Global Luxury Vinyl Flooring (LVT) market will reach 12.44 billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/8

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.

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.

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