Portland, OR, Dec. 01, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global outdoor flooring market garnered $16.55 billion in 2019, and is estimated to reach $22.07 billion by 2027, witnessing a CAGR of 5.6% from 2020 to 2027. The report provides a detailed analysis of changing market trends, top winning strategies, major segments, key investment pockets, regional landscape, and competitive scenario.
Surge in consciousness toward outdoor remodeling, prominence of outdoor entertaining areas in the residential buildings, and rise in adoption of thermally treated wood drive the growth of the global outdoor flooring market. However, inclination toward utilization of green and eco-friendly materials and variations in foreign currencies that impact profit margins restrain the market growth. On the other hand, focus on public-private partnerships (PPPs) for infrastructure development creates new pathways in the coming years.
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Covid-19 Scenario:
- Owing to lockdown imposed in many countries, the production activities of outdoor flooring products such as ceramic tiles, fabric flooring, wood decking, rugs & carpets, and others have come to halt. Moreover, the supply chain has been disrupted.
- The construction activities have been banned to curb the spread of coronavirus, which in turn, reduced the demand considerably. Economic turbulence has been caused, and manufacturers need to plan their investments as per changing situation.
- The demand would grow as construction and production activities resume and the supply chain restores.
The report provides detailed segmentation of the global outdoor flooring market based on material type, flooring type, construction type, end user, and region.
Based material type, the ceramic segment accounted for more than four-fifths of the total share in 2019, and is projected to maintain its leadership status during the forecast period. However, the wood & laminate segment is projected to grow at the largest CAGR of 6.4% from 2020 to 2027.
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Based on end user, the residential segment accounted for nearly two-thirds of the total share of the global outdoor flooring market in 2019, and is expected to maintain its lead position throughout the forecast period. However, the public infrastructure segment is estimated to witness the highest CAGR of 6.3% from 2020 to 2027.
Based on region, Asia-Pacific held the largest market share in 2019, contributing to around half of the total market share, and will maintain its dominance in terms of revenue throughout the forecast period. On the other hand, LAMEA is projected to manifest at the highest CAGR of 6.5% from 2020 to 2027.
Leading players of the global outdoor flooring market analyzed in the report include AZEK Company, Citadel Floors, Beaulieu International Group, Ebaco India Pvt. Ltd., The Biltrite Corporation, ECORE International, Inc., Mohawk Industries, Fiberon, Mats Inc., Tarkett S.A., Tandus Group, Inc., and Timber Holdings USA.
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