Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Forecast to 2031 - Regional Analysis - by Type (Rigid and Flexible) and End User (Residential, Commercial, and Institutional)

Description

List of Tables

The Asia Pacific luxury vinyl tile (LVT) flooring market was valued at US$ 7,331.37 million in 2023 and is expected to reach US$ 15,411.86 million by 2031; it is estimated to register at a CAGR of 9.7% from 2023 to 2031.

Cost-Effectiveness of Luxury Vinyl Tiles (LVT) Flooring Boosts Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market

Luxury vinyl tiles (LVT) flooring's affordability compared to natural materials such as hardwood, stone, or ceramic tiles makes it an appealing option for consumers and businesses, especially for those who operate within tight budget constraints. Luxury vinyl tiles (LVT) offer a lower initial purchase price and deliver long-term value through their durability and low maintenance requirements. The ease of installation further enhances its cost-effectiveness, as the straightforward click-and-lock or adhesive installation methods reduce labor costs and construction timelines. This is particularly advantageous for large-scale projects where minimizing labor expenses is critical for staying within budget. Moreover, the long-term durability of luxury vinyl tiles (LVT) flooring contributes to its cost-effectiveness by minimizing replacement and repair expenses over time. Its resistance to scratches, stains, and wear ensures that it maintains its appearance and functionality even in high-traffic areas, reducing the need for frequent repairs or replacements.

The low maintenance requirements of luxury vinyl tiles (LVT) flooring further result in cost savings for homeowners and businesses, as it requires minimal cleaning and upkeep compared to other flooring materials. Furthermore, the customization options available with luxury vinyl tiles (LVT) flooring allow consumers to achieve their desired aesthetic without incurring high costs associated with customizing natural materials. Additionally, advancements in luxury vinyl tiles (LVT) technology have led to the development of energy-efficient and insulating variants, further enhancing its cost-effectiveness by helping to regulate indoor temperatures and reduce energy bills.

Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Overview

Asia Pacific is the largest continent in the world and is renowned for its varied culture. China, Japan, India, South Korea, and Australia are among the major economies in Asia Pacific. Urbanization and rapid industrialization across China, India, Japan, and Southeast Asian nations are fueling the demand for LVT flooring. With increasing urban populations, there is a surge in construction projects, including residential complexes, commercial buildings, and infrastructure projects. As developers and homeowners seek cost-effective yet visually appealing flooring solutions, LVT has emerged as a preferred choice due to its versatility, durability, and ability to mimic natural materials. For instance, according to the report by the Department for Promotion of Industry and Internal Trade (DPIIT), the government of India has planned to boost the infrastructure and construction services through several policies such as open FDI norms, large budget allocation to the infrastructure sector, and smart cities mission. The report also stated that the real estate industry in India is projected to reach US$ 1 trillion by 2031, along with an increased year-on-year infrastructure Capex by 34% to reach US$ 6.7 million.

Asia Pacific's diverse consumer base and cultural preferences influence LVT flooring trends. The urban population leans toward modern and minimalist designs, whereas people staying in rural areas prefer more traditional aesthetics. Manufacturers in the region respond to these diverse demands by offering a wide range of LVT designs, colors, and textures tailored to local preferences. Moreover, the LVT flooring market in Asia Pacific benefits from the region's growing middle class and rising disposable incomes. As consumers prioritize quality-of-life improvements and home aesthetics, there's a heightened demand for premium flooring options, including LVT. This trend is particularly evident in countries such as China and India, where the burgeoning middle class drives demand for housing and interior upgrades. In addition to residential applications, the Asia Pacific commercial sector presents significant opportunities for LVT flooring. Retail outlets, hospitality establishments, healthcare facilities, and corporate offices increasingly choose LVT for its durability, ease of maintenance, and design flexibility. The region's booming tourism industry further fuels demand for LVT in hotels, resorts, and entertainment venues.

Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Segmentation

The Asia Pacific luxury vinyl tile (LVT) flooring market is segmented based on type, end user, and country.

Based on type, the Asia Pacific luxury vinyl tile (LVT) flooring market is bifurcated into rigid and flexible. The rigid segment held a larger share in 2023.

In terms of end user, the Asia Pacific luxury vinyl tile (LVT) flooring market is segmented into residential, commercial, and institutional. The residential segment held the largest share in 2023.

Based on country, the Asia Pacific luxury vinyl tile (LVT) flooring market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific luxury vinyl tile (LVT) flooring market in 2023.

Wedge Industries Ltd; Mohawk Industries, Inc.; Tarkett; Shaw Industries Group, Inc.; Interface Inc; AWI Licensing, LLC; Gerflor Group; and Forbo Holding AG are some of the leading companies operating in the Asia Pacific luxury vinyl tile (LVT) flooring market.

Product Code: BMIRE00030882

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions

4. Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Landscape

4.1 Overview
4.2 Porter's Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.1 Threat of New Entrants
- 4.2.2 Intensity of Competitive Rivalry
- 4.2.3 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users

5. Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Key Market Dynamics

5.1 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growing Residential Construction
- 5.2.2 Cost-Effectiveness of Luxury Vinyl Tiles (LVT) Flooring
5.3 Market Restraints
- 5.3.1 Environmental Concerns
5.4 Market Opportunities
- 5.4.1 Expansion of Commercial Sector
5.5 Future Trends
- 5.5.1 Technological Advancements
5.6 Impact of Drivers and Restraints:

6. Luxury Vinyl Tile (LVT) Flooring Market - Asia Pacific Market Analysis

6.1 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Volume (Million Sq. Meter), 2020-2031
6.2 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Revenue (US$ Million), 2020-2031
6.4 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Forecast and Analysis

7. Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Volume and Revenue Analysis - by Type

7.1 Rigid
- 7.1.1 Overview
- 7.1.2 Rigid: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
- 7.1.3 Rigid: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Volume and Forecast to 2031 (Million Sq. Meter)
7.2 Flexible
- 7.2.1 Overview
- 7.2.2 Flexible: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
- 7.2.3 Flexible: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Volume and Forecast to 2031 (Million Sq. Meter)

8. Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Revenue Analysis - by End User

8.1 Residential
- 8.1.1 Overview
- 8.1.2 Residential: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Commercial
- 8.2.1 Overview
- 8.2.2 Commercial: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Institutional
- 8.3.1 Overview
- 8.3.2 Institutional: Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)

9. Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market -Country Analysis

9.1 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Overview
- 9.1.1 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.1 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Volume and Forecast and Analysis - by Country
  - 9.1.1.2 Asia Pacific Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast and Analysis -by Country
  - 9.1.1.3 Australia Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.3.1 Australia Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
    - 9.1.1.3.2 Australia Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
  - 9.1.1.4 China Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.4.1 China Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
    - 9.1.1.4.2 China Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
  - 9.1.1.5 India Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.5.1 India Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
    - 9.1.1.5.2 India Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
  - 9.1.1.6 Japan Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.6.1 Japan Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
    - 9.1.1.6.2 Japan Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
  - 9.1.1.7 South Korea Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.7.1 South Korea Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
    - 9.1.1.7.2 South Korea Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
  - 9.1.1.8 Rest of APAC Luxury Vinyl Tile (LVT) Flooring Market - Revenue and Forecast to 2031 (US$ Million)
    - 9.1.1.8.1 Rest of APAC Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
    - 9.1.1.8.2 Rest of APAC Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition

12. Company Profiles

12.1 Wedge Industries Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Mohawk Industries Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Tarkett
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Shaw Industries Group Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Interface Inc
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 AHF LLC
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Gerflor SAS
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Forbo Holding AG
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments

13. Appendix

13.1 About The Insight Partners