How Big is The Outdoor flooring Market ?
The latest intelligence report published by Report Ocean, titled “Outdoor flooring Market ”2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
How Expansive is the Outdoor flooring Market ?
The global outdoor flooring market was valued at $16,557.7 million in 2019, and is projected to reach $22,070.0 million by 2027, registering a CAGR of 5.6% from 2020 to 2027. Flooring is one of the crucial steps for construction of buildings and infrastructure as it can improve durability, visual appeal, design, and aesthetics of buildings. In addition, outdoor flooring plays a significant role in improving landscaping attributes of exteriors of building pavements, parks, and outdoor areas. Outdoor flooring unlike interior are subjected to external weather conditions resulting in superior durability, resilience, and ability to sustain mechanical force.
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As a result, outdoor flooring solutions are more resistant to damage and have longer product lives compared to interior flooring solutions. Moreover, growth in popularity of public spaces, especially in urban areas and metro cities has also increased the scope of outdoor flooring in public spaces such as airports, bus stations, parks, and popular tourist attractions.
Growth in the construction industry and rapid urbanization among developing countries are anticipated to drive the market growth. Fast-growing economies such as China and India continue to provide lucrative business opportunities for the market players, owing to significant number of new construction activities in these regions. Moreover, rise in number of millennial populations, especially in developed regions, have increased consciousness toward exterior entertainment areas and propensity to spend on home remodeling, which also fuels growth of the outdoor flooring market.
However, constant fluctuations in foreign currency exchanges have profound influence on the profit margins as well as material prices for manufacturers. This is projected to restrict the market growth during the forecast period. In addition, emerging effects of global warming and changes in climate have shifted the inclination toward utilization of eco-friendly materials for outdoor flooring solutions for market players. Furthermore, increase in focus toward public-private partnerships (PPPs) for infrastructure development offers lucrative growth opportunities for the market growth.
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The outdoor flooring market is segmented on the basis of material type, flooring type, construction type, end user, and region. The material type segment is classified into wood & laminate (decking), ceramics (tile), synthetic fiber and fabric (carpets & rugs) and others. By flooring type, it is segmented into non-resilient and resilient. By construction type, it is segmented into new construction and renovation. By on end user, it is segmented into residential, commercial, public infrastructure, and others. Region wise, the market is analyzed across North America, Europe Asia-Pacific, and LAMEA.
COMPETITION ANALYSIS
Key companies 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.
KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive analysis of the current and emerging outdoor flooring market trends and dynamics.
? In-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
? Extensive analysis of the outdoor flooring market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
? A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
? The global outdoor flooring market forecast analysis from 2020 to 2027 is included in the report.
? The key market players within outdoor flooring market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the outdoor flooring industry.
GLOBAL OUTDOOR FLOORING MARKET SEGMENTS
BY MATERIAL TYPE
– Wood & Laminate
– Ceramics
– Synthetic fiber & fabric
– Others
BY FLOORING TYPE
– Non-Resilient
– Resilient
BY CONSTRUCTION TYPE
– New Construction
– Renovation
–
BY END-USER
– Residential
– Commercial
– Public Infrastructure
– Others
BY REGION
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o UK
o France
o Russia
o Rest of Europe
– Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
– LAMEA
o Latin America
o Middle East
o Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Market Dynamics:
Market Drivers:
- Increasing emphasis on self-care and wellness, particularly among women. A
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Market Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Market Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Market Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
The report will include answers to the following key questions:
- What are the key current trends that can impact the product life cycle and return on investment?
- How do regulatory changes affect corporate, business, and functional strategies?
- Which initiatives by major players in micromarketing are likely to attract investment?
- What are the recommended frameworks and methodologies for conducting PESTLE analysis?
- In which areas are there emerging opportunities for growth and development?
- Which game-changing technologies will be instrumental in capturing new revenue streams in the near future?
- What operational and tactical frameworks are different players adopting to foster customer loyalty?
- What is the current level of market rivalry, and what is the expected degree of competition in the coming years?
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