Middle East & Africa Luxury Vinyl Tile Flooring Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00030914 | Category: Chemicals and Materials
No. of Pages: 150 | Report Code: BMIRE00030914 | Category: Chemicals and Materials
The Middle East & Africa luxury vinyl tile flooring market size is expected to reach US$ 2,058.23 million by 2031 from US$ 1,130.56 million in 2023. The market is estimated to record a CAGR of 7.8% from 2023 to 2031.
The Middle East & Africa LVT flooring market is segmented into South Africa, Saudi Arabia, Brazil, and the Rest of Middle East & Africa. According to the UN World Urbanization Prospects, the rate of urbanization in the Middle East & Africa has grown drastically in a few years, reaching more than 80% for the Middle East and 50% for Africa in 2023. The rising urbanization rates have surged construction activities, particularly in the commercial and residential sectors. This, in turn, has accelerated the demand for modern and stylish flooring solutions. Moreover, rising disposable income levels across the Middle East & Africa have empowered consumers to invest more in enhancing their living spaces. As a result, there has been a growing preference for premium and aesthetically pleasing flooring options such as LVT. The harsh climatic conditions prevalent in many parts of the Middle East & Africa, including high temperatures and humidity levels, have necessitated the use of durable and moisture-resistant flooring materials. LVT flooring with its water-resistant properties and resilience to wear and tear, has emerged as a popular choice for both residential and commercial applications in the region. Furthermore, the Middle East & Africa's hospitality sector, which includes hotels, resorts, and luxury accommodation facilities, has been a key contributor to the demand for LVT flooring. The hospitality industry places a premium on aesthetics, durability, and ease of maintenance, making LVT an ideal flooring solution to meet these requirements.
Key segments that contributed to the derivation of the luxury vinyl tile flooring market analysis are type and end user.
Improved printing technologies have allowed for more realistic and intricate designs, enhancing the aesthetic appeal and making 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 LVT flooring. Waterproof 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 LVT, further driving its demand in both residential and commercial sectors.
The incorporation of scratch-resistant properties enhances the durability and longevity of 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.
Based on country, the Middle East & Africa luxury vinyl tile flooring market comprises Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held the largest share in 2023.
Saudi Arabia is among the largest economies in the Middle East & Africa. Saudi Arabia is planning to build over 340,000 houses during 2020–2025. This can be attributed to a rapid boost in demand for houses due to steady population growth. There will be approximately 70 projects over the next five years, valued at ~US$ 17.3 billion. Saudi Arabia completed housing projects worth nearly US$ 16 billion over the past three years to provide more than 103,000 houses, apartments, and villas to its citizens. Rapid urbanization, along with increased government spending on infrastructure development through programs such as Saudi Vision 2030, is leading to growth in construction activities, which is expected to significantly help LVT flooring market growth. The increase in residential and commercial construction in Saudi Arabia contributes to the demand for LVT flooring.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,130.56 Million |
| Market Size by 2031 | US$ 2,058.23 Million |
| Global CAGR (2023 - 2031) | 7.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
Some of the key players operating in the 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 among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Middle East & Africa Luxury Vinyl Tile Flooring Market is valued at US$ 1,130.56 Million in 2023, it is projected to reach US$ 2,058.23 Million by 2031.
As per our report Middle East & Africa Luxury Vinyl Tile Flooring Market, the market size is valued at US$ 1,130.56 Million in 2023, projecting it to reach US$ 2,058.23 Million by 2031. This translates to a CAGR of approximately 7.8% during the forecast period.
The Middle East & Africa Luxury Vinyl Tile Flooring Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Luxury Vinyl Tile Flooring Market report:
The Middle East & Africa Luxury Vinyl Tile Flooring Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Luxury Vinyl Tile Flooring Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Luxury Vinyl Tile Flooring Market value chain can benefit from the information contained in a comprehensive market report.
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