Luxury Vinyl Tiles Market worth $21.72 billion by 2031 - exclusive report by MarketsandMarkets(TM). DELRAY BEACH, Fla., Nov. 3, 2026 /PRNewswire/ - According to MarketsandMarkets(TM), the Luxury Vinyl Tiles Market projected to grow from USD 18.22 billion in 2026 to USD 21.72 billion by 2031, reflecting a compound annual growth rate of 3.57% over the forecast period. Browse 200 market data Tables and 40 Figures spread through 300 Pages and in-depth TOC on 'Luxury Vinyl Tiles Market - Global Forecast to 2031' Luxury Vinyl Tiles Market Size & Forecast: * Market Size Available for Years: 2021-2031 * 2026 Market Size: USD 18.22 billion * 2031 Projected Market Size: USD 21.72 billion * CAGR (2026-2031): 3.57% Luxury Vinyl Tiles Market Trends & Insights: * The luxury vinyl tiles market is expanding as consumers, builders, and developers seek cost-effective, durable, and aesthetically versatile flooring solutions for residential and commercial applications. Growing construction and renovation activity, along with rising demand for flooring that replicates the look of natural wood and stone, is driving market growth. Rising adoption of LVT in residential buildings, offices, retail spaces, hospitality facilities, and healthcare environments is further driving demand. The need for easy installation, low maintenance, water resistance, and durability in high-traffic areas is driving LVT adoption as an alternative to conventional flooring materials. These trends are supporting the adoption of click-LVT, loose-lay, glue-down, and self-adhesive formats, offering greater installation flexibility for different project requirements. In addition, manufacturers are investing in digital printing, advanced surface treatments, improved wear layers, and sustainable materials to enhance product performance, design options, and environmental attributes, thereby supporting broader LVT adoption across new construction, renovation, and refurbishment projects. * North America accounted for the dominant share of 72.1% of the global luxury vinyl tiles market in 2025. * By type, the rigid segment is expected to register the highest CAGR of 3.8% from 2026 to 2031, in terms of value. * By product type, the click LVT segment is expected to register the highest CAGR of 4.1% from 2026 to 2031, in terms of value. * By end-use sector, the commercial segment is expected to dominate the market, registering the highest CAGR of 3.76%. * By distribution channel, the online retail segment is expected to register the highest CAGR of 3.9% from 2026 to 2031, in terms of value. * Mohawk Industries Inc., Tarkett, Shaw Industries Group, Inc., Forbo Group, and Gerflor were identified as Star players in the luxury vinyl tiles market, as they have focused on innovation, have broad industry coverage, and have strong operational & financial strength. * Novalis, Zhangjiagang Yihua Rundong New Material Co., Ltd., and Beaulieu International Group, among others, have distinguished themselves among startups and SMEs due to their strong product portfolio and business strategy. The construction sector is experiencing rapid growth, which is expected to boost the luxury vinyl tiles market. The rising number of residential and commercial buildings, along with increased renovations and maintenance work, will contribute to the growing demand for LVTs. Additionally, the urban population's desire for decorative interiors driven by enhanced lifestyles may further accelerate growth of the LVT market. Rigid luxury vinyl tiles to be fastest-growing segment in the market The rigid segment has recently become the leading category in terms of value. Rigid-type LVT is recognized for its durability, resisting dents, scratches, and temperature fluctuations. This feature makes it particularly well-suited for high-traffic areas and environments with higher moisture levels. One of the main advantages of rigid-type LVT is its compatibility with various existing subfloors, including concrete, plywood, and previous flooring materials. It can be installed easily using either a clicklock or glue-down method. This straightforward installation process not only reduces labor costs but also saves time, making it a popular choice among industry professionals and DIY enthusiasts. Click LVT is recognized as one of the fastest-growing segments in the luxury vinyl tiles industry. Its rising popularity can be attributed to several key factors, including an easy installation process, cost-effectiveness, and versatility. This type of flooring is particularly favored for both residential and commercial use. The innovative click-lock mechanism allows for quick, glue-free installation, significantly reducing labor time and costs. This feature is especially beneficial