South & Central America Luxury Vinyl Tile Flooring Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The luxury vinyl tile (LVT) flooring market in South and Central America is projected to grow significantly, reaching approximately USD 1,044.21 million by 2031, up from USD 598.36 million in 2023. This growth represents a compound annual growth rate (CAGR) of 7.2% from 2023 to 2031.

Executive Summary and Market Analysis

The LVT flooring market in this region is primarily divided into three segments: Brazil, Argentina, and the Rest of South and Central America. The market has been on a steady upward trajectory, driven by various economic, social, and cultural factors. One of the main catalysts for this growth is the increasing urbanization across South and Central America, which has led to a heightened demand for modern and visually appealing flooring solutions in both residential and commercial sectors. As urban populations grow, there is a rising need for durable, low-maintenance, and aesthetically pleasing flooring options like LVT to cater to changing consumer preferences. According to the UN World Urbanization Prospects, Latin America has one of the highest urbanization rates globally, with over 81% of its population residing in urban areas, and nearly half living in cities with populations exceeding one million.

Economic growth and improved living standards in countries such as Brazil, Colombia, and Argentina have enhanced consumer purchasing power, allowing for greater investment in home renovations and interior design. This trend has led to an increased adoption of premium flooring materials, including LVT. Additionally, the diverse climate across South and Central America, which ranges from tropical rainforests to arid deserts, has influenced flooring material choices. LVT's resistance to moisture, heat, and humidity makes it particularly suitable for regions with extreme weather conditions, contributing to its popularity in areas with high temperatures and humidity.

Market Segmentation Analysis

The luxury vinyl tile flooring market can be segmented by type and end user.

By Type: The market is divided into rigid and flexible LVT, with rigid LVT holding a larger market share in 2023.
By End User: The market is categorized into residential, commercial, industrial, and institutional segments, with the residential sector accounting for the largest share in 2023.

Market Outlook

LVT flooring has become a preferred choice for various commercial spaces, including offices, retail stores, and hospitality venues, due to its durability, low maintenance, and design versatility. In high-traffic commercial environments, durability is crucial. LVT's robust construction allows it to endure the demands of busy areas without compromising its appearance or structural integrity. Furthermore, the low maintenance requirements of LVT-where routine sweeping and occasional mopping suffice-translate to lower operational costs and minimal downtime, enhancing overall business efficiency.

LVT also offers extensive design flexibility, with a wide range of colors, patterns, and textures available to match different aesthetic preferences and interior design styles. Its cost-effectiveness, considering its long-lasting durability and low upkeep, makes it an attractive investment for commercial applications, providing significant savings over time.

Country Insights

The South and Central America luxury vinyl tile flooring market includes Brazil, Argentina, and the Rest of South and Central America, with Brazil leading the market share in 2023. As the largest country in the region, Brazil is experiencing substantial growth in the LVT flooring sector, driven by advancements in technology and a booming construction industry. The rising demand for residential and commercial properties is expected to further stimulate the LVT market. According to the International Trade Administration, the Brazilian Ministry of Finance and the banking sector have initiated credit lines for the construction of over 530,000 new residential units in 2023, indicating a robust construction sector that will benefit LVT flooring.

Moreover, ongoing technological advancements in LVT flooring, including improvements in durability and aesthetics, along with customization options provided by retailers, are anticipated to support market growth.

Company Profiles

Key players in the luxury vinyl tile flooring market include 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. These companies are employing various strategies such as market expansion, product innovation, and mergers and acquisitions to enhance their product offerings and increase market share.

Product Code: BMIRE00030942

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. South and Central America LVT Flooring Market Landscape

4.1 Overview
4.2 Porter's Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 4.3.5 List of Vendors in the Value Chain

5. South and Central America LVT Flooring Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Residential Construction
- 5.1.2 Cost-Effectiveness of LVT Flooring
5.2 Market Restraints
- 5.2.1 Environmental Concerns
5.3 Market Opportunities
- 5.3.1 Expansion of Commercial Sector
5.4 Future Trends
- 5.4.1 Technological Advancements
5.5 Impact of Drivers and Restraints:

6. LVT Flooring Market -South and Central America Market Analysis

6.1 South and Central America LVT Flooring Market Volume (Million Sq. Meter), 2021-2031
6.2 South and Central America LVT Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 South and Central America LVT Flooring Market Revenue (US$ Million), 2023-2031
6.4 South and Central America LVT Flooring Market Forecast and Analysis

7. South and Central America LVT Flooring Market Volume and Revenue Analysis - by Type

7.1 Rigid
- 7.1.1 Overview
- 7.1.2 Rigid: South and Central America LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 7.1.3 Rigid: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Flexible
- 7.2.1 Overview
- 7.2.2 Flexible: South and Central America LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 7.2.3 Flexible: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. South and Central America LVT Flooring Market Volume and Revenue Analysis - by End User

8.1 Residential
- 8.1.1 Overview
- 8.1.2 Residential: South and Central America LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.1.3 Residential: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Commercial
- 8.2.1 Overview
- 8.2.2 Commercial: South and Central America LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.2.3 Commercial: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 Industrial
- 8.3.1 Overview
- 8.3.2 Industrial: South and Central America LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.3.3 Industrial: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.4 Institutional
- 8.4.1 Overview
- 8.4.2 Institutional: South and Central America LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.4.3 Institutional: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. South and Central America LVT Flooring Market - Country Analysis

9.1 South and Central America
- 9.1.1 South and Central America LVT Flooring Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.1 South and Central America LVT Flooring Market Volume and Forecast and Analysis - by Country
  - 9.1.1.2 South and Central America LVT Flooring Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.3 Brazil: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.3.1 Brazil: South and Central America LVT Flooring Market Share - by Type
    - 9.1.1.3.2 Brazil: South and Central America LVT Flooring Market Share - by End User
  - 9.1.1.4 Argentina: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.4.1 Argentina: South and Central America LVT Flooring Market Share - by Type
    - 9.1.1.4.2 Argentina: South and Central America LVT Flooring Market Share - by End User
  - 9.1.1.5 Rest of South and Central America: South and Central America LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.5.1 Rest of South and Central America: South and Central America LVT Flooring Market Share - by Type
    - 9.1.1.5.2 Rest of South and Central America: South and Central America LVT Flooring Market Share - by End User

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition

12. Company Profiles

12.1 Wedge Industries Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Mohawk Industries Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Tarkett
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Shaw Industries Group Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Interface Inc
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 AHF LLC
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Gerflor SAS
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Congoleum
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Mannington Mills Inc
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Forbo Holding AG
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners