Luxury vinyl flooring (LVT) is a type of vinyl flooring that offers a more realistic look and feel than traditional vinyl. It is made up of several layers, including a wear layer, a design layer, and a backing layer. It is designed to be durable, waterproof, and stain-resistant, making it a great choice for high-traffic areas. LVT is available in a variety of colors and designs, ranging from wood-look planks to stone-look tiles.
LVT is used in both residential and commercial settings. In residential settings, it is used in kitchens, bathrooms, basements, and other areas. In commercial settings, it is used in offices, retail stores, and other areas with heavy foot traffic.
On a global scale, LVT is becoming increasingly popular due to its durability, affordability, and aesthetic appeal. It is also becoming more available in a variety of markets and is gaining traction in the United States, Europe, and Asia. It is expected to continue to grow in popularity in the coming years as more consumers become aware of its benefits.
The global Luxury Vinyl Flooring (LVT) market was valued at US$ 10050 million in 2022 and is anticipated to reach US$ 20120 million by 2029, witnessing a CAGR of 10.3% during the forecast period 2023-2029. The influence of COVID-19 and the Netherlands-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Luxury Vinyl Flooring (LVT) Market available at: https://www.themarketreports.com/report/global-luxury-vinyl-flooring-lvt-market-research-report
This report aims to provide a comprehensive presentation of the global market for Luxury Vinyl Flooring (LVT), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Luxury Vinyl Flooring (LVT).
The major players in global Luxury Vinyl Flooring (LVT) market include Tarkett, Armstrong, Mohawk, etc. The top 3 players occupy over 10% shares of the global market. North America and Europe are main markets, they occupy over 80% of the global market. Dry-Back LVT is the main type, with a share about 40%. Residential Use is the main application, which holds a share about 75%.
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