for renovation projects, making Click LVT an appealing choice for those looking to update their spaces efficiently. Retail stores segment to account for largest market share during forecast period The sales of LVT are experiencing significant growth within retail distribution channels, largely attributed to enhanced in-store experiences, increased consumer trust, and better accessibility. Retail environments, especially large home improvement chains and specialized flooring stores, allow customers to physically see, touch, and compare various LVT products. This tactile engagement not only helps customers make informed decisions but also boosts their confidence in the quality and design of the products. Residential sector to account for largest market share during forecast period The residential sector accounts for the larger share of the overall luxury vinyl tiles market. The growth of the market in the residential segment is driven by a variety of home renovation and maintenance projects. As spending on residential construction is expected to increase significantly, particularly in the dynamic and rapidly developing regions of Asia Pacific and Latin America, a notable trend of urbanization is taking place. This urbanization not only transforms landscapes but also accelerates the growth rate of residential construction. North America to account for largest market share during forecast period North America is recognized as the leading region in this market. The continuous growth of residential and commercial construction activities in the US and Canada, particularly in recent years, has significantly increased the demand for floor and wall covering materials. Luxury vinyl tiles have gained popularity due to their durability, versatility, and affordability. Furthermore, the rising trend of renovation and remodeling projects across North America has further intensified the demand for luxury vinyl tiles. Key Players Leading players in the luxury vinyl tiles companies include Mohawk Industries, Inc. (US), Tarkett (France), Shaw Industries Group, Inc. (US), Interface, Inc. (US), Gerflor (France), Forbo Group (Switzerland), Armstrong Flooring (US), Mannington Mills, Inc. (US), Responsive Industries Ltd. (India), and LX Hausys (South Korea), among others. Investment Funding The investments in the luxury vinyl tile (LVT) market are increasingly focused on increasing production capacity, manufacturing and process-efficiency capabilities, and developing high-performance luxury flooring products. As demand for better, more design-focused flooring solutions increases, flooring manufacturers are investing in new production and expansion facilities for LVT, advanced extrusion and calendaring equipment, digital printing and surface finishing, and automated production and quality-control systems. Companies are also investing in recyclable and recycled-content materials, low-VOC formulations, phthalate-free products, dimensional stability, wear and scratch resistance, and waterproof flooring solutions for residential and commercial applications. Furthermore, capacity expansion and regional manufacturing investments help companies enhance supply-chain resilience and adapt to growing demand in North America, Europe, Asia Pacific, and other regions. Revenue Shift Based on the revenue mix of companies in the LVT market, two distinct revenue streams emerge: companies that make their living on resilient flooring and companies that generate revenue across many flooring categories. Specialized manufacturers tend to focus on LVT (luxury vinyl plank), luxury vinyl plank (LVP), sheet vinyl, and other resilient products, while diversified flooring companies tend to have a more mixed portfolio that includes carpet, hardwood, laminate, ceramic tile, and resilient products. In LVT, premium and differentiated products that are not only available but also growing in revenue include wood-look and stone-look options, upgraded wear-layer constructions, rigid-core and multilayer products, waterproof flooring, and products for challenging commercial applications. Diversified floors can capitalize on larger product offerings, existing distribution systems and customer relationships with residential and commercial customers, while specialized flooring manufacturers can dedicate more time to resilient flooring technologies and product innovation. Company Revenue Share Details Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett, Interface, Inc., and Armstrong Flooring are the key companies in the luxury vinyl tiles (LVT) market, each of which is looking to expand its product offerings, invest in manufacturing capacity, develop sustainable and recyclable flooring solutions, grow its geographic