"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Luxury Vinyl Plank (LVP) Market Size, Share & Industry Analysis, By Type (Flexible, Rigid), By Application (Residential, Commercial) and Regional Forecast, 2023-2030

Region : Global | Report ID: FBI103389 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

Luxury Vinyl Plank (LVP) is a type of modern vinyl tiles used for flooring and are composed of Poly Vinyl Chloride (PVC). The PVC chips of desired thickness are formed and then cut into tiles. They are installed to get a smooth and levelled flooring for both residential and commercial buildings. These planks are durable and has good aesthetic features and has additional urethane coating to make it scratch resistant. Moreover, these tiles have high resistance to abrasions, impacts and chemicals. These tiles are low–cost and low maintenance which is expected to raise the market demand.


The cost-effective nature, low maintenance, easily replaceable nature, light weight and exceptional resistant properties to abrasion, scratch and chemical is expected to drive the market for the luxury vinyl plank during the forecast timeframe. Additionally, advancement in technology in the adhesive flooring techniques and products is likely to boost the market growth.


However, shorter lifespan compared to the wooden and ceramic tiles is likely to hinder the overall market growth. However, extensive R&D in the product is likely to act as an opportunity in the upcoming period.


Key Market Driver -

Exceptional properties and low maintenance cost

Key Market Restraint -

Shorter lifespan compared to wooden and ceramic counterparts


Market Segmentation:


Based on type, the market is segmented into flexible luxury vinyl plank and rigid luxury vinyl plank. Based on application, the market is segmented into commercial and residential.


From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.


Key Players Covered:


The global luxury vinyl plank (LVP) market consists of global & regional players. Some of the key players operating in the market include CFL Flooring, Dixie Group, Mohawk, Armstrong, Novalis, LG Hausys, NOX Corporation, Mannington Mills, and Others.


Key Insights



  • New Advancements in Production Technologies

  • Key Trends in the Luxury Vinyl Plank (LVP) Market

  • New Product Launches, Expansions, Key Players

  • Ranking of Key Players in the Market


Regional Analysis:


The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominated the market attributed to the shifting customer preferences towards new designs and aesthetics along with growing construction industry. Additionally, the changing constructional and infrastructural trends in China and India are expected to drive the regional market. The North America is expected to show significant growth due to the ample spending of consumers for construction and renovation. European regions are expected to show moderate growth due to rising disposable income coupled with growing infrastructure spending by the government. Latin America and Middle East and Africa are expected to show sluggish growth by the end of the forecast period.


To gain extensive insights into the market, Request for Customization


Segmentation






















 ATTRIBUTE


  DETAILS

By Type




  • Flexible

  • Rigid



By Application




  • Residential

  • Commercial



By Geography




  • North America (U.S., and Canada)

  • Europe (UK, Germany, France, Italy, and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)

  • Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)



Luxury Vinyl Plank (LVP) Industry Developments



  • In January 2020, Novalis Innovative Flooring announced the setup of first U.S manufacturing facility in Whitfield County. The manufacturing facility will include most advanced technologies for Rigid Core Luxury Vinyl Tiles production.

  • In July 2019, Mohawk Industries initiated its full consumer launch for the Pergo Extreme, an enormously durable, rigid luxury vinyl flooring solution.


  • Ongoing
  • 2022
  • 2019-2021

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

BASF
Mckinsey
Mobil
3M
Iwatani

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X