Luxury Vinyl Tiles Market worth $21.72 billion by 2031 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Nov. 3, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the Luxury Vinyl Tiles Market projected to grow from USD 18.22 billion in 2026 to USD 21.72 billion by 2031, reflecting a compound annual growth rate of 3.57% over the forecast period.

Browse 200 market data Tables and 40 Figures spread through 300 Pages and in-depth TOC on 'Luxury Vinyl Tiles Market - Global Forecast to 2031'

Luxury Vinyl Tiles Market Size & Forecast:

• Market Size Available for Years: 2021-2031
• 2026 Market Size: USD 18.22 billion
• 2031 Projected Market Size: USD 21.72 billion
• CAGR (2026-2031): 3.57%

Luxury Vinyl Tiles Market Trends & Insights:

• The luxury vinyl tiles market is expanding as consumers, builders, and developers seek cost-effective, durable, and aesthetically versatile flooring solutions for residential and commercial applications. Growing construction and renovation activity, along with rising demand for flooring that replicates the look of natural wood and stone, is driving market growth. Rising adoption of LVT in residential buildings, offices, retail spaces, hospitality facilities, and healthcare environments is further driving demand. The need for easy installation, low maintenance, water resistance, and durability in high-traffic areas is driving LVT adoption as an alternative to conventional flooring materials. These trends are supporting the adoption of click-LVT, loose-lay, glue-down, and self-adhesive formats, offering greater installation flexibility for different project requirements. In addition, manufacturers are investing in digital printing, advanced surface treatments, improved wear layers, and sustainable materials to enhance product performance, design options, and environmental attributes, thereby supporting broader LVT adoption across new construction, renovation, and refurbishment projects.
• North America accounted for the dominant share of 72.1% of the global luxury vinyl tiles market in 2025.
• By type, the rigid segment is expected to register the highest CAGR of 3.8% from 2026 to 2031, in terms of value.
• By product type, the click LVT segment is expected to register the highest CAGR of 4.1% from 2026 to 2031, in terms of value.
• By end-use sector, the commercial segment is expected to dominate the market, registering the highest CAGR of 3.76%.
• By distribution channel, the online retail segment is expected to register the highest CAGR of 3.9% from 2026 to 2031, in terms of value.
• Mohawk Industries Inc., Tarkett, Shaw Industries Group, Inc., Forbo Group, and Gerflor were identified as Star players in the luxury vinyl tiles market, as they have focused on innovation, have broad industry coverage, and have strong operational & financial strength.
• Novalis, Zhangjiagang Yihua Rundong New Material Co., Ltd., and Beaulieu International Group, among others, have distinguished themselves among startups and SMEs due to their strong product portfolio and business strategy.

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The construction sector is experiencing rapid growth, which is expected to boost the luxury vinyl tiles market. The rising number of residential and commercial buildings, along with increased renovations and maintenance work, will contribute to the growing demand for LVTs. Additionally, the urban population's desire for decorative interiors driven by enhanced lifestyles may further accelerate growth of the LVT market.

Rigid luxury vinyl tiles to be fastest-growing segment in the market

The rigid segment has recently become the leading category in terms of value. Rigid-type LVT is recognized for its durability, resisting dents, scratches, and temperature fluctuations. This feature makes it particularly well-suited for high-traffic areas and environments with higher moisture levels. One of the main advantages of rigid-type LVT is its compatibility with various existing subfloors, including concrete, plywood, and previous flooring materials. It can be installed easily using either a clicklock or glue-down method. This straightforward installation process not only reduces labor costs but also saves time, making it a popular choice among industry professionals and DIY enthusiasts.

Click LVT segment to register fastest growth during forecast period

Click LVT is recognized as one of the fastest-growing segments in the luxury vinyl tiles industry. Its rising popularity can be attributed to several key factors, including an easy installation process, cost-effectiveness, and versatility. This type of flooring is particularly favored for both residential and commercial use. The innovative click-lock mechanism allows for quick, glue-free installation, significantly reducing labor time and costs. This feature is especially beneficial for renovation projects, making Click LVT an appealing choice for those looking to update their spaces efficiently.

Retail stores segment to account for largest market share during forecast period

The sales of LVT are experiencing significant growth within retail distribution channels, largely attributed to enhanced in-store experiences, increased consumer trust, and better accessibility. Retail environments, especially large home improvement chains and specialized flooring stores, allow customers to physically see, touch, and compare various LVT products. This tactile engagement not only helps customers make informed decisions but also boosts their confidence in the quality and design of the products.

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Residential sector to account for largest market share during forecast period

The residential sector accounts for the larger share of the overall luxury vinyl tiles market. The growth of the market in the residential segment is driven by a variety of home renovation and maintenance projects. As spending on residential construction is expected to increase significantly, particularly in the dynamic and rapidly developing regions of Asia Pacific and Latin America, a notable trend of urbanization is taking place. This urbanization not only transforms landscapes but also accelerates the growth rate of residential construction.

North America to account for largest market share during forecast period

North America is recognized as the leading region in this market. The continuous growth of residential and commercial construction activities in the US and Canada, particularly in recent years, has significantly increased the demand for floor and wall covering materials. Luxury vinyl tiles have gained popularity due to their durability, versatility, and affordability. Furthermore, the rising trend of renovation and remodeling projects across North America has further intensified the demand for luxury vinyl tiles.

Key Players

Leading players in the luxury vinyl tiles companies include Mohawk Industries, Inc. (US), Tarkett (France), Shaw Industries Group, Inc. (US), Interface, Inc. (US), Gerflor (France), Forbo Group (Switzerland), Armstrong Flooring (US), Mannington Mills, Inc. (US), Responsive Industries Ltd. (India), and LX Hausys (South Korea), among others.

Investment Funding

The investments in the luxury vinyl tile (LVT) market are increasingly focused on increasing production capacity, manufacturing and process-efficiency capabilities, and developing high-performance luxury flooring products. As demand for better, more design-focused flooring solutions increases, flooring manufacturers are investing in new production and expansion facilities for LVT, advanced extrusion and calendaring equipment, digital printing and surface finishing, and automated production and quality-control systems. Companies are also investing in recyclable and recycled-content materials, low-VOC formulations, phthalate-free products, dimensional stability, wear and scratch resistance, and waterproof flooring solutions for residential and commercial applications. Furthermore, capacity expansion and regional manufacturing investments help companies enhance supply-chain resilience and adapt to growing demand in North America, Europe, Asia Pacific, and other regions.

Revenue Shift

Based on the revenue mix of companies in the LVT market, two distinct revenue streams emerge: companies that make their living on resilient flooring and companies that generate revenue across many flooring categories. Specialized manufacturers tend to focus on LVT (luxury vinyl plank), luxury vinyl plank (LVP), sheet vinyl, and other resilient products, while diversified flooring companies tend to have a more mixed portfolio that includes carpet, hardwood, laminate, ceramic tile, and resilient products. In LVT, premium and differentiated products that are not only available but also growing in revenue include wood-look and stone-look options, upgraded wear-layer constructions, rigid-core and multilayer products, waterproof flooring, and products for challenging commercial applications. Diversified floors can capitalize on larger product offerings, existing distribution systems and customer relationships with residential and commercial customers, while specialized flooring manufacturers can dedicate more time to resilient flooring technologies and product innovation.

Company Revenue Share Details

Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett, Interface, Inc., and Armstrong Flooring are the key companies in the luxury vinyl tiles (LVT) market, each of which is looking to expand its product offerings, invest in manufacturing capacity, develop sustainable and recyclable flooring solutions, grow its geographic footprint, and create innovative products.

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