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Global Outdoor Flooring Market to Grow at a CAGR of 5.4% During 2022-2027, Aided by the Rapid Urbanisation

According to a new report by EMR titled, ‘Global Outdoor Flooring Market Report and Forecast 2022-2027’, the market attained a value of more than USD 16.1 billion in 2021. The industry is further expected to grow at a CAGR of 5.4% in the forecast period of 2022-2027 to reach a value of over USD 22.3 billion by 2027.

The global outdoor flooring industry is being supported by the rapid urbanisation worldwide. The heightened capital expenditure in the construction sector owing to the increased demand for residential and commercial infrastructure has been bolstering the market growth in the forecast period. This can be attributed to the rising global population. Additionally, the inflating disposable incomes and the improved living standards of people are further anticipated to propel the market for outdoor flooring in the coming years. Furthermore, the development of environment friendly flooring solutions is also expected to aid the market in the forecast period, fuelled by the growing eco-consciousness among consumers.

The rising demand for innovative and aesthetic decking solutions among consumers is leading to the development of outdoor floorings that provide a trendy appeal with benefits of decreased installation time. For instance, in November 2021, the AZEK Company (NYSE: AZEK) announced the launch of its new outdoor living products from TimberTech, which come in two on-trend composite deck-board colors, French White Oak® and Dark Cocoa. In addition, it also offers a hidden fastener system to help decrease the installation time. Such developments are expected to positively impact the growth of the outdoor flooring industry in the forecast period.

Market Breakup by Material, Flooring Type, Construction Type, End Use, and Region:

  • The market is divided, based on material, into wood and laminate, ceramic, synthetic fibre and fabrics, and others.
  • On the basis of flooring type, the market can be distributed into non-resilient and resilient.
  • Based on construction type, the industry is segregated into new construction and renovation.
  • The industry is segmented, on the basis of end use, into residential, public infrastructure, and others.
  • Region-wise, the global market for outdoor flooring can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for outdoor flooring is being driven by the rapid urbanisation and the rising global population. 
  • The increased investments in the construction sector, fuelled by the rising demand for residential and commercial infrastructure development have significantly contributed to the market expansion. 
  • The growing availability of eco-friendly flooring solutions are also aiding the industry growth. 
  • The rising disposable incomes and the improved living standards of people are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for outdoor flooring for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the materials, flooring types, construction types, end uses, and major regions of outdoor flooring.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global outdoor flooring market are Armstrong Flooring, Inc., Beaulieu International Group N.V., Citadel Floors, Ecore International, Mohawk Industries, Inc., Mats Inc., and Fiberon, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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