Huge demand for outdoor flooring is on the rise across the globe, 2017-2025
According to a new report published by Allied Market Research titled, Outdoor Flooring Market by Material Used, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2025," the global outdoor flooring market size was valued at $7,759.9 million in 2017, and is expected to reach $12,072.1 million by 2025, registering a CAGR of 5.77% from 2018 to 2025. Europe dominated the global outdoor flooring market, accounting for around one-third share of the total revenue.
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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.
The recent rise in popularity of thermally treated woods have resulted in their significant adoption among commercial as well as residential end-users. The thermal treatment of woods enhances its attributes such as durability, sustainability, insulation, as well as the long life of different types of woods. Moreover, as the materials are eco-friendly they have a minimum impact on the environment during their production. In addition, the utilization of wooden flooring in outdoor spaces facilitates an increase in its value perception among the individuals, due to its aesthetics and antique features.
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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.
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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