footprint, and create innovative products. See More Building & Construction Industry Reports: Door Market by Product Type (Interior, Exterior), Material (Wood, Glass, Metal, Plastic, Composite), Application (Residential, Non-Residential), Mechanism (Swinging, Sliding, Folding, Overhead), Mode of Application, & Region - Global Forecast to 2031 Concrete Superplasticizers Market by Product Form (Liquid, Powder), Product Type (Polycarboxylate Derivatives, Sulfonated Naphthalene Formaldehyde (SNF), Sulfonated Melamine Formaldehyde (SMF), Melamine-Lignosulfonate (MLS), Other Product Types), Application (Ready Mix Concrete, Precast Concrete, High-Performance Concrete, Other Applications), and Region - Global Forecast to 2031 Modular Flooring Market by Product Type (LVT, Ceramic, Rubber, Polyolefin), Installation Technique (Interlocking, Loose Lay), End-use (Household, Workplace, Healthcare, Education, Retail), and Region - Global Forecast to 2031 Doors & Windows Market by Product (Doors and Windows), Material (Wood, Metal, Plastic), Construction Type (Swinging, Sliding, Folding, Revolving), End-use Industry (Residential, Commercial, and Industrial), and Region - Global Forecast to 2031 Ceramic Tiles Market by Type (Porcelain, Ceramic), Application (Floor Tiles, Internal Wall Tiles, External Wall Tiles), End-use Sector (Residential, Non-residential), Finish (Matt, Gloss), Construction Type, and Region - Global Forecast to 2030 About MarketsandMarkets(TM) MarketsandMarkets(TM) has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. 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Mohawk Industries Q3 earnings call highlights. Posted by Don Miller on Nov 2nd, 2026 Mohawk Industries (NYSE:MHK) reported third-quarter 2026 sales of $2.8 billion, up 1% as reported and essentially flat after adjusting for foreign exchange and an additional shipping day, as the flooring manufacturer navigated softer demand late in the quarter. CEO Paul De Cock, speaking on his first earnings call in the role, said the company's operating performance was in line with expectations despite weakening conditions, particularly in U.S. builder markets. Third-quarter net earnings were $163 million, or 5.9% of sales, while adjusted EBITDA was $353 million, representing a 12.7% margin. Operating income totaled $188 million, and adjusted operating income was $200 million, down $5 million from a year earlier. Earnings per share and adjusted earnings per share were both $2.72. Volumes declined 4% during the quarter, reflecting soft market demand, while price and mix increased 4%. Chief Financial Officer Nick Manthey said $85 million of price and mix benefits and $47 million in productivity gains offset approximately $117 million of underlying input-cost inflation. Demand remains uneven across markets. De Cock said Mohawk generates more than half of its sales in the United States, where demand weakened as the quarter ended and remained soft in October. Higher interest rates affected most products and channels, with the builder channel facing the greatest pressure. Residential repair and remodeling activity, which Mohawk estimates accounts for about half of U.S. sales, remained restrained as consumers deferred larger projects. However, specialty retail improved sequentially and performed better than larger-format retail. Mohawk said its U.S. retail business grew during the quarter and gained share in most categories, including residential carpet, laminate, ceramic and countertops. The company cited demand for its asthma- and allergen-friendly carpet, scratch-resistant laminate products, quartz countertop designs and accessories. De Cock said the specialty retail channel benefited from stronger demand at the higher end of the market, while home-center point-of-sale trends remained slow. Residential new construction, which represents about one-quarter of Mohawk's U.S. sales, continued to soften as higher mortgage rates, affordability constraints and declining builder confidence pressured single-family starts. Mohawk added builder-program wins in ceramic and laminate, though De Cock said those gains did not fully offset the market decline. Commercial markets were more constructive than residential markets, according to the company, although new project awards slowed in August and September. Mohawk said hospitality, healthcare and education were the most active commercial segments, while return-to-office trends supported carpet-tile demand. Commercial LVT posted a sixth consecutive month of order growth. In Europe, which represents about one-third of company sales, consumer demand and showroom traffic remained weak, while commercial projects held up better. European natural-gas prices roughly doubled from the