interiors with minimal upkeep.
• In July 2024, Interface, a global leader in flooring solutions and sustainability, held the Middle East launch of its latest Etched & Threaded carpet tiles and Earthen Forms luxury vinyl tiles (LVT) collections with an exclusive multimedia event in Dubai. Hosted at the innovative venue Lifesize Plans Dubai, in media partnership with Design Middle East magazine and Intelier, the event provided an immersive experience for several interior design studios in the region, showcasing Interface’s latest offerings in a truly interactive and engaging setting.
• In September 2023, flooring brand Tarkett aimed for an ultra-realistic look with its iD Click Ultimate collection of rigid luxury vinyl tiles, which mimic the appearance of stone and wood. Suitable for high-traffic areas, Naturals from the iD Click Ultimate collection were created by scanning stone and wood directly from nature and digitally printing the images onto the tiles, ending with a Tektanium ultra-matt finish that enhances its organic look. Also, the tiles can be used in a no-repeat pattern for up to 12 square metres. 
• In November 2021, global manufacturer Milliken & Company announces a new milestone in its ongoing sustainability journey. All Milliken carpet, luxury vinyl tile and entryway tile products around the globe are now carbon neutral, offsetting carbon emissions in raw materials and manufacturing carbon footprint using Verified Carbon Standard credits. This announcement, which anchors Milliken’s Flooring Business’s M/PACT initiative, is yet another part of the global manufacturer’s overarching commitment to sustainability, and specifically addresses carbon reduction to continue to support the fight against climate change.
• In January 2021, Seron Granito, India’s luxury floor tile manufacturer, has launched the impressive, stunning Exotic collection of tiles. The brand’s USP is its impeccable product quality, innovation, technology and manufacturing facilities that produce large format tiles in 600x1200mm, 800x1600mm and 1200x1800mm dimensions.

Analyst View:

Luxury vinyl tile floor covering market is witnessing robust growth driven by a combination of evolving consumer preferences, technological advancements and increasing construction activities across residential, industrial, and commercial. Luxury vinyl tile has emerged as a preferred flooring solution due to its unmatched versatility, aesthetic appeal and also performance features, such as durability, water resistance, and ease of maintenance. Further, considering these major factors the focused market growth is expected to boost in upcoming years.

More Related Reports

Luxury Hotels Market
Hard Luxury Goods Market
China Luxury Car Market
Floor Coating Market
India Floor Covering Market