At 7.8% CAGR, Middle East & Africa Luxury Vinyl Tile Flooring Market is Projected to be WWorth US$ 2058.23 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa luxury vinyl tile flooring market was valued at US$ 1,130.56 million in 2023 and is expected to reach US$ 2,058.23 million by 2031, registering a CAGR of 7.8% from 2023 to 2031. Growing residential construction and technological advancements are among the critical factors attributed to drive the Middle East & Africa luxury vinyl tile flooring market.

The rising urbanization, particularly in emerging economies, has intensified the need for new residential spaces, prompting increased construction activities. LVT flooring has emerged as a favored choice among homeowners and builders due to its versatile characteristics and practical benefits. The key factor propelling its popularity is the availability of an extensive range of design options, ranging from realistic wood and stone looks to innovative tile patterns, catering to diverse aesthetic preferences and interior design trends. Moreover, the cost-effectiveness of LVT flooring compared to natural materials such as hardwood or stone makes it an attractive proposition for residential construction projects seeking to optimize budget allocations without compromising on quality or style. Additionally, the ease of installation and low maintenance requirements associated with LVT flooring contribute to its appeal, facilitating smoother construction processes and reducing long-term upkeep expenses for homeowners. Its durability and longevity further enhance its value proposition, offering a resilient flooring solution capable of withstanding the rigors of everyday life while maintaining its aesthetic appeal over time.

The preference for modern features and sustainable materials in residential construction projects aligns well with the characteristics of LVT flooring, which often incorporates eco-friendly components and advanced manufacturing techniques to minimize environmental impact. As consumers increasingly prioritize sustainable living practices, the availability of eco-conscious flooring options becomes crucial, further driving the adoption of LVT in the residential construction market. Thus, the growing residential construction sector significantly drives the LVT flooring market.

On the contrary, environmental concerns hamper the growth of Middle East & Africa Luxury Vinyl Tile Flooring Market.

Based on type, the Middle East & Africa luxury vinyl tile flooring market is bifurcated into rigid and flexible. The rigid segment held 71.5% market share in 2023, amassing US$ 808.25 million. It is projected to garner US$ 1,493.05 million by 2031 to register 8.0% CAGR during 2023–2031.

By end user, the Middle East & Africa luxury vinyl tile flooring market is segmented into residential, commercial, industrial, and institutional. The residential segment held 40.3% share of Middle East & Africa luxury vinyl tile flooring market in 2023, amassing US$ 455.33 million. It is projected to garner US$ 862.55 million by 2031 to expand at 8.3 % CAGR from 2023 to 2031.

Based on country, the Middle East & Africa luxury vinyl tile flooring market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 37.3% share of Middle East & Africa luxury vinyl tile flooring market in 2023. It was assessed at US$ 421.91 million in 2023 and is likely to hit US$ 798.13 million by 2031, registering a CAGR of 8.3% during 2023 to 2031.

Key players operating in the luxury vinyl tile flooring market are Wedge Industries Ltd, Mohawk Industries Inc, Tarkett, Shaw Industries Group Inc, Interface Inc, AHF LLC, Gerflor SAS, Congoleum, Mannington Mills Inc, and Forbo Holding AG, among others.

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