beginning of the third quarter, prompting Mohawk to accelerate ceramic price increases and announce November price actions in its European panels and insulation businesses. Segment results. * Global Ceramic: Sales were $1.1 billion, up 2% as reported and slightly higher excluding currency and the extra shipping day. Adjusted operating income was $74 million, or 6.5% of sales, down 160 basis points from the prior year as higher energy and fuel costs outweighed price and productivity benefits. * Flooring North America: Sales totaled $950 million, up 1% as reported. Excluding the benefit of an additional shipping day, sales declined less than 1%. Adjusted operating income rose to $77 million, or 8.1% of sales, supported by productivity gains, price and mix, and $10 million of tariff refunds. * Flooring Rest of the World: Sales were $707 million, down about 1% as reported and down about 2% after currency and shipping-day adjustments. Constant-currency volumes fell about 10%, primarily because of weak demand in Europe, Australia and New Zealand. Adjusted operating income was $66 million, or 9.3% of sales, up 100 basis points year over year. Cash flow, buybacks and capital framework. Mohawk generated $471 million in cash from operations and $390 million in free cash flow during the quarter, bringing year-to-date free cash flow to $626 million, up 78% from the prior-year period. Capital expenditures were $81 million in the quarter, and the company reduced its full-year capital expenditure expectation to approximately $445 million from $460 million previously. The company repurchased $261 million of shares in the third quarter, more than double its repurchases in the first half of the year, reducing outstanding shares by more than 3%. Mohawk also repurchased another $34 million of shares early in the fourth quarter, completing its prior authorization. Its board approved a new $500 million share-repurchase authorization. Manthey said Mohawk's baseline annual capital expenditure needs are expected to be approximately $375 million, focused on maintenance, productivity initiatives and innovation. He said the company sees limited need for incremental capacity in the near term. Mohawk's net debt leverage improved to 0.7 times at the end of the quarter, and management established a long-term target of up to 2 times net debt to adjusted EBITDA, subject to cyclical conditions and its investment-grade credit ratings. De Cock also said the company has begun a comprehensive review of its portfolio of businesses, evaluating market attractiveness, competitive advantages, cash profitability and return on invested capital. He said Mohawk could reposition, fix or rethink businesses that fall short of expectations. Fourth-Quarter and early 2027 outlook. For the fourth quarter, Mohawk expects flooring-market conditions to remain challenging and demand to be softer than in the third quarter. The quarter will have four fewer shipping days than the prior-year period, representing an approximately 6% headwind to sales, management said. The company expects low-single-digit adjusted net sales growth year over year and adjusted earnings per share of $1.35 to $1.45. Mohawk expects year-over-year underlying inflation to remain similar to the third quarter and said it intends to offset inflation on a dollar-for-dollar basis through pricing, mix and productivity actions. Looking ahead, management said it is planning for market volumes to decline in 2027, though it believes Mohawk can continue to outperform its markets. Cost-of-sales inflation accelerated from low-single digits in the first half of 2026 to mid-single digits in the third quarter and is expected to remain at that level in the fourth quarter and into early 2027. De Cock outlined a four-pillar strategy centered on outperforming markets, product innovation and brand strength, profitability and operational excellence, and cash generation and capital discipline. "Our markets will recover, but we are not waiting for that recovery to act," he said. About Mohawk Industries (NYSE:MHK). Mohawk Industries, Inc is a global manufacturer and distributor of flooring products. The company serves residential and commercial customers through products sold to retailers, distributors, builders, contractors and other industry professionals. Its product portfolio includes carpet, rugs, ceramic and porcelain tile, hardwood flooring, laminate, luxury vinyl tile and other resilient flooring products. Mohawk markets products under a range of well-known brands, including Mohawk, Karastan, Pergo, Quick-Step, Marazzi, Daltile, American Olean and Durkan. The company traces its origins to a carpet mill established in 1878 and is headquartered in Calhoun, Georgia.