Luxury Vinyl Tile (LVT)

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Publisher : Catalina Research Inc.
Report Number : FC 089
Published : November 2014
Pages : 180
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Catalina Research Presents - Luxury Vinyl Tile:

AN ANALYSIS OF GROWTH, OPPORTUNITIES and THREATS

FC089: November 2014

- What is the long-term opportunity for LVT flooring?
- Will new LVT plants under construction increase capacity beyond demand?
- What is the affect of new production capacity on pricing and market shares?
- Will LVT resist the pressures of commoditization?
- How is LVT penetrating floor covering market and distribution channels?
- What is the biggest threat to LVT?

These questions and more are addressed in this unique collaboration between Catalina Research and the Floor Covering Institute. For the first time, internationally recognized floor covering expert, Jim Gould, President of the Floor Covering Institute, gives his opinions and insight along side the facts, research and statistics prepared by Stuart Hirschhorn, Catalina Research Director.

This 165 page fact-filled report is what global flooring executives, investors and market watchers need to understand the U.S. and global LVT markets, the affect of capacity investments, and future demand.

  • Learn about products and technologies, plant investments, capacity, end-use markets, factors driving demand, sourcing and distribution, installation technologies and more.
  • Consult more than 35 tables of statistical references showing historical, current and forecasts of LVT market performance based upon multiple factors affecting demand.
  • Two supplements available: June 2015 will present a review of new product and technologies; November 2015 will report on the effect of new capacity on the market with revised 2015 and 2016 estimates

Report Price: $3,495.00 or Report with both supplements: $4,790.00


CONTENTS

EXECUTIVE SUMMARY AND GROWTH PROSPECTS (2012-2019)

  • LVT market size and growth potential
  • Comparative floor coverings growth analysis

LVT PRODUCT TRENDS AND TECHNOLOGY

  • What is LVT and how it evolved
  • LVT flooring advantages and why demand is growing
  • Product differentiation by tile size, manufacturing techniques, and installation methods
  • Evolution of installation, core, and joint technologies
  • Environmental issues

U.S. MARKET TRENDS (2007-2019)

  • U.S. sales in dollars and square feet
  • Average selling prices and comparison to other flooring
  • LVT’s share of total U.S. floor coverings and resilient flooring
  • Source of supply by country of origin: U.S., China, South Korea, Taiwan, and others
  • Average prices for U.S. manufacturers versus foreign-sourced products

U.S. END-USE MARKETS AND FACTORS DRIVING DEMAND (2007-2014)

  • LVT purchases by residential and nonresidential markets
  • Residential and commercial building construction activity
  • Housing permits, starts, completions, and sales of existing homes
  • Square footage of new housing units
  • Regional construction markets
  • Consumer hard surface flooring jobs and spending

U.S. DISTRIBUTION CHANNELS (2007-2014)

  • Floor coverings distribution channel networks
  • Resilient flooring sales by channel
  • Top U.S. floor coverings distributors and retailers
  • Role of specialty floor coverings stores and big boxes
  • LVT supplier distribution strategies and challenges
  • Distribution networks for major competitors

U.S. COMPETITIVE ENVIRONMENT (2013-2014)

  • Leading U.S. supplier market shares
  • Competitor technology and distribution
  • Investments in new U.S. production capacity

WORLD MARKET TRENDS (2013-2014)

  • World LVT production by world area
  • World LVT sales by world area
  • Chinese and South Korean LVT exports by major country of destination
  • Investment in non-U.S. production capacity and a supply demand analysis
  • LVT licensees of Unilin and Välinge
  • Opportunities for LVT patent holders and machinery manufacturers

PROFILES, RECENT DEVELOPMENTS, AND STRATEGIES FOR OVER 30 GLOBAL COMPANIES

2015 REPORT SUPPLEMENTS IN JUNE AND NOVEMBER

  • June issue reviews the new products/technologies/installation systems stimulating sales
  • November issue reviews new U.S. production capacity and evaluates affect on pricing and market share, as well as revising 2015 and 2016 estimates

For a complete table of contents see www.CatalinaReports.com or contact sales at (561) 988-0853.

