Market Trends of ASEAN Luxury Vinyl Tile (LVT) Industry
This section covers the major market trends shaping the ASEAN Luxury Vinyl Tile Market according to our research experts:
Increasing Consumption of LVT in the ASEAN Region
A luxury vinyl tile (LVT) enhances the aesthetic appeal of a building, along with properties such as durability, comfort, and protection from extreme weather conditions. These factors are projected to drive the residential and commercial sectors during the forecast period.
The use of LVT flooring solutions in residential and commercial buildings also enhances the aesthetic appeal and provides durability and comfort. Luxury vinyl tiles are preferred for bathrooms, kitchens, laundry rooms, and basements due to their waterproof features in residential buildings. Further, LVTs do not trap dust and pet dander in the bedrooms. LVT is resistant to marks and scuffs, particularly when made with a UV-cured coating. While durability is always a consideration when selecting a flooring material, it is an absolute must for high-traffic applications such as airport terminals, schools, hospitals, and restaurants. All these factors are projected to drive the demand for LVT flooring solutions in the residential sector.
The Flexible LVT Segment is in Demand Due to Its Inherit Properties
The flexible segment is in huge demand in the luxury vinyl tile flooring market, as it is affordable and is installed in regions that have extreme weather conditions. The growth of the flexible segment remains high due to its properties, which makes it a preferred luxury vinyl tile flooring solution for residential and commercial applications. The flexible luxury vinyl tile flooring solutions are considered suitable for almost all applications, such as residential and commercial. It is a traditional glue-down flooring material, and it has several properties such as durability, flexibility, and ease of installation.
