Market Size of Global Luxury Vinyl Tile Floor Covering Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 29.87 Billion |
| Market Size (2029) | USD 48.06 Billion |
| CAGR (2024 - 2029) | 9.98 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Luxury Vinyl Tile Floor Covering Market Analysis
The Global Luxury Vinyl Tile Floor Covering Market size is estimated at USD 29.87 billion in 2024, and is expected to reach USD 48.06 billion by 2029, growing at a CAGR of 9.98% during the forecast period (2024-2029).
The global impact of COVID-19 has been exceptional and severe, with the outbreak producing a demand jolt throughout the world. As a result of the mandated lockdown in many countries, numerous building projects were suspended during the pandemic, while others were postponed until early 2020.
The luxury vinyl tile flooring market is projected to grow at a higher CAGR during the forecast period. The high growth of the construction industry across regions is projected to drive market growth. Factors such as the increasing residential and non-residential construction, remodeling & maintenance activities, the high durability, and enhanced aesthetic appearance of these products are projected to drive the demand for luxury vinyl tile flooring.
The rising disposable income of consumers, particularly in developing countries, is another key factor contributing to the increase in renovation and remodeling activities, which in turn, is projected to drive the growth of the luxury vinyl flooring market over the next few years.