About the Authors

Catalina Research Inc:

Catalina Research offers a wealth of knowledge and experience and is a vital resource for action- oriented executives seeking industry statistics and intelligence. Our research director, Stuart Hirschhorn, has three decades of experience reaching flooring, kitchen and bath and related construction industries. Catalina Research provides the most in-depth, up-to-date, and insightful data on these markets including pertinent information from government agencies, proprietary research sources, and competitor intelligence. Catalina has relationships with leading business associations, trade publications, and industry consultants to deliver the most insightful industry intelligence. Stuart Hirschhorn is a founding member of the Floor Coverings Institute. www.catalinareports.com

The Floor Covering Institute:

The Floor Covering Institute is a consortium of flooring industry experts who advise all sectors of the flooring industry and investors on industry strengths, weaknesses, opportunities and threats. Founder, Jim Gould, is a highly esteemed flooring industry veteran who has been dubbed a visionary. After 45 years as executive and owner of multiple companies in the flooring industry he now advises clients around the world. Clients include some of the world’s largest flooring manufacturers seeking to broaden market penetration, channel partners seeking to increase market share, investors needing intelligence and insight into the industry,, as well as associations and international flooring exhibitions wishing to increase their value to the industry. www.floorcoveringinstitute.com

Table of Contents

INTRODUCTION

SECTION 1
EXECUTIVE SUMMARY AND LUXURY VINYL TILE MARKET TRENDS

Executive Summary
U.S. LVT Market Growth
LVT Makes Inroads In The Floor Coverings Market
Product Sourcing And Distribution
Investments In New Production Capacity
A Global Perspective On Supply And Demand
Market Outlook And Future Consolidation
Scope And Methodology
Figure 1-1
U.S. Luxury Vinyl Tile Market Supply, 2007-2019 (dollars and square feet)
Table 1-1
Quantity U.S. Floor Coverings Supply By Flooring Type, 2012-2019 (square feet): Carpet And Area Rugs, Ceramic Tile, Luxury Vinyl Tile, Sheet Vinyl, Wood Flooring, Laminate Flooring, Vinyl Composite Tile, Stone Flooring, And Other Resilient Flooring
Table 1-2
Quantity U.S. Floor Coverings Supply Increase By Flooring Type, 2014-2019 (square feet): Luxury Vinyl Tile, Carpet And Area Rugs, Ceramic Tile, Sheet Vinyl, Wood Flooring, Stone Flooring, Laminate Flooring, Other Resilient Flooring, And Vinyl Composite Tile
Figure 1-2
Luxury Vinyl Tile’s Share Of U.S. Floor Coverings Supply, 2007-2019 (percent)
Figure 1-3
U.S. Average Value Per Square Foot Of Luxury Vinyl Tile Supplied, 2007-2019 (dollars)

SECTION 2
EVOLUTION OF THE LUXURY VINYL TILE CATEGORY

Defining Luxury Vinyl Tile
LVT Is Part Of The Resilient Segment
Twentieth Century Flooring Environment Leads To LVT
Resilient Flooring Product Development
LVT’s Growing Market Potential
LVT’s Growth Impacts Other Flooring Categories
Product Differentiation Driving The Evolution Of LVT
The Evolution Of Installation Technology
New Installation Technologies
Super-Click International
Inotec Global Ltd.
IOBAC
GTP International, Ltd.
Innovations4Flooring
InstaLay
Emerging Core Technologies
USFloors
Magma Flooring LLC
Inhaus Surfaces Ltd.
Other Ways To Differentiate
Leading Joint Technologies
Patent Wars Over Joint Technology
LVT Environmental Issues
What Are Phthalates?
The Potential Threat To All Vinyl Flooring
Research And Publicity
Government Action
Industry Actions
The Question Of Recycled Content
Environmental Declarations

