Outdoor Flooring Market 2019 Global Size, Share, Key Features, Growth Drivers, Upcoming Trends and Regional Forecast by 2023
Global Outdoor Flooring Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
Pune , India – June 3, 2019 /MarketersMedia/ —
Outdoor Flooring Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Material (Wood, Ceramics, Concrete, and Others), Type (Tile, Decking, and Others), End User (Residential, Commercial, Public Sector, and Others), and Region-Global Forecast till 2023
The outdoor flooring market consists of the products and services used for covering an outdoor floor structure such as balconies and patios for re-decoration, which attributes to the aesthetic appeal of the house. Over the past few years, the outdoor flooring market has been witnessing augmented demand worldwide.
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Factors such as the augmenting demand for construction and repairing or up-gradation activities led by the high standard of living and changing consumer preferences drive the growth of the market. Besides, improving economic conditions worldwide coupled with the rapid urbanization in the developing regions are escalating the market on the global platform, resulting in creating a huge demand.
Considering the accelerating growth, the market is witnessing currently Market Research Future (MRFR) in its recently published study report asserts that the global outdoor flooring market is estimated to perceive enormous accruals by2023, registering over 5.2% CAGR; during the forecast period (2018 – 2023).
Consumers are increasingly paying more attention to add aesthetic value to the interiors preferring low maintenance products suitable to their needs. Additional factors substantiating the market growth include properties that outdoor flooring offers such as durability, sustainability, and the decorative finish. On the other hand, factors as such, the lack of awareness towards the benefits of outdoor flooring among end-users are expected to impede the growth of the market.
Major Players:
• Citadel Floors (US)
• Beaulieu International Group NV (Belgium)
• Ecore International (US)
• EBACO India Pvt. Ltd. (India)
• Fiberon LLC (US)
• Mats Inc. (US)
• Tarket SA (France)
• Mohawk Industries Inc (US)
• Florim Ceramich SPA (Italy)
• The AZEK Company LLC (US)
• others
Global Outdoor Flooring Market – Competitive Landscape
Fiercely competitive, the outdoor flooring market appears to be fragmented due to the presence of numerous players. These players compete on quality, branding, price, and extensive customer service. Due to the low product differentiation and availability of many similar products in the market, players aim to improve brand recall through effective marketing communications. High growth potential demonstrated by the market is expected to attract several new entrants making the market more competitive.
Innovation/ Industry/ Related News:
March 04, 2019 —– Artisan Design Group (the US), a dealer of flooring products and services, announced the acquisition of Builders Wholesale Flooring LLC (the US), a company proving flooring products and services. ADG is a Portfolio Company of the Sterling Group (the US), an operationally focused middle market private equity firm. This acquisition represents ADG’s ninth acquisition over the past two years, ADG continues to seek local as well as regional market leaders to add to its family of flooring specialists.
January 15, 2019 —– AdHawk (the US), a company that helps businesses optimize their digital advertising campaigns announced the acquisition of FloorForce (the US), the largest digital marketing agency and website platform for the flooring covering industry.
The acquisition, a part of AdHawk’s larger strategy to expand their presence in the floor covering industry will help AdHawk to build its dream project – FlooringStores.com which will create the first directory and consumer-centric platform for the floor covering industry. With the help of FloorForce, AdHawk will be able to provide digital advertising technology to thousands of flooring retailers.
Launched in January 2019 at the International Surfaces Event (TISE), the FlooringStores.com equips flooring retailers with tools required to succeed online and provide consumers a digital destination to make informed buying decisions.
Intended Audience:
• End-Users
• Government Associations
• Research Institutes
• Distribution vendors
• Wooden flooring Manufacturers, Suppliers, Distributors, and Retailers
• Construction companies
Global Outdoor Flooring Market – Segmentation
For better understanding of the report, the market is segmented into four key dynamics: –
By Material : Wood, Ceramics, and Concrete among others.
By Type : Tile and Decking among others.
By End-user : Residential, Commercial, and Public Sector among others.
By Regions : North America, Europe, APAC and Rest-of-the-World.
Global Outdoor Flooring Market – Regional Analysis
The Asia Pacific region accounts for the largest market in the global outdoor flooring market. The region is expected to retain its leadership throughout the forecast period, witnessing the highest sales. The burgeoning construction sector is driving the growth in the market, creating a large requirement for the outdoor flooring. The construction sector, alongside the increasing industrialization, is driving the market growth in the APAC region.
Countries such as China, Japan, India, and Singapore, backed by the rapidly growing residential and commercial construction activities account for the major markets in the Asia Pacific. Additionally, increasing inclination of consumers towards increasing the aesthetic appeal and durability in the flooring provides a lucrative opportunity for market growth.
The outdoor flooring market in the North American region accounts for the second-largest share, globally. Growing construction projects contribute to the market growth in the region, hugely. Besides, the growing mass transit sector drives the demand for outdoor flooring in the region. Displaying a moderate demand for outdoor flooring, the North American market is expected to register a substantial CAGR during the assessment period.
European, outdoor flooring market is too growing rapidly. Technological advancements that allow flooring materials to demonstrate high-durability, hygiene, cost efficiency, and maintenance free properties foster the growth in the regional market.
Furthermore, changing consumer preference drives market growth in the region. Similarly, improving economic conditions in the region define the significant landscape and demand for outdoor flooring products, leading to increase the market size. Continuing with the same growth trends, the outdoor flooring market in the region is to register a phenomenal CAGR during the forecast period.
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