Invented in the 1930’s, vinyl tiles are making a comeback with a luxury vinyl tile category that provides improved durability and ease of maintenance over traditional vinyl flooring coupled with dramatic new styles that mimic tile or wood at a lower price point without the extensive installation or maintenance costs.
The wear layer with 0.15mm thickness or above ensures the durability of the tile protecting it from scratches and damages; as a result different commercial sectors are attracted towards LVT.
Five opportunities for LVTs in India
- Hospitality Industry: To meet the requirement of high-end foreign and domestic tourists in India, the country is planning to build and add more than 150,000 rooms in the star category hotels by 2020.
- Education Sector: The education sector in India expects to attract more than US $130 billion Foreign Direct Investment by 2020. Besides other schools, it is projected that around 70 international schools will be in operation in India in next three years and will probably push the demand for LVT because it is durable and is highly recommended in play and high traffic areas
- Retail Industry: In order to deliver best ambience effect and to enhance the better shopping experience to customers, new malls will likely be using LVT as retail experts believe that the appealing look of mall’s interior is one of the factors to retain customers. By 2020, it is expected that there will be more than 450 malls in India out of which almost 35% is estimated to use LVT
- Commercial Properties: The rapid expansion of high-end commercial properties in Tire II cities will also inflate demand for LVT because its installation cost is low in comparison to ceramic tiles. This is one of the largest consumers for LVTs, consuming as high as 60% of the total supply
- Residential Segment: Besides corporate clients, the increasing income of middle class is characterised by change in life style hence demand for LVT is likely to stimulate by almost 864 million people in near future. It is estimated that 62% (864 million) of India’s population will join middle-class group by 2020 and their projected income will be between US $7,500 to $44,000 per year
Subarna Poudel is a researcher with Frost & Sullivan. He can be reached at email@example.com
Sapan Agarwal drives content and marketing for Frost & Sullivan. Sapan is based out of Kuala Lumpur Malaysia and can be reached at firstname.lastname@example.org | +603 6204 5830