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South & Central America Luxury Vinyl Tile (LVT) Flooring Market Forecast to 2031
South & Central America Luxury Vinyl Tile (LVT) Flooring Market Forecast to 2031 – Regional Analysis – by Type (Rigid and Flexible) and End User (Residential, Commercial, and Institutional)
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Description
Technological Advancements Fuel South & Central America Luxury Vinyl Tile (LVT) Flooring Market
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.
South & Central America Luxury Vinyl Tile (LVT) Flooring Market Overview
The luxury vinyl tiles (LVT) flooring market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. In South & Central America, the luxury vinyl tiles (LVT) flooring market has been experiencing steady growth propelled by various economic, social, and cultural factors. Increasing urbanization acts as a significant growth driver across South & Central American countries, leading to a rising demand for modern and aesthetically appealing flooring solutions in both residential and commercial sectors. As urban populations expand, there is a growing need for durable, low-maintenance, and visually attractive flooring options such as LVT to meet the evolving preferences of consumers. For instance, according to UN World Urbanization Prospects, Latin America is among the regions with the highest rates of urbanization worldwide, with over 81% of the population living in urban areas and close to 50% of the population living in cities larger than one million inhabitants.
Economic development and improving living standards in countries such as Brazil, Colombia, and Argentina have strengthened consumer purchasing power, enabling them to invest more in home renovations and interior décor. This trend has surged the adoption of premium flooring materials such as LVT. Furthermore, the climate diversity across South & Central America, ranging from tropical rainforests to arid deserts, has influenced the choice of flooring materials. LVT’s resistance to moisture, heat, and humidity makes it particularly suitable for regions with high temperatures and humidity levels, ensuring its popularity in areas prone to climatic extremes.
South & Central America Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast to 2031 (US$ Million)
South & Central America Luxury Vinyl Tile (LVT) Flooring Market Segmentation
The South & Central America luxury vinyl tile (LVT) flooring market is segmented based on type, end user, and country.
Based on type, the South & Central America luxury vinyl tile (LVT) flooring market is bifurcated into rigid and flexible. The rigid segment held a larger share in 2023.
In terms of end user, the South & Central America luxury vinyl tile (LVT) flooring market is segmented into residential, commercial, and institutional. The residential segment held the largest share in 2023.
Based on country, the South & Central America luxury vinyl tile (LVT) flooring market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America luxury vinyl tile (LVT) flooring market in 2023.
Mohawk Industries, Inc.; Tarkett; Shaw Industries Group, Inc.; Interface Inc; AWI Licensing, LLC; Gerflor Group; and Forbo Holding AG are some of the leading companies operating in the South & Central America luxury vinyl tile (LVT) flooring market.
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According to Business Market Insights’ research, the South & Central America luxury vinyl tile (LVT) flooring market was valued at US$ 598.36 million in 2023 and is expected to reach US$ 1,044.21 million by 2031, registering a CAGR of 7.2% from 2023 to 2031. Cost-effectiveness of luxury vinyl tiles (LVT) flooring and growing residential construction are among the critical factors attributed to the South & Central America luxury vinyl tile (LVT) flooring market expansion.
Luxury vinyl tiles (LVT) flooring’s affordability compared to natural materials such as hardwood, stone, or ceramic tiles makes it an appealing option for consumers and businesses, especially for those who operate within tight budget constraints. Luxury vinyl tiles (LVT) offer a lower initial purchase price and deliver long-term value through their durability and low maintenance requirements. The ease of installation further enhances its cost-effectiveness, as the straightforward click-and-lock or adhesive installation methods reduce labor costs and construction timelines. This is particularly advantageous for large-scale projects where minimizing labor expenses is critical for staying within budget. Moreover, the long-term durability of luxury vinyl tiles (LVT) flooring contributes to its cost-effectiveness by minimizing replacement and repair expenses over time. Its resistance to scratches, stains, and wear ensures that it maintains its appearance and functionality even in high-traffic areas, reducing the need for frequent repairs or replacements.
The low maintenance requirements of luxury vinyl tiles (LVT) flooring further result in cost savings for homeowners and businesses, as it requires minimal cleaning and upkeep compared to other flooring materials. Furthermore, the customization options available with luxury vinyl tiles (LVT) flooring allow consumers to achieve their desired aesthetic without incurring high costs associated with customizing natural materials. Additionally, advancements in luxury vinyl tiles (LVT) technology have led to the development of energy-efficient and insulating variants, further enhancing its cost-effectiveness by helping to regulate indoor temperatures and reduce energy bills.
On the contrary, environmental concerns hamper the growth of South & Central America luxury vinyl tile (LVT) flooring market.
Based on type, the South & Central America luxury vinyl tile (LVT) flooring market is bifurcated into rigid and flexible. The rigid segment held 72.9% share of the South & Central America luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 436.27 million. It is projected to garner US$ 771.21 million by 2031 to expand at 7.4% CAGR during 2023-2031.
In terms of end user, the South & Central America luxury vinyl tile (LVT) flooring market is segmented into residential, commercial, and institutional. The residential segment held 66.3% share of the South & Central America luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 396.99 million. It is estimated to garner US$ 715.52 million by 2031 to expand at 7.6% CAGR during 2023-2031.
Based on country, the South & Central America luxury vinyl tile (LVT) flooring market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 44.7% share of South & Central America luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 267.35 million. It is projected to garner US$ 480.13 million by 2031 to expand at 7.6% CAGR during 2023-2031.
Key players operating in the South & Central America luxury vinyl tile (LVT) flooring market are Mohawk Industries, Inc.; Tarkett; Shaw Industries Group, Inc.; Interface Inc; AWI Licensing, LLC; Gerflor Group; and Forbo Holding AG., among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in South & Central America luxury vinyl tile (LVT) flooring market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. South & Central America Luxury Vinyl Tile (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
4.2.1 Threat of New Entrants
4.2.2 Intensity of Competitive Rivalry
4.2.3 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
5. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Key Market Dynamics
5.1 South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Residential Construction
5.2.2 Cost-Effectiveness of Luxury Vinyl Tiles (LVT) Flooring
5.3 Market Restraints
5.3.1 Environmental Concerns
5.4 Market Opportunities
5.4.1 Expansion of Commercial Sector
5.5 Future Trends
5.5.1 Technological Advancements
5.6 Impact of Drivers and Restraints:
6. Luxury Vinyl Tile (LVT) Flooring Market – South & Central America Market Analysis
6.1 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Volume (Million Sq. Meter), 2020-2031
6.2 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Revenue (US$ Million), 2020-2031
6.4 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Forecast and Analysis
7. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Volume and Revenue Analysis – by Type
7.1 Rigid
7.1.1 Overview
7.1.2 Rigid: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.1.3 Rigid: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
7.2 Flexible
7.2.1 Overview
7.2.2 Flexible: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.2.3 Flexible: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
8. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Revenue Analysis – by End User
8.1 Residential
8.1.1 Overview
8.1.2 Residential: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Commercial
8.2.1 Overview
8.2.2 Commercial: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Institutional
8.3.1 Overview
8.3.2 Institutional: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9. South & Central America Luxury Vinyl Tile (LVT) Flooring Market -Country Analysis
9.1 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Overview
9.1.1 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast and Analysis – by Country
9.1.1.1 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Volume and Forecast and Analysis – by Country
9.1.1.2 South & Central America Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast and Analysis -by Country
9.1.1.3 Brazil Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Brazil Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.3.2 Brazil Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.4 Argentina Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 Argentina Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.4.2 Argentina Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.5 Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.5.2 Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market Breakdown 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 Mohawk Industries Inc
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 Tarkett
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 Shaw Industries Group Inc
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 Interface 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 AHF LLC
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 Gerflor SAS
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 Forbo Holding AG
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
13. Appendix
13.1 About The Research Team
Table 1. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Segmentation
Table 2. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Table 3. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 5. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 6. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 7. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 8. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 9. Brazil Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 10. Brazil Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 11. Brazil Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 12. Argentina Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 13. Argentina Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Argentina Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 15. Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 16. Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 17. Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 18. Heat Map Analysis by Key Players
Figure 1. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Segmentation, by Country
Figure 2. Porter’s Analysis
Figure 3. Ecosystem: Luxury Vinyl Tiles (LVT) Flooring Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Volume (Million Sq. Meter), 2020-2031
Figure 6. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Revenue (US$ Million), 2020-2031
Figure 7. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Share (%) – Type, 2023 and 2031
Figure 8. Rigid: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Rigid: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 10. Flexible: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Flexible: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 12. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Share (%) – End User, 2023 and 2031
Figure 13. Residential: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Commercial: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Institutional: South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue by Key Countries 2023 (US$ Million)
Figure 17. South & Central America Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 18. Brazil Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Argentina Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Rest of South & Central America Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Company Positioning & Concentration
The List of Companies – South & Central America Luxury Vinyl Tile (LVT) Flooring Market
o Mohawk Industries, Inc.
o Tarkett
o Shaw Industries Group, Inc.
o Interface Inc
o AWI Licensing, LLC
o Gerflor Group
o Forbo Holding AG
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