The U.S. vinyl flooring market was worth about $3 billion in 2018, according to Stifel Equity Research Group, and demand continues to grow. While product manufacturers continue to outdo themselves with technological and design innovations in luxury vinyl tile and plank, the competition between domestically made product and those imported from Asia rages on. According to Trade Partnership Worldwide, American households will pay about $770 more each year under the 25% tariffs the U.S. has imposed on $250 billion in Chinese goods, including LVT. We caught up with industry leaders to see where they see the category heading and what the industry can look forward to next year.
Since Novalis made and shipped the first container of LVT in 1988, the company has advanced the art and science of LVT across installation methods, visual design, sizes, shapes and protective coatings. Today, the company offers one of the most extensive lineups of WPC and SPC products in the industry and has recently invested more than $35 million in a plant expansion in China.
Since Novalis made and shipped the first container of LVT in 1988, the company has advanced the art and science of LVT across installation methods, visual design, sizes, shapes and protective coatings. Today, the company offers one of the most extensive lineups of WPC and SPC products in the industry and has recently invested more than $35 million in a plant expansion in China.