Outdoor Flooring Market to Generate $22.07 Bn, Globally, by 2027, at 5.6% CAGR

AMR

- Increase in adoption of thermally treated wood, upsurge in consciousness toward outdoor remodeling, and growth in popularity of outdoor entertaining areas among residential end users propel the growth of the global outdoor flooring market.

PORTLAND, Ore., Nov. 2, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Outdoor flooring Market by Material Type (Wood & Laminate, Ceramic, Synthetic fiber & fabric, and Others), Flooring Type (Non-Resilient, and Resilient), Construction Type (New construction, and Renovation), and End User (Residential, Commercial, Public Infrastructure, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027" According to the report published by Allied Market Research, the global outdoor flooring market garnered $16.55 billion in 2019, and is projected to reach $22.07 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027.

Prime determinants of the market-

Increase in adoption of thermally treated wood, upsurge in consciousness toward outdoor remodeling, and growth in popularity of outdoor entertaining areas among residential end users propel the growth of the global outdoor flooring market. Nevertheless, increase in emphasis toward utilization of green and eco-friendly materials and fluctuations in foreign currencies influence profit margins impede the market growth. However, focus toward public-private partnerships (PPPs) for infrastructure development is expected to to usher in new opportunities in the near future.

Covid-19 Scenario:

• The coronavirus outbreak has significantly impacted the industry by delaying the supply chain and manufacturing processes of outdoor flooring products.
• The massive impact on the construction industry further affected the demand and growth of the outdoor flooring market.
• The unlocking processes in various countries have eased off the regulations to certain extent signaling the industries to pick up their works again with concern to precautionary measures.

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