Polished Concrete Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Polished Concrete Market was valued at USD 2.01 Billion in 2022 and is projected to reach USD 3.05 Billion by 2030, growing at a CAGR of 5.34% from 2022 to 2030.
Polished Concrete Market Overview:
Polished concrete floors are used to make a dull looking concrete floor bright, glossy, shiny and attractive. They are used to transform concrete floor surfaces and bring them to a unified level by removing stains and rough or uneven surfaces. Polish the floor first with a coarse abrasive disc, then with a fine abrasive disc to create a glossy, smooth floor, and finally with a concrete grinder with an ultra-fine abrasive disc. surface. Polished concrete is being used instead of conventional flooring because of its aesthetics and attractive appearance. This process can be done in two ways: dry and wet. The dry method is preferred because it is environmentally friendly and poses less risk to people working on site during the process. Additionally, the dry method is cost effective, more glossy, and suitable for large and small open areas. Polished concrete floors are required in the housing sector, shops, hotels and restaurants.
Polished Concrete Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Polished Concrete Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In March 2021, DriTac was acquired by Sika AG, and the acquisition will ensure market expansion of Sika AG's industry.
- In 2019, China approved investment in the construction of 26 infrastructure projects. This massive investment in construction will ultimately drive the polished concrete market.
Major Market Segments Covered in Polished Concrete Market Industry Research:
Market Key Players:
Laurel, Polished Concrete, DMF, Pasadena, Germantown, Charlotte, And Others.
- Densifiers & Hardeners
- Sealers & Crack Fillers
By Construction Type:
- New Construction
North America is expected to account for the largest revenue share in the global polished concrete market during the forecast period. Robust revenue growth is driven by factors such as technological advancements and expansion in the construction and building sector, increasing demand for glossy and aesthetic flooring systems in residential areas, and high demand for construction of logistics hubs.
The Asia Pacific market is expected to account for the fastest revenue growth rate during the forecast period. Expansion of the construction sector in China, India and Japan owing to population growth, increasing government support for infrastructure development, and rising demand for attractive flooring are the major factors fueling the global market growth.
- North America
- Rest of North America
- The Netherlands
- Nordic Countries
- Benelux Union
- Rest of Europe
- Rest of Southeast Asia
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
One of the main reasons for the increase in demand is the strong demand for polished concrete, especially for the construction of hotel floors and other commercial structures. This is primarily because polished concrete has many benefits, including aesthetic appeal for floors and resilience to slip and wear caused by heavy traffic. Significant growth in demand is expected in the Middle East & Africa and Asia Pacific regions. Significant investments in housing development and rapid industrialization in developing countries in the region are expected to boost the demand for the global polished concrete market. Increasing aesthetic appeal of a building or facility increases the demand for the global polished concrete market.
Additionally, construction and renovation projects in the residential and commercial sectors during the forecast period are expected to boost the demand for sleek and visually pleasing flooring at cost-effective prices. Construction and refurbishment projects are on the rise as customers increasingly want to improve their homes' visual appeal, reduce energy use, and update aging heating and cooling systems.
Raw material and energy costs used to produce polished concrete are unstable and this trend is expected to continue over the forecast period. Fluctuating prices of crude oil and petroleum may drive up the cost of raw materials, which will drive up the prices of cements, adhesives and sealants used in polished concrete. As a result, the price of these components directly affects the cost of polished concrete. Vendors increase product prices or reduce profit margins in response to rising raw material costs, which will harm the growth of the global polished concrete market.
The growth of the global polished concrete market is expected to be constrained during the forecast period due to environmental impacts associated with the use of polