The global polished concrete market size is projected to grow from USD 2.2 billion in 2020 to USD 3.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.6%.
The global polished concrete industry has witnessed high growth primarily because of the increasing demand for durable and low-maintenance construction products worldwide. Demand for appealing & attractive, cost-effective, and durable flooring applications is another key factor contributing towards the increasing growth of the polished concrete market over the next few years.
In terms of value, densifier segment to be the fastest-growing segment by 2025.
The densifier segment is projected to grow at the highest CAGR from 2020 to 2025. The growth of the densifier segment can be attributed to the benefits it offers, such as protection to the concrete flooring system against chemical attack, staining, permeable fluids, wear, and degradation. The densifier is widely preferred and demanded for the concrete polishing, and its demand is expected to accelerate during the forecast period, with the increase in the demand from the non- residential sectors.
In terms of both value and volume, dry segment is projected to be the fastest-growing segment from 2020 to 2025, for polished concrete.
Dry segment is projected to be the fastest-growing method for the polished concrete, by 2025, in terms of value as well as volume. The high demand can be attributed to the higher shine and durability it offers to the polished concrete floors. For the dry concrete polishing method, the surface of the concrete is ground using commercial-scale polishing machines. Each stage of the process requires a different abrasive polishing disk, often incorporating diamond grit, with coarser textures for earlier stages and finer ones to get the final shine.
In terms of both value and volume, non-residential is projected to be the fastest-growing segment from 2020 to 2025, for polished concrete.
Non-residential is projected to be the fastest-growing segment in the polished concrete market. The application of polished concrete in this sector is driven by increasing installations in new non-residential buildings, renovations, and restructuring. The use of polished concrete on floors enhances its appearance, and esthetic appeal. Furthermore, the usage of glossy and attractive floorings in industrial as well as commercial applications has been a key factor driving the demand for polished concrete across the non-residential segment.
In terms of both value and volume, the APAC polished concrete market is projected to grow at the highest CAGR during the forecast period.
In terms of value and volume, the APAC region is projected to grow at the highest CAGR from 2020 to 2025. Emerging economies in APAC are expected to experience significant demand for polished concrete as a result of the expansion of the construction industries due to rapid economic development and government initiatives toward infrastructural development.
The growing population in these countries represents a strong customer base. The increase in demand for polished concrete can be largely attributed to the growing infrastructure and building & construction industries and durable, attractive and sustainable flooring systems.
The global polished concrete market comprises major material manufacturers, such as PPG Industries, Inc. (US), 3M Company (US), BASF SE (Germany), UltraTech Cement Limited (India), SIKA AG (Switzerland), Boral Limited (Australia), and The Sherwin-Williams Company (US), amongst others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 184.108.40.206 Increasing Demand For Polished Concrete For Flooring Applications 220.127.116.11 Rise In The Demand For Cost-Effective And Green Flooring System 5.2.2 Restraints 18.104.22.168 Volatility In Raw Material Prices 5.2.3 Opportunities 22.214.171.124 Population Growth And Rapid Urbanization Translating To Large Number Of Construction Projects 126.96.36.199 Rise In Renovation And Remodeling Activities Globally 5.2.4 Challenges 188.8.131.52 Environmental Concerns Associated With Polished Concrete 5.3 YC-YCC Drivers 5.4 Tariff And Regulatory Analysis 5.4.1 List Of Cement Standards And Concrete Standards Developed By Astm International 5.4.2 Osha (Occupational Safety And Health Administration) Standards For Cement And Concrete 5.5 Market Mapping/Ecosystem Map 5.6 Patent Analysis 5.6.1 Methodology 5.6.2 Document Type 5.6.3 Insights 5.6.4 Top Applicants 5.6.5 List Of Some Important Patents 5.7 Technology Analysis 5.8 Pricing Analysis 5.9 Case Study Analysis 5.10 Trade Analysis
6 Industry Trends 6.1 Introduction 6.2 Supply Chain Analysis 6.2.1 Material Manufacturer 184.108.40.206 Prominent Companies 220.127.116.11 Small & Medium Enterprises 6.2.2 Contractor/ Service Provider 18.104.22.168 Prominent Service Providers 22.214.171.124 Small & Medium Service Providers 6.3 Porter's Five Forces Analysis
7 Covid-19 Impact On Polished Concrete Market 7.1 Introduction 7.2 Covid-19 Impact On Polished Concrete Market 7.2.1 Impact On End-Use Sectors