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Various reforms and regulations introduced by developing nations for boosting the infrastructure and real estate industries drive the growth of the global luxury vinyl tiles market.

Rising consumer demand for luxury vinyl tiles from emerging economies is an opportunity for the market players.Key PlayersThe prominent players in the global luxury vinyl tiles market are Interface, Inc. (US), Tarkett (France), Gerflor (France), Shaw Industries Group, Inc., (US), Mannington Mills, Inc.  (US), Armstrong Flooring, Inc. (US), James Halstead plc (UK), Mohawk Industries (US), and Forbo Group (Switzerland).Vinylasa (Mexico), The Dixie Group, Inc. (US), Adore Floors, Inc. (US), American Biltrite (Canada) Ltd. (Canada), Milliken & Company (US), and Responsive Industries Limited (India) are some other key players operating in the global luxury vinyl tiles market.Asia-Pacific to dominate the global luxury vinyl tiles market during the forecast periodOn the basis of region, the global luxury vinyl tiles market is segmented as North America, Asia-Pacific, Europe, and the rest of the world.

Asia-Pacific dominated the global market, followed by North America, primarily due to the growth in construction industry, mainly in China and India.

The increasing real estate investment and growing number of Special Economic Zones (SEZ) in developing countries, mainly in India, are the other major factors driving the market growth in Asia-PacificNorth America has witnessed significant growth in the construction industry, owing to the increased home improvement and renovation projects in the region.

As per the US Census Bureau data, the total annual value of private construction in the US is USD 992,528 million in 2018, USD 539,800 million of which is for residential construction.

Moreover, the US is home for the key companies operating in the market such as Mohawk Industries, Shaw Industries Group, Inc., Interface, Inc., Armstrong Flooring, Inc., and Mannington Mills, Inc.The flexible segment is set to occupy a large share of the global luxury vinyl tiles marketThe global market is segmented on the basis of type as flexible and rigid.

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The luxury vinyl tiles (LVT) flooring market is projected to grow from USD 18.0 billion in 2019 to USD 31.4 billion by 2024, recording a CAGR of 11.7% during the forecast period.

The growth of the LVT flooring market is attributed to the high growth in the construction industry across regions.

Factors such as the rise in the number of renovation & remodeling activities, increasing population & urbanization, and the high durability of LVT flooring is projected to drive its demand.♦ Download Detailed PDF Brochure Here: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105150640 The LVT flooring market is dominated by leading key players such Mohawk Industries (US), Tarkett (France), Forbo (Switzerland), Shaw Industries, Inc. (US), and Interface (US).

These players have adopted various growth strategies such as expansions, investments, new product developments, acquisitions, partnerships, agreements, and joint ventures to increase their market share and enhance their product portfolios.The new product development strategy accounted for the largest share of all the strategic developments that took place in the LVT flooring market between January 2015 and March 2019.

Key players such as Forbo (Switzerland), Interface (US), and Gerflor (France) adopted these strategies to strengthen their product portfolios, expand their product portfolio, and enhance their growth prospects in the LVT flooring market.Mohawk Industries is the leading flooring manufacturer, which primarily focuses on enhancing the residential and commercial spaces across the regions.

The company offers a range of LVT flooring solutions through its various brands, namely, Mohawk, Quick-step, Pergo, Moduleo design floors, and IVC Resilient design.