ID: MRFR/CO/5164-HCR | 100 Pages | Author: Pradeep Nandi | May 2023
The outdoor flooring market is projected to be worth USD 2621.1 million by 2030, registering a CAGR of 5.9% during the forecast period (2022 - 2030)
2022 - 2030
The outdoor flooring market is projected to be worth USD 2621.1 million by 2030, registering a CAGR of 5.9% during the forecast period (2022 - 2030), The market was valued at USD 1966.4 million in 2021.
The growth in the Outdoor Flooring Market is because of the usage for the exterior buildings and also in the growth of the infrastructure. The main reason why people are very conscious of using flooring products is that it enhances the beauty of the buildings and also it can boost pedestrian movements.
The reconstruction, new construction and retrofitting activities which are done in construction sectors is boosting the growth of the Outdoor Flooring Market Value.
The spread of the pandemic in 2020 across the globe has shattered the growth of many industries and the construction sector. The lockdown was implemented to reduce the positive cases in many countries. Due to the lockdown, there was unavailability of raw materials, industries were closed, the construction company was shut down. So there were many ups and downs in the manufacturing and the growth of the Outdoor Flooring Market products from the year 2020.
Due to this situation, the manufacturing companies need financial support to raise their growth opportunity in the construction sector. They are also planning to merge their companies to get a steady income in recent days. After the spread of the pandemic, there were many changes in the construction sectors due to the lack of income. After the post-pandemic state, it is believed that the growth of the Outdoor Flooring Market Value will be increased in the upcoming years.
The important driving force which develops the Outdoor Flooring Market is the usage of outdoor flooring enhances the aesthetic look of the buildings and also improves pedestrian movement. People are preferring the Outdoor Flooring Market product in recent days because of its benefit like they have better resistance to climate, moisture and also can have high strength quality and has the long term durability.
In recent days the Outdoor Flooring Market Size has been increasing because of the growth of the construction sector. The improvement in infrastructure and the products used for the construction is the main driving force for the growth of the Market Share.
The main driving force which creates the rapid growth opportunity in the Outdoor Flooring Market is because of the increase in the construction sector development like the infrastructure and the improvement in technology. And also the main reason for the growth is the emergence of public spaces in the metro cities, airports, bus stations, and parks. Because while constructing these public places to enhance the beauty of the buildings outdoor floorings are used.
Also, the driving force for the growth of the Outdoor Flooring Market is because of the drastic changes and the improvement in the construction and infrastructure.
The main restraining force which hinders the growth of the Outdoor Flooring Market is the rise in the demand because of the increase in construction in developing countries like China, India, the US etc. Due to the demand because of the increase in construction development, the key players are struggling hard to produce the product which is needed in a short time. Also because of the pandemic, production was slow because of the lack of raw materials, shortage of labour and also due to the lack of financial support. All these are because of the pandemic spread, so there was a fluctuation in the cost of the products. So the key players are facing some negative impacts due to some of the restraining factors. Also, the increase in the demand for the usage of the Outdoor Flooring Market products has created an urge to produce the products.
The main challenge which is faced by the Outdoor Flooring Market is because of the demand which has created due to the growth of the construction sectors in many regions. Rapid urbanisation and the changing lifestyle of the people created a demand which is creating a drastic change in the production of the Outdoor Flooring Market products. After the spread of the pandemic, the manufacturing companies are facing a demand for raw materials so this has been a challenging factor that is negatively impacting the growth of the Market.
The overall growth of the Outdoor Flooring Market Analysis is increasing in the last few years. This is because of the gradual growth in the constructional sectors and also because of the improvement in the infrastructure and the technology in many regions. Rapid urbanisation in the countries like North America and the Asia Pacific region is also boosting the growth of the Market.
Though there is gradual development in the Outdoor Flooring Market Growth, there is also some restraining factors that hinder the growth is because of the lack of raw materials during the pandemic. Also, the fluctuations of the cost efficiency in buying the products of the Outdoor Flooring Market is hindering the growth.
The overall growth in the Outdoor Flooring Market has created a drastic demand in getting the products to the construction sectors in recent days. Due to the spread of the pandemic, there was a lack of raw materials supply, so the manufacturing companies are facing a drastic loss in the tragedy because of the lack of raw materials during transportation.
Many manufacturing companies are also facing trouble in production. So they are planning to expand their region and get financial support from investors. Also, they are introducing new products to boost the growth of the Outdoor Flooring Market.
The Outdoor Flooring Market Trends is experienced by many regions. Some of the regions are North America, Asia Pacific, Europe and the Middle East and Africa.
North America holds the dominating place in holding the largest amount of share in the Outdoor Flooring Market. This is because of the increase in the construction sector. Also because in the countries like the US, Mexico there are many demands for residential units and single houses because of the growth in the population.
The Asia Pacific region is holding the largest share because of the growth of the population in the countries like India, China and Australia. It is also expected that the growth of the Outdoor Flooring Market is increasing in the forecasting period.
Europe and the Middle East and the Africa region is also getting gradual growth in the upcoming years due to the increase in the construction sector.
These are some of the major key players in the Outdoor Flooring Market who are ruling the industry.
|Market Size||2030: USD 2621.1 million|
|CAGR||5.9% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Beaulieu International Group N.V. (Belgium), Citadel Floors (US), Ecore International (US), Fiberon, LLC (US), EBACO India Pvt. Ltd. (India), Mats Inc. (US), Mohawk Industries, Inc (US), Tarkett S.A. (France), The AZEK Company LLC (US), and Florim Ceramiche S.P.A. (Italy)|
|Key Market Opportunities||
|Key Market Drivers||
On the basis of type, tiles segment and on the basis of end-user, residential sector segment holds majority shares in the global outdoor flooring market.
Rise in demand from the residential sector due to the high disposable, income preference, and changing lifestyle of consumers, are major tailwinds pushing the growth of the global outdoor flooring market.
Asia Pacific holds the largest share in the global outdoor flooring market, followed by North America and Europe, respectively.
Beaulieu International Group N.V. (Belgium), Florim Ceramiche S.P.A. (Italy), Citadel Floors (US), The AZEK Company LLC (US), Ecore International (US), Tarkett S.A. (France), Fiberon, LLC (US), Mohawk Industries, Inc. (US), Mats Inc. (US), and EBACO India Pvt. Ltd. (India), are some of the top players operating in the global outdoor flooring market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global outdoor flooring market adopt to gain a larger competitive advantage.
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