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US Luxury Vinyl Tile (LVT) Flooring

Publisher Freedonia Group
Published Feb 22, 2024
Length 135 Pages
SKU # FG18553877

Description

US Luxury Vinyl Tile (LVT) Flooring


Demand for luxury vinyl tile (LVT) flooring in the US is forecast to increase 8.3% per year to 12.5 billion square feet in 2027, supported by:
  • a continuing shift in US consumer preferences away from carpet to LVT and other hard surface flooring products
  • rising residential remodeling activity in the US through 2027
  • LVT’s ability to improve a home’s market value
  • increasing usage in the commercial market, as flexible core products allow for the replacement of small sections or individual tiles rather than the entire floor

LVT to Become Most Popular Product in US, Ending Carpet’s Decades-Long Dominance


In 2024, LVT flooring is projected to surpass carpeting as the most popular flooring product in the US. Luxury vinyl tile has seen explosive growth over the past decade, ranking among the fastest growing products ever introduced to the US flooring market. Volume demand for LVT rose 28% per year from 2012 to 2022, increasing its share from 4% to 31% of the total market. Demand has and will continue to be supported by its favorable performance properties relative to carpet, such as ease of installation, superior aesthetics, and improved durability.

Wood Plastic Composite (WPC) to be Fastest Growing Flooring Product in the USDemand for WPC flooring is expected to grow at a double-digit rate during the forecast period. Wood-plastic composite flooring products will not only be the fastest growing LVT type, but also the fastest growing flooring product in the US.

Although WPC is the most expensive type of LVT flooring, its usage will continue to rise at a rapid rate because of its product and performance properties, including:
  • better sound absorption and insulation
  • greater resiliency and underfoot comfort
This Freedonia industry study analyzes the $12.4 billion luxury vinyl tile industry. It presents historical demand data (2012, 2017, and 2022) and forecasts (2027 and 2032) by product (rigid core and flexible core), market (residential, nonresidential) and application (new, remodeling). Annual historical data and forecasts are also provided from 2019 to 2026.

Table of Contents

135 Pages
    • Figure 1-1. US Luxury Vinyl Tile Flooring Market Outlook
    • Report Details
    • Study Scope & Product Description
    • Short-Term Luxury Vinyl Tile Trends
    • Historical Market Trends
    • Demand by Product
    • Markets
    • New vs. Remodeling
    • Pricing Trends
    • Competitive Products
    • Market Share
    • Building Construction Outlook
    • Shifts in Consumer Preferences
    • Technology & Innovation
    • Scope & Product Description
    • Types
    • Markets
    • New vs. Remodeling
    • Scope & Product Description
    • Types
    • Markets
    • New vs. Remodeling
    • Market Scope
    • Market Outlook
    • New Construction
    • Remodeling
    • Demand by Product
    • Housing Types
    • Market Scope
    • Market Outlook
    • New Construction
    • Remodeling
    • Demand by Product
    • Building Types
    • Scope
    • Definitions
    • Freedonia Methodology
    • Study-Specific Methodology
    • Sources
    • Associations & Agencies
    • Related Studies & Reports
    • Macroeconomic Assumptions

Pricing

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