Mexico Outdoor Flooring Market Outlook

The mexico outdoor flooring market outlook for 2018 to 2032 is exceedingly optimistic. mexico is a rapidly-growing, modernizing economy that is attractive to many corporations in the flooring market who want a foothold in central america. the outdoor flooring sector here offers immense demand potential ranging from the resorts and hotels in urban areas and holiday towns to the growing trend of backyard renovation and improvement projects among residences. in 2018, the outdoor flooring market in mexico saw significant growth; according to a statista report, the industry revenue in mexico alone rose from usd 12 billion in 2018 to usd 16 billion in 2019. this growth is expected to further soar in the upcoming years, as the demand for durable, easy-to-maintain outdoor flooring increases with the rising residential projects and commercial infrastructure development. factors such as increasing consumer preferences for easy-to-maintain environment-friendly outdoor flooring, advancements in technologies and construction techniques, and increased investments in infrastructure are expected to fuel market growth. the mexico outdoor flooring market is anticipated to register a cagr of 7% by 2032. the market is segmented in terms of product, application, and end-user. the wooden flooring segment accounts for the largest share and is likely to remain dominant during the forecast period. wood flooring is preferred by many consumers due to its durability, strength, and natural look. it is also resistant to climate and elements, making it a preferred choice for outdoor sites. the hotel and resort segment dominates the outdoor flooring market in mexico due to the booming tourism industry here. however, the residential segment is projected to witness the highest growth, due to numerous renovation projects taking place in mexican cities. in conclusion, the overall outlook for the outdoor flooring market in mexico is bright. with a booming real estate sector, modernizing economy, and increasing consumer demand for durable and easy-to-maintain outdoor flooring, the market is expected to register considerable growth in the coming years.