SECTION 3
U.S. LUXURY VINYL TILE MARKET TRENDS

Summary Of Major Findings
U.S. Luxury Vinyl Tile Market Trends
Growing Share Of U.S. Floor Coverings Sales
Comparative Price Trends
Domestic Versus Foreign Sourcing
U.S. Market Outlook
Table 3-1
Value Of U.S. Luxury Vinyl Tile Supply, 2007-2019 (dollars)
Table 3-2
Quantity U.S. Luxury Vinyl Tile Supply, 2007-2019 (square feet)
Table 3-3
U.S. Average Value Per Square Foot Of U.S. Luxury Vinyl Tile Supplied, 2007-2019 (dollars)
Table 3-4
Luxury Vinyl Tile’s Share Of U.S. Total Floor Coverings Sales, 2007-2019 (percent): Square Feet And Dollars
Table 3-5
Luxury Vinyl Tile’s Share Of Total U.S. Resilient Flooring Sales, 2007-2019 (percent): Square Feet And Dollars
Table 3-6
U.S. Comparative Pricing, 2014 (dollars): Luxury Vinyl Tile, Wall-To-Wall Carpet, Wood Flooring, Ceramic Tile, Other Resilient Flooring, Laminate Flooring, And Stone Flooring
Table 3-7
Value Of U.S. Luxury Vinyl Tile Supply By Major Country Of Origin, 2013-2014 (dollars)
Table 3-8
Quantity U.S. Luxury Vinyl Tile Supply By Major Country Of Origin, 2013-2014 (square feet)
Table 3-9
Average Value Per Square Foot Of Luxury Vinyl Tile Supplied By Major Country Of Origin, 2013-2014 (dollars)

SECTION 4
U.S. LUXURY VINYL TILE END-USE MARKETS AND FACTORS DRIVING DEMAND

Residential Versus Nonresidential Demand
Residential Replacement Markets
Builder Market
Nonresidential Markets
Table 4-1
Value Of U.S. Luxury Vinyl Tile Sales For Residential And Nonresidential Markets, 2007-2014 (dollars)
Table 4-2
Quantity U.S. Luxury Vinyl Tile Sales For Residential And Nonresidential Markets And Average Value Per Square Foot Purchased, 2007-2014 (square feet and dollars)
Table 4-3
U.S. Spending On Building Construction, 1987-2014 (dollars): Total Buildings, Residential Buildings, And Nonresidential Buildings
Table 4-4
Percent Of U.S. Households Purchasing A New Or Existing Housing Unit, 1992-2014 (number, percent, and dollars): Total Households, Total Housing Demand, Percent Households Purchasing, Interest Rates, And Average Value Per Existing Home Sold
Table 4-5
U.S. Existing Home Sales By Region, 2007-2014 (number)
Table 4-6
U.S. Consumer Spending On Hard Surface Flooring And Number Of Replacement Jobs, 2007-2013 (dollars and number)
Table 4-7
Number Of U.S. New Housing Units Completed And Square Feet Built, 1997-2014 (number): Single-Family Homes, Multi-Family Housing Units, And Manufactured Homes
Table 4-8
New U.S. Privately Owned Housing Units Started And By Type Of Structure, 1980-2014 (number): Total Starts; In Structures With 1 Unit, 2 To 4 Units, And 5 Units Or More
Table 4-9
Monthly New Private U.S. Housing Units Authorized By 20,000 Building Permit Places By Region, 2013 And 2014 (number)
Table 4-10
New Privately Owned Housing Units Authorized By 20,000 Building Permit Places By Region And State, 2012-2014 (number)
Table 4-11
New U.S. Single-Family Houses Sold By Sales Price, 1990-2014 (number): Under $150,000, $150,000 To $199,999, $200,000 To $299,999, $300,000 To $499,999, And $500,000 And Over
Table 4-12
Average Size Per New U.S. Housing Unit Completed By Type Of Unit And Region, 2000-2014 (square feet): Single-Family Homes, Multi-Family Units, And Mobile Homes
Table 4-13
U.S. Spending On Nonresidential Building Construction Put In Place By Building Type, 2010-2014 (dollars): Lodging, Office, Commercial, Healthcare, Educational, Religious, Public Safety, Amusement And Recreation, And Manufacturing
Table 4-14
Value Of Private Nonresidential Building Construction Spending By Region, By Building Type, 2008-2013 (dollars): Lodging, Office, Commercial, Healthcare, Education, Religion, Amusement And Recreation, Manufacturing, And Total; Northeast, Midwest, South, And West

SECTION 5
U.S. LUXURY VINYL TILE DISTRIBUTION CHANNELS

U.S. Floor Coverings Distribution Channels
The Two-Step Distribution Channel Using Wholesale Distributors
Direct Distribution
Alternate Distribution Option Using 3PL
Challenges For LVT Manufacturers
The Limits Of Potential Market Share
Creating A Distribution Network With A Shrinking Distributor Pool
Other Considerations
Conclusion
Resilient Flooring Distribution Channels
Leading LVT Supplier Distribution
Table 5-1
U.S. Retail Resilient Flooring Sales By Channel, 2007-2014 (dollars): Specialty Floor Coverings Stores, Home Centers, And Other Retailers
Table 5-2
U.S. Sales And Locations Of Leading Floor Coverings Retailers By Type Of Chain, 2012 (number and dollars): Building Material Retailers, Mass Merchandisers, And Carpet And Other Floor Covering Retailers
Table 5-3
Sales Trends For The Top Twelve Floor Coverings Independent Wholesale Distributors, 2002-2012 (number)
Table 5-4
Select Independent Wholesale Distributors And Networks: Armstrong, Congoleum, Mannington, And Others

