Global Outdoor Flooring Market Thrives, Projected to Reach $23.48 Billion by 2028: Outdoor Living Trend Boosts Demand

DUBLIN, Aug. 30, 2023 /PRNewswire/ -- The "Global Outdoor Flooring Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global outdoor flooring market reached a substantial value of USD 17,085.8 million in 2022. Benefitting from the flourishing construction sector and the surge in urbanization, the market is poised for a continued expansion with a Compound Annual Growth Rate (CAGR) of 5.3% between 2023 and 2028. It is projected to attain a value of USD 23,477.81 million by 2028.

Outdoor Flooring: Blending Aesthetics and Functionality

Outdoor flooring involves the installation of resilient and weather-resistant materials for outdoor surfaces like decks, patios, balconies, and walkways. The spectrum of outdoor flooring materials encompasses wood, concrete, natural stone, ceramics, and synthetic compounds such as composite decking and rubber. The primary role of outdoor flooring is to furnish both visually pleasing and functional surfaces that can endure diverse environmental elements like moisture, temperature variations, and UV radiation.

Construction Industry Drive

A pivotal driver behind the global outdoor flooring market's growth is the burgeoning construction industry. As worldwide residential and commercial construction projects continue to escalate, the demand for outdoor flooring materials, particularly in urban zones, is expected to soar. Furthermore, the burgeoning emphasis on sustainable construction practices is steering the adoption of eco-friendly and recycled materials in outdoor flooring applications, thereby amplifying market growth.

Outdoor Living Trend Boosts Demand

The rising trend of outdoor living and landscaping is a catalyst propelling the outdoor flooring market's expansion. Homeowners and commercial property owners are increasingly investing in outdoor spaces like decks, patios, and gardens to augment their properties' aesthetic allure and functionality. Consequently, the call for outdoor flooring materials that can withstand harsh weather conditions while requiring minimal upkeep is set to intensify.

Innovative Material Development

A significant trend shaping the outdoor flooring market is the evolution of innovative and advanced flooring materials. Manufacturers are dedicating efforts to create fresh materials that are not only durable and weather-resistant but also visually captivating and easy to install. These innovations are anticipated to invigorate the demand for outdoor flooring materials in the forthcoming years.

Public Infrastructure Focus

Additionally, the growing emphasis on public infrastructure development, encompassing parks, plazas, and pedestrian walkways, is expected to contribute to the outdoor flooring market demand. Governments and urban planners are channelling investments into creating attractive and functional public spaces that elevate the quality of urban life. Consequently, the demand for outdoor flooring materials that endure heavy foot traffic while providing slip resistance is anticipated to surge.

Market Segmentation

The outdoor flooring market can be categorized by material, flooring type, construction type, end use, and region.

Material Categories:

• Wood and Laminate
• Ceramic
• Synthetic Fibre and Fabrics
• Others

Flooring Types:

• Non-Resilient
• Resilient

Construction Types:

• New Construction
• Renovation

End Uses:

• Residential
• Public Infrastructure
• Others

Geographic Regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report delves into market shares, plant turnarounds, capacities, investments, acquisitions, and mergers among other major developments of global outdoor flooring companies. Noteworthy key players explored in the report include Armstrong Flooring, Inc, Beaulieu International Group N.V, Citadel Floors, Ecore International, Mohawk Industries, Inc, Mats Inc, Fiberon, and others.

For more information about this report visit https://www.researchandmarkets.com/r/mu0hd6

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SOURCE Research and Markets