VT is one of the most popular products in the flooring market, and its application in commercial facilities, hospitals and home decoration is growing rapidly. It has not only captured the market share of other products of polyethylene flooring, but also the market share of hardwood floors, tiles, and carpets. One of the advantages of LVT is that it has a very high degree of imitation. The surface texture and relief-like effect make it almost indistinguishable from the imitation. In addition, LVT is very different from traditional plastic flooring, it is made into thicker boards that are shaped and sized to popular specifications. The LVT is also thoughtful when it comes to installation. Or adopt a certain lap joint structure, or adopt self-adhesive technology, or directly adhere to the floor substrate, and can also be equipped with special substrates to meet various requirements.
LVT has important advantages for various floor materials
Compared to tile, LVT is light, stretchy, warm, comfortable, inexpensive and easy to install. Compared to hardwood floors, the visuals are the same, but LVT performs much better, is easier to maintain, less prone to scuffs and scratches, and is less expensive, especially compared to imported high-priced wood.
Compared to VCTs, VCTs have a much lower upfront cost, but have much higher maintenance requirements and are much less designed. Therefore, in the commercial field, the dilemma of VCT is mainly caused by the rise of LVT. In the household field, the market share growth of LVT mainly comes from the floor leather, because the simulation effect of LVT is unmatched by the floor leather.
Compared with laminate flooring, there are many similarities between the two, both of which are deliberately imitated natural materials, mainly wood, similar in size, and can be installed without glue. Laminate floors are cheaper and more scratch resistant. However, the core of laminate flooring is fiberboard, which is sensitive to changes in humidity. If no noise treatment is performed, the sound will be crisp and LVT will not be these problems. So LVT has been embraced by the commercial market, and laminate floors have not been established there.
The development trend of LVT
In 2016, LVT and its category sales accounted for 42.3% of housing stock and 67.6% of housing income. Analysts do not expect these numbers to decline in 2017 and will continue to reflect strong growth in this category. In 2016, total resilient flooring sales were $3.499 billion, an increase of 19.7% from $2.924 billion in 2015 and almost four times the growth rate of the entire industry. In addition, the sales of resilient flooring accounted for 16.5% of the total sales of the entire flooring industry, ranking first among all hard flooring materials.
In 2017, the sales of resilient flooring continued to grow, especially today’s waterproof products are more and more popular with consumers. Industry experts also said that wood plastic and SPC will achieve rapid growth, while other types of flooring will continue to lose overall market share. Especially the laminate floor, because it can not solve the problem of water and noise, will be more affected with the appearance of wood plastic and SPC products.
In this favorable environment, LVT growth will continue through 2025. WPC and SPC will have more market prospects. Both types of flooring are expected to continue to develop aggressively over the next two years.
Post time: May-17-2022