Outdoor Furniture Market estimated to gain high demand by 2026

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Outdoor Furniture Market Overview by Growth
Opportunities and Regional Forecast to 2026

• The ongoing expansion of the commercial sector
  across the world is slated to propel the global
  outdoor furniture market revenues through the
  forthcoming timeframe. Commercial establishments
  like hospitality, educational institutes, and
  offices are creating immense demand for outdoor
  furniture products, particularly across
  developing nations.
• In addition, the robust tourism sector is
  actively providing significant scope for
  furniture deployment, especially in places like
  restaurants, hotels, and motels, augmenting
  business growth. In fact, as per the WTTC (World
  Trade and Tourism Council), in 2018, the tourism
  sector observed growth of 3.9, which as more
  than the 3.2 global GDP growth that year. The
  industry contributed an unprecedented 8.8
  trillion to the global economy, generating about
  10.4 of the overall global economy activity in
  2018.

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• According to a research report by Global Market
  Insights Inc., the outdoor furniture market is
  likely to surpass a valuation of 20.6 billion by
  2026.

• In terms of material, the plastic furniture
  segment is observing increasing adoption among
  customers due to some of its benefits like easy
  maintenance, high durability, economical pricing,
  and lightweight. Plastic furniture is generally
  made of polypropylene that has a copolymer for
  impact as well as one for rigidity. It also
  contains 15 filler to offer effectively decrease
  prices and enhance rigidity. The plastic material
  segment is projected to expand at a CAGR of more
  than 4 through the analysis timespan.

• With regards product, the growing adoption of
  daybeds and loungers across several commercial
  application avenues like bars, office lounges,
  hotels, restaurants, resorts, and swimming pools
  is expected to augment the segment growth over
  the coming years. These products offers better
  comfort to consumers and come with superior
  customization and styling capabilities, which his
  further impelling their demand across such
  commercial establishments, fueling industry
  revenues. In 2019, the segment held an industry
  demand share of more than 7.5 with estimates
  anticipating to record more growth over the
  projected timeframe.

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• Regional Analysis

• Steady improvements in economic conditions, rapid
  urbanization, improving lifestyles, and
  increasing level of disposable income of
  consumers across countries like South Korea,
  India, and China is expected to majorly drive the
  Asia Pacific outdoor furniture market share. In
  addition, the growing influence of western trends
  and culture coupled with increasing consumer
  inclination towards multifunctional furniture
  would further drive product demand across the
  Asia Pacific.

• Competitive Analysis

• The competitive landscape of the global outdoor
  furniture market is inclusive of players such as
  Gloster, Fischer Mobel GmbH, Agio International
  Company Limited, Kettal, Homecrest Outdoor
  Living, Treasure Garden Incorporated, Brown
  Jordan, Inter IKEA Group, Century Furniture and
  Ashley Furniture Industries among others.

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Latest Research Report On Outdoor Furniture
Market _at_ https//www.gminsights.com/industry-analy
sis/outdoor-furniture-market
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