The global rigid luxury vinyl tile market is anticipated to grow at a CAGR of 9.8% during the forecast period (2022-2028). The rigid luxury vinyl tile market is anticipated to increase with the building industry’s rapid expansion. Rigid luxury vinyl tile flooring is more cost-effective and efficient than other types of flooring currently on the market, and additional characteristics of rigid luxury vinyl tile, such as cost-effectiveness, lightweight, and low maintenance, make it an ideal choice for flooring in the construction industry. Product developments are becoming increasingly popular in the rigid luxury vinyl tile flooring business. The major companies in rigid luxury vinyl tile flooring are concentrating their efforts on developing novel goods that use sophisticated technology to incorporate natural materials into products that are more stable and environmentally friendly.
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The rigid luxury vinyl tile is a versatile artificial tile element that is liquid and smear-resistant. It is cost-effective and has a variety of properties such as durability, changeable treatment, and layout options, making it suitable for use in hospitals, schools, factories, and apartments. Moreover, since the tiling is comfortable to walk on and reduces collision turbulence, it is sometimes used as an alternative for more eminent sustaining surfaces such as matting. During the forecast period, the rigid luxury vinyl tile flooring market is expected to develop faster in the functional sector than in the type segment. It is a classic glue-down flooring material with various qualities like durability, flexibility, ease of installation, and cost-effectiveness, all of which are expected to fuel the segment’s rise. Almost all applications, including residential and commercial, are regarded as suitable for the functional category.
Some major players in the market includeAWI Licensing LLC, Gerflor DLW GmbH, Mannington Mills, Mohawk Industries, and Shaw Industries Group, Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.
Shaw Industries Group, Inc. offers ANTICA HD PLUS. Antica HD Plus mixes blended species, hues, and embossed-in-register textures for timeless appeal and design-forward images, inspired by a synthesis of aesthetics. For simplicity of installation, it has wire brush oak visuals, rustic high color contrast, and mixed-plank visuals. Antica HD Plus has an Armourbead wear layer for improved performance and a Soft Silence acoustical pad for greater comfort and noise reduction.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- AWI Licensing LLC, Gerflor DLW GmbH, Mannington Mills, Inc., Mohawk Industries, Inc., Shaw Industries Group, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Rigid Luxury Vinyl Tile Market Report by Segment
By Type
- Decorative
- Functional
By End-User
- Commercial Use
- Residential Use
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