LONDON--(BUSINESS WIRE)--The global outdoor flooring market is projected to grow to USD 109.8 billion by 2021, at a CAGR of close to 7% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global outdoor flooring market for 2017-2021. Based on product type, the market is divided into outdoor floor tiles and outdoor floor decking segments.
| The pavement construction outside the built-up area from materials such as concrete, stone, ceramic, wood, and others are termed as outdoor flooring. The outdoor flooring market is driven by the increasing demand for thermo-treated wood, which has zero chemical presence, exotic appearance, and water repellant properties. |
Technavio’s research study segments the global outdoor flooring market into the following regions:
- APAC
- EMEA
- Americas
Outdoor flooring market in APAC
“APAC occupies a majority 57% of the overall outdoor flooring market shares, supported by the strong growth of the residential sector in countries such as India, Malaysia, Indonesia, and many others,” says Likhitha Bandla, a lead analyst at Technavio for construction research.
The rising populations of the developing countries in APAC are creating additional urban housing requirements, which are directly impacting the outdoor flooring market in the region. Also, with countries like Singapore promoting sustainable urban housing, new avenues are being created for the vendors in the market.
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Outdoor flooring market in EMEA
The outdoor flooring market in EMEA is expected to be worth USD 23.52 billion by 2021, with the economic recovery restarting the real estate market in the region. The rising migrant population to developed European countries, combined with the increased demand for prime apartments in the Middle East is driving the market for outdoor flooring in the region. Also, rising real estate investments and booming hotel development in the Middle East are expected to significantly impact the outdoor flooring market in EMEA.
Outdoor flooring market in the Americas
“The Americas is expected to showcase steady growth in the demand for outdoor flooring, with a vast majority of the buildings in the region opting to install decking,” says Likhitha.
The recovering residential sector in the region presents a huge potential to vendors in the market over the forecast period. The US Federal Reserve is also attracting more buyers by keeping the interest rates towards the lower end. Additionally, Columbia is emerging as an important part of the market, driven by changing demographics and increasing disposable income.
The top vendors in the global outdoor flooring market highlighted in the report are:
- Armstrong Flooring
- Fiberon
- Mohawk Industries
- Timber Holdings USA
- AZEK Building Products (TimberTech)
Browse Related Reports:
- Global Floor Pad Market 2017-2021
- Global Wooden Floor Market 2016-2020
- Floor Coatings Market in Europe 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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