Resilient Flooring Sales to Grow Nearly 7% Annually as LVT Leads the Charge

Cleveland OH, April 8, 2024 – According to a new study by The Freedonia Group, US Flooring, demand for resilient flooring is expected to grow 6.9% per year to 14.3 billion square feet in 2027, the fastest growing product type in the US. However, gains in this category will almost exclusively be driven by LVT, which has gained a significant share in the US over the past decade at the expense of wall-to-wall broadloom carpeting in residential markets.

In value terms, demand will rise 10% annually to $14.3 billion in 2027. In addition to rising area demand, gains will be driven by the increasing use of higher value LVT flooring such as stone-plastic composite and wood-plastic composite.

Vinyl flooring demand is projected to rise 7.0% annually to 14.2 billion square feet in 2027, the fastest of all flooring materials:

• LVT will continue to see gains due to its low cost and favorable aesthetics and performance properties. Further LVT demand advances will stem from manufacturer efforts to offer products with superior performance properties or more attractive surfaces.

• Vinyl sheet flooring, which traditionally accounted for the largest share of vinyl flooring demand, has been overtaken by LVT as the leading type.

Demand for both vinyl sheet and VCT will decline as LVT is seen as an aesthetically superior product. However, vinyl sheet and VCT will continue to play important roles in the product segment given their more widespread use in commercial construction applications.

About The Freedonia Group

The Freedonia Group, a division of MarketResearch.com, is a premier international business research company, providing clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. The Freedonia Group’s brands also include Packaged Facts, a trusted provider of consumer market research on food & beverage, pet products and services, demographics, and financial services, and Simba Information, the leading authority for market intelligence and forecasts on the education and professional publishing industries. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.