Global Outdoor Flooring Market is projected to reach $12,072.1 Million by 2025
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An increase in awareness towards outdoor remodeling, a surge in popularity of outdoor entertainment area among residential users, and a rise in adoption of thermally treated tiles have driven the expansion of global outdoor flooring market. The market growth is also boosted by the increase in new construction projects in developing economies. However, the increased importance placed on green and eco-friendly materials and fluctuations in foreign currencies that reduce profit margins have been projected to hinder market growth in the future.
The rise in disposable income of individuals, as well as increase in awareness of beautiful outdoor designs, have shifted the inclination towards outdoor home remodeling among residential end-users, especially in urban areas. The outdoor flooring installed in patios, porches, backyards, pavements, and others enhance the visual appeal of the residential building. It improves the perception of home among individuals, thereby creating value for residential end-users.
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Based on type, decking in the global outdoor flooring market is anticipated to grow at a significant growth rate. Wood is the most preferred material for decking as it enhances the aesthetics of the building and improves value perception among the individuals. The recent availability of thermally treated wooden materials has significantly improved the materials durability and strength, which augments the attributes of eco-friendly material. As a result, the surge in popularity of thermally treated wood is expected to drive the market growth of the decking segment.
The usage of outdoor flooring in public infrastructure has made it one of the leading end-users in the global outdoor flooring industry. Public infrastructure such as airports, bus stations, railway stations, popular tourist areas, and dedicated pedestrian pavement in metro cities, and parks among others are considered as public infrastructure.
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Key Findings of the Outdoor Flooring Market:
In terms of value, the ceramics segment generated the maximum revenue in 2017 and is expected to grow at a CAGR of 5.65% during the forecast period.
The decking outdoor flooring is likely to grow at a CAGR of 6.56% by 2025.
Public infrastructure is expected to dominate the outdoor flooring market, registering the CAGR of 5.16% in terms of value.
Asia-Pacific is projected to show exponential growth in demand throughout 2025, growing at a CAGR 6.80% of in terms of value.
India and China are expected to witness considerably high growth rates at a CAGR of 8.12% and 7.38% respectively, during the forecast period.
Major players in the global outdoor flooring market are focusing on new product development to gain a strong foothold in the market. Key players profiled in the report include AZEK Company, Beaulieu International Group, Citadel Floors, ECORE International, Inc., Ebaco India Pvt. Ltd., Fiberon, Mats Inc., Mohawk Industries, Tandus Group, Inc., Tarkett S.A., The Biltrite Corporation, and Timber Holdings USA among others.
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