Press release
Outdoor Flooring Market Trends, Share, Growth, Opportunity to Reach USD 22.07 billion by 2027
Outdoor Flooring Market
According to the report published by Allied Market Research, the global outdoor flooring market garnered $16.55 billion in 2019, and is projected to reach $22.07 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.
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Top Impacting Factors:
Outdoor flooring plays a vital role in improving visual appeal of commercial buildings and infrastructure through innovative landscaping and flooring solutions.
Rise in awareness toward outdoor entertainment areas, especially among millennials is anticipated to drive the outdoor flooring market growth in the coming years. Further, rise in adoption of thermally treated woods has gained traction in recent years, owing to its enhanced durability, longer product life, and environment friendly material
New construction activities, especially in fast emerging economies such as South Asia and Africa majorly drive growth of the market. In addition, number of outdoor remodeling activities has gained traction, owing to rise in awareness of outdoor entertainment areas among residential end users in developed economies.
Moreover, increase in number of second home buyers and preference of millennials toward outdoor areas are also anticipated to drive the outdoor flooring market growth during the forecast period.
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Rapid urbanization and fast-growing economies predominantly drive new construction activities and subsequently fuel the demand for outdoor flooring across different end users.
As a result, developing countries in Asia and Africa are anticipated to provide numerous business opportunities for market players resulting into attractive CAGRs respectively. Whereas, growth in consciousness toward outdoor entertainment areas among millennial home buyers in developed economies is expected to fuel the demand for outdoor flooring solutions such regions.
In addition, retrofitting and renovation activities of public infrastructure, buildings, and airports are also projected to create steady demand for outdoor flooring solutions.
Regional Analysis:
Region wise, the outdoor flooring market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2019, and LAMEA is expected to exhibit the highest CAGR from 2020 to 2027. This is attributed to the fact that emerging economies in the region are witnessing increase in infrastructural development and increase in construction projects. Moreover, rapid economic recovery significantly drives the outdoor flooring market growth in this region.
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Top Players:
The key players profiled in the outdoor flooring market 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.
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. 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.
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