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