Indian Luxury Vinyl (LVT) Flooring Market Outlook, 2017

Indian Luxury Vinyl (LVT) Flooring Market Outlook, 2017

Tiles to continue dominating the flooring market in India, despite the entry and strong performance of laminates and resilient flooring

RELEASE DATE
21-Jun-2017
REGION
Global
Research Code: 9AAF-00-44-00-00
SKU: EN00989-GL-MR_20292

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Description

LVTs market in India is concentrated among 5-6 brands and these are entirely dependent on imports. The product is used in niche segments and is dependent on the influence of leading architects and consultants. The nature of demand for flooring products in India does not favor the usage of LVT; hence, the product sees very low penetration. High price and product characteristics that do not suit Indian customer demand play a critical role in low volumes of sales for LVT suppliers in India. Surge in economic activity in India has led to growth in commercial Grade A office space and demand for private and international schools. Similarly, increased disposable income and growth in tourism has led to an increase in customer spending through the retail sector and the increase in number of hotel rooms. These end-user segments popularly use LVT in different application areas.

Key questions this Industry Docket will answer:

•     What are the key areas of opportunities for LVT Market in India?
•     What are the challenges faced by LVT suppliers in India?
•     Which is the popular sales route for LVT in India?
•     Who are the leading suppliers of LVT in India?
•     What are the key success factors for LVT suppliers in Indian market?

Table of Contents

Scope & Segment Definition

Tiles to continue dominating the flooring market in India, despite the entry and strong performance of laminates and resilient flooring

Construction sector growth and transfer of best practices in flooring from developed markets helping Indian flooring market’s growth

Mega Trends & their Impact

Although LVT is currently used in small volumes in retail, construction of newer malls could lead to higher LVT use

Rise of Tier II cities will see expansion of Grade A commercial properties to these cities and influence a growth of 12-13% over the next 5 years

Consistent economic growth has increased the income spent on education and the demand for world-class educational institutions

Tourism and hospitality sector to surge paving way for increased usage of LVT in Hotels

Large corporate offices, retail malls and hotels in India use imported LVT due to the influence of international architects and consultants

Use in Hotel and Retail segments to drive market CAGR of 15%; Healthcare to be upcoming segment in near future 

Commercial Offices and Hospitality would drive future demand due to the role of consultants in decision making

Low volumes and high dependence on influencers for project sales prompts a few brands to opt for the retail route for LVTs

Branded LVT sales depend on demand from high-end segments and the projects route; while unbranded LVTs go the retail route

The demand for LVTs is usually client or architect generated

The product will continue to have a very small share in the overall flooring market due to the presence of low cost labor in India

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Related Research
LVTs market in India is concentrated among 5-6 brands and these are entirely dependent on imports. The product is used in niche segments and is dependent on the influence of leading architects and consultants. The nature of demand for flooring products in India does not favor the usage of LVT; hence, the product sees very low penetration. High price and product characteristics that do not suit Indian customer demand play a critical role in low volumes of sales for LVT suppliers in India. Surge in economic activity in India has led to growth in commercial Grade A office space and demand for private and international schools. Similarly, increased disposable income and growth in tourism has led to an increase in customer spending through the retail sector and the increase in number of hotel rooms. These end-user segments popularly use LVT in different application areas. Key questions this Industry Docket will answer: • What are the key areas of opportunities for LVT Market in India? • What are the challenges faced by LVT suppliers in India? • Which is the popular sales route for LVT in India? • Who are the leading suppliers of LVT in India? • What are the key success factors for LVT suppliers in Indian market?
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Lightbox Content Investment Opportunities in India|More growth opportunities|https://store.frost.com/investment-opportunities-in-india.html
Author Suganya Rajan
Industries Environment
WIP Number 9AAF-00-44-00-00
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