SECTION 6
U.S. LUXURY VINYL TILE COMPETITIVE ENVIRONMENT

LVT Competitive Environment
Leading U.S. Suppliers And Market Share
Investments In U.S. LVT Production Capacity
New Capacity Meets Rising Demand
Distribution Channel Competitive Advantage
Table 6-1
Share of U.S. Luxury Vinyl Tile Supply For The Top Seven Suppliers, 2013 (percent)
Table 6-2
Select U.S. Investments In New Luxury Vinyl Tile Production Capacity By Company, 2014-2015 (dollars)

SECTION 7
WORLD LUXURY VINYL TILE MARKET AND LEADING MANUFACTURERS

LVT Goes Global
Total World Market Trends
Production By World Area
Consumption By World Area
Leading LVT Manufacturers By World Area
Patents And Licenses
Leading Luxury Vinyl Tile Production Machinery Suppliers
Table 7-1
World Luxury Vinyl Tile Market, 2013 And 2014 (square feet and dollars)
Table 7-2
World Luxury Vinyl Tile Production By World Area, 2013 (square feet and dollars): United States, China, South Korea, European Union, And Others
Table 7-3
World Luxury Vinyl Tile Sales By World Area, 2013 (square feet and dollars): United States, China, South Korea, European Union, And Others
Table 7-4
Chinese Luxury Vinyl Tile Exports By Major Country Of Destination, 2013 (dollars and percent)
Table 7-5
South Korean Luxury Vinyl Tile Exports By Major Country Of Destination, 2013 (dollars and percent)
Table 7-6
Luxury Vinyl Tile Licensees Of Unilin Technologies And Välinge, 2014

SECTION 8
COMPANY PROFILES AND RECENT DEVELOPMENTS

Adore Floors, Inc.
Luxury Vinyl Tile And Manufacturing
American Biltrite (Canada) Ltd.
Luxury Vinyl Tile Products
Sales Trends
Armstrong World Industries, Inc.
Luxury Vinyl Tile Products
Manufacturing Investment
Sales And Market Share
Beaulieu International Group NV
Luxury Vinyl Tile Products
Chinafloors
Luxury Vinyl Tile Products
Congoleum Corp.
Luxury Vinyl Tile Products
Manufacturing And Sourcing
Sales And Market Share
Daejin Co. Ltd.
Luxury Vinyl Tile Products
EarthWerks
Luxury Vinyl Tile Products
Sales And Market Share
FloorFolio Industries
Luxury Vinyl Tile Products And Markets
Distribution And Manufacturing
Gerflor Group
Luxury Vinyl Tile Products And Markets
GTP International, Inc.
Luxury Vinyl Tile Products
Hallmark Floors
Luxury Vinyl Tile Products
Home Legend
Luxury Vinyl Tile Products
Ilshin Chemical
Luxury Vinyl Tile Products
IVC Group
Luxury Vinyl Tile Products
Manufacturing, Distribution, and Market Share
James Halstead Plc.
Polyflor Products And Markets
Karndean Design Flooring
Flooring Products And Markets
KCC Corp.
PVC Tile Products
LG Hausys
Luxury Vinyl Tile Products And Markets
Mannington Mills, Inc.
Flooring Products
Luxury Vinyl Tile Products
Distribution and Manufacturing
Sales And Market Share
Metroflor
Luxury Vinyl Tile Products
Distribution
Sales And Market Share
Mohawk Industries, Inc.
Luxury Vinyl Tile Products
New Manufacturing Plant
Unilin Technologies
Distribution
Novalis International
Resilient Flooring Products
Manufacturing And Marketing
Distribution And Manufacturing
Nox Corp.
Luxury Vinyl Tile Products And Manufacturing
Raskin Industries LLC
Luxury Vinyl Tile Products
Shanghai Jinka Flooring Technology
Luxury Vinyl Tile Products
Shaw Industries, Inc.
Luxury Vinyl Tile Products
New LVT Plant
Sales And Market Share
Super-Click International
Luxury Vinyl Tile Products And Distribution
Tarkett SA
Luxury Vinyl Tile Products And Manufacturing
Sales And Market Share
USFloors, Inc.
Luxury Vinyl Tile Products
Vertex Group
Luxury Vinyl Tile Products And Markets
Vinylasa
Resilient Products And Manufacturing
Wellmade Performance Flooring
Luxury Vinyl Tile Products
Zhangjiagang Yihua Plastics Co. Ltd.
Vinyl Tile Products

