FOCUS ON LUXURY VINYL TILES (LVT)
Focus On: The UK Vinyl & LVT Flooring Sector
The latest changes in the LVT market and the predictions for its future are laid out by AMA Research, following the publication of its ‘Floorcoverings Market Report - UK 2016-2020 Analysis’.
Introduction
Vinyl currently accounts for around 16% of the total UK floorcoverings market by value, and the sector includes both vinyl sheeting, vinyl tiles and planks, and luxury vinyl tile (LVT). Offering key benefits of performance, durability, flexibility and aesthetics, vinyl is now widely used in a range of contract and residential applications.
Current Situation
Vinyl flooring, estimated to be worth around £300m in 2016, is currently outperforming all other product sectors in the UK floorcoverings market, with demand driven largely by the popularity of LVT.
Sales of vinyl flooring - in particular LVT - have continued to strengthen from 2015-2016. Demand from the contract sector has continued to underpin growth, with safety flooring a particularly strong area of focus, but in the last 2-3 years there has also been a strong recovery in the domestic sector- largely driven by a switch to higher specification products, such as LVT.
LVT is undoubtedly proving to be one of the fastest-growing sectors of the floorcoverings market, with steady growth of around 3-4% per annum forecast over the next three years.
Product Mix
In terms of the overall market, vinyl tiles have increased share steadily since 2010 and now account for around 40% of demand. However, sheeting products still continue to account for the largest share, primarily reflecting high usage in healthcare and education applications.
In the domestic market, more tiles than sheeting is now used, as consumers increasingly switch to higher specification products. As indicated above, LVT continues to make gains, with product developments responding to higher specification requirements across most end-use sectors. As a result, vinyl is set to increase share overall, particularly if there is a further wave of investment in the healthcare sector in the next few years.
Key Trends
Product innovations and developments mean that LVT’s, as well as ceramic and porcelain tiles, can now be produced to replicate wood strip boards in terms of size, grain, tone and effect, as well as surface texture.
22 | Tomorrow’s Retail Floors
There is strong demand for safety vinyl and loose lay vinyl tile in public areas. There has also been a rise in the use of LVT in care homes and similar facilities, where smooth flooring is often preferred because of the risk of slips and trips, or to facilitate the use of wheelchairs where hard flooring poses significant risk.
The domestic sector is also increasing its use of LVT, with private accommodation schemes, including student accommodation and private serviced apartments, increasingly opting for LVT, particularly in ‘cluster’ areas such as corridors and bedrooms.
www.tomorrowsretailfloors.com UK Floorcoverings Market Product Mix 2016 - % by Value
UK Vinyl Floorcoverings Market Size and Growth – 2013-2019 (£m at MSP)
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