11-28-2018 06:41 AM CET - Industry, Real Estate & Construction

Outdoor Flooring Market: Fast-Growing Segment 2025 with CAGR 5.77%

Press release from: Allied Market Research
PR Agency: Allied Analytics
Outdoor Flooring Market
Outdoor Flooring Market
The demand for outdoor flooring is on the rise across the globe. The outdoor entertainment area such as patio, porches, and backyards have gained significant popularity in the past few years, owing to its semi-natural ambience and functional utility for small gatherings. As a result, millennials are increasingly opting for dedicated outdoor entertainment areas in their residences. It subsequently drives the demand for outdoor flooring among residential buildings such as row houses, bungalows, townhouses, condos, with attractive outdoor flooring solutions. In addition, the growth in number of DIY (do-it-yourself) solutions have also fueled the number of home renovations and retrofitting flooring projects among individuals. Thus, driving the market growth of the outdoor flooring market during the forecast period.

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Based on type, the global outdoor flooring industry is categorized into tile, decking, and others. Wood flooring is projected to remain dominant throughout the analysis period. Tiles owing to their low cost of production, durability, flexible design, and easy installation has resulted in their significant market share. Further, the large scope for application of tiles for outdoor flooring in commercial spaces such as offices buildings, malls, airports, educational buildings, large public spaces, and others. Thus, the substantial market share of tiles as well as huge market penetration across commercial end-users is anticipated to boost the growth of the market during the forecast period.

The Global Outdoor Flooring Market size is expected to reach $12,072.1 million by 2025, from $7,759.9 million in 2017, growing at a CAGR of 5.77% during the forecast period (2018‐2025). The outdoor flooring constitutes products that offer flooring solutions for the exterior of buildings and infrastructure.

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The flooring constitutes horizonal element for buildings and infrastructure architecture that help manage the landscape attributes for visual appeal, pedestrian movement and provide support to other infrastructure elements.

Factors such as new construction, renovation, and retrofitting activities for buildings as well as infrastructure influence the market growth and are expected to drive the outdoor flooring market during the forecast period. Moreover, the rise in consciousness of outdoor entertainment area among millennial home buyers and increase in disposable income fuel the demand for outdoor flooring solutions among residential end users. However, increased emphasis on use of green and eco-friendly materials as well as fluctuation in foreign currencies affect profit margins, and are estimated to impede the global outdoor flooring market.

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Competitive analysis and profiles of the major players, such as AZEK Company, Beaulieu International Group, Citadel Floors, ECORE International, Inc., Fiberon, Mats Inc., Mohawk Industries, Tandus Group, Inc., Tarkett SA, Timber Holdings USA are provided in the global outdoor flooring industry. Product launch, acquisition, and collaboration are the different key strategies adopted by the major players to establish themselves in the market.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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