Abstract

ABSTRACT FOR THE CATALINA REPORT ON THE LUXURY VINYL TILE:  AN ANALYSIS OF GROWTH, OPPORTUNITIES, AND THREATS

SUMMARY OF MAJOR FINDINGS
LVT has been the strongest growing sector of the U.S. floor coverings industry over the past decade.  The U.S. supply (shipments plus imports) is estimated to reach $1.1 billion during 2014 or 5.3% of total floor coverings industry sales.  This is up from only 1.6% in 2007.  LVT is forecast to climb to over 9.0% of flooring sales in 2019.  Demand has been driven by the introduction of new installation methods.  The new installation methods, combined with the product’s waterproof characteristic and superior acoustics, has expanded LVT use to every room of the home and expanded selling opportunities in commercial markets.  Asian and European manufacturers have been the primary beneficiaries of this growth.  However, leading domestic hard surface flooring manufacturers are building plants in the United States and aboard.  The goal of this report is to determine how new capacity will affect the supply/demand balance and the impact on prices and profitability.  This in-depth investigation studied the strategies developed by manufacturers and independent distributors to gain market share in this relatively competitive market.

LVT SALES TRENDS AND GROWTH ANALYSIS

Catalina Research and the Floor Covering Institute jointly undertook this 160-plus page in-depth analysis of U.S. and global LVT markets.  U.S. shipments and imports were evaluated to estimate the domestic supply on a dollar and square foot basis.  The report provides insights into how the evolution of installation technologies and new core materials has driven market demand.  Import data analyze shipments of foreign-sourced products by major country of origin.

END-USE MARKET PURCHASES AND DISTRIBUTION

The report’s end-use market analysis provides executives with the growing sales opportunities in residential and nonresidential markets and the inroads made by LVT for each.  End-use market trends are correlated with U.S. housing demand, nonresidential construction spending, mortgage interest rates, and other housing and economic indicators to uncover the factors affecting demand, and provide insights into the direction of domestic demand in 2015 and beyond.  In addition, the report provides information on floor coverings distribution models and resilient floor covering retail channels.  The distribution strategies of the leading LVT competitors and a list of their distributors are provided as well.

COMPANY PROFILES AND THE COMPETITIVE ENVIRONMENT

Catalina Research and the Floor Covering Institute profiled over 30 worldwide LVT manufacturers and independent distributors to provide information on competitor product lines, new products and technologies, acquisitions, distribution channels, and capital expenditures.  Market shares are calculated for the leading U.S. competitors from this extensive database of company information.   Executives are urged to review the growth strategies of leading worldwide LVT manufacturers and compare their company’s own performance to the market leaders.

WORLD LVT MARKET TRENDS

The global LVT market is investigated as part of this analysis.  Production and sales by world area are provided.  Chinese and South Korean export shipments by major country of destination are provided as well.  The U.S., Asian and European production capacity being built is matched with future growth to determine if an over capacity situation will develop.

Report Number: FC089                   Published: November 2014
Pages: 165                                         Price: $3,495 hard copy or email version

To order this report or receive more information about this valuable research report, contact our Sales Department @ (561) 988-0853 or email: sales@CatalinaReports.com.  You can also visit our web site: www.CatalinaReports.com.

Catalina Research provides in-depth market research on construction materials, building equipment, home furnishings, consumer products, industrial equipment, energy and infrastructure products and other industries. Each complete report or study section includes information on market size and growth, end-use markets, distribution channels, international trade, plant profitability, the competitive environment, and leading company strategies. Catalina Reports are used to evaluate a market's growth prospects and profitability, investigate target markets, gauge the potential of new products, and uncover acquisition candidates.