At 7.8% CAGR, Middle East & Africa Luxury Vinyl Tile (LVT) Flooring Market is Projected to be Worth US$ 2,058.23 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa luxury vinyl tile (LVT) 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. Technological advancements and expansion of commercial sector are among the critical factors attributed to the Middle East & Africa luxury vinyl tile (LVT) flooring market expansion.

Improved printing technologies have allowed for more realistic and intricate designs, enhancing the aesthetic appeal and making luxury vinyl tiles (LVT) flooring a more attractive option for consumers seeking the look of natural materials such as wood or stone. This innovation opens up new market segments, such as high-end residential properties and design-conscious commercial spaces, where the visual impact of flooring plays a crucial role.

The integration of enhanced performance features such as waterproofing and scratch resistance significantly broadens the applications of luxury vinyl tiles (LVT) flooring. Waterproof luxury vinyl tiles (LVT) allow for installation in moisture-prone areas such as kitchens, bathrooms, and basements, where traditional flooring options, including hardwood or laminate, may not be suitable. This expansion into previously untapped segments of the market increases the versatility and appeal of luxury vinyl tiles (LVT), further driving its demand in both residential and commercial sectors.

The incorporation of scratch-resistant properties enhances the durability and longevity of luxury vinyl tiles (LVT) flooring, making it ideal for high-traffic areas in commercial settings such as retail stores, restaurants, and healthcare facilities. This enhanced durability not only reduces maintenance costs but also extends the lifespan of the flooring, providing long-term value to customers.

On the contrary, environmental concerns hamper the growth of Middle East & Africa luxury vinyl tile (LVT) flooring market.

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

In terms of end user, the Middle East & Africa luxury vinyl tile (LVT) flooring market is segmented into residential, commercial, and institutional. The residential segment held 40.3% share of the Middle East & Africa luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 455.33 million. It is estimated to garner US$ 862.73 million by 2031 to expand at 8.3% CAGR during 2023-2031.

Based on country, the Middle East & Africa luxury vinyl tile (LVT) flooring market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 37.3% share of Middle East & Africa luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 421.91 million. It is projected to garner US$ 798.13 million by 2031 to expand at 8.3% CAGR during 2023-2031.

Key players operating in the Middle East & Africa luxury vinyl tile (LVT) flooring market are Mohawk Industries, Inc.; Tarkett; Shaw Industries Group, Inc.; Interface Inc; AHF LLC; and Gerflor Group, among others.

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