Global Luxury Vinyl Plank Flooring Market Research Report 2022

Vinyl plank flooring, also called luxury vinyl flooring (LVF), is also 100 percent synthetic, but in these products, the core layer is a thicker, multi-layer PVC vinyl. Luxury vinyl comes in planks or tiles, sometimes called LVP and LVT, respectively. There are glue-down and loose-fit versions available, but also interlocking styles that join together in much the same way as laminate flooring planks.
Industry Insights

Due to the COVID-19 pandemic, the global Luxury Vinyl Plank Flooring market size is estimated to be worth US$ million in 2021 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, the Europe Luxury Vinyl Plank Flooring market is estimated at US$ million in 2022, while the United States and China are forecast to reach US$ million and US$ million by 2028, respectively. The proportion of the United States is % in 2022, while Chinese percentage is %, and it is predicted that China market share will reach % in 2028, trailing a CAGR of % through the analysis period. As for the Europe Luxury Vinyl Plank Flooring landscape, Germany is projected to reach US$ million by 2028. and in Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.

Flexible Vinyl Plank Flooring accounting for % of the Luxury Vinyl Plank Flooring global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Residential Use segment is altered to an % CAGR throughout this forecast period and will hold a share about % in 2028.

The global major manufacturers of Luxury Vinyl Plank Flooring include Tarkett, Armstrong, Congoleum, Gerflor, Forbo, Novalis, LG Hausys, Karndean and CFL Flooring, etc. In terms of revenue, the global 3 largest players have a % market share of Luxury Vinyl Plank Flooring in 2021.

This report focuses on Luxury Vinyl Plank Flooring volume and value at the global level, regional level, and company level. From a global perspective, this report represents overall Luxury Vinyl Plank Flooring market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan, etc.

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Post-covid-19 Outlook

The readers in the section will understand how the Luxury Vinyl Plank Flooring market scenario changed across the globe during the pandemic and post-pandemic. The study is done keeping in view the changes in aspects such as sales, demand and supply chain. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Segmental Outlook

Key segments including type and application have been elaborated in this report. The consultants at QY Research have studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows sales and revenue data by type, and application during the historical period (2017-2022) and forecast period (2023-2028).

Segment by Type

Flexible Vinyl Plank Flooring

Rigid Vinyl Plank Flooring

Segment by Application

Residential Use

Commercial Use

Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2017-2028. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region.

North America

United States

Canada

Europe

Germany

France

U.K.

Italy

Russia

Asia-Pacific

China

Japan

South Korea

India

Australia

China Taiwan

Indonesia

Thailand

Malaysia

Latin America

Mexico

Brazil

Argentina

Colombia

Middle East & Africa

Turkey

Saudi Arabia

UAE

Competitive Scenario

In this section, the readers will gain an understanding of the key players competing. The experts at QY Research have studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2017-2022. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:

Tarkett

Armstrong

Congoleum

Gerflor

Forbo

Novalis

LG Hausys

Karndean

CFL Flooring

Beaulieu

NOX Corporation

Metroflor

Milliken

Polyflor

Snmo LVT

Frequently Asked Questions

Which product segment grabbed the largest share in the Luxury Vinyl Plank Flooring market?

How is the competitive scenario of the Luxury Vinyl Plank Flooring market?

Which are the key factors aiding the Luxury Vinyl Plank Flooring market growth?

Which are the prominent players in the Luxury Vinyl Plank Flooring market?

Which region holds the maximum share in the Luxury Vinyl Plank Flooring market?

What will be the CAGR of the Luxury Vinyl Plank Flooring market during the forecast period?

Which application segment emerged as the leading segment in the Luxury Vinyl Plank Flooring market?

What key trends are likely to emerge in the Luxury Vinyl Plank Flooring market in the coming years?

What will be the Luxury Vinyl Plank Flooring market size by 2028?

Which company held the largest share in the Luxury Vinyl Plank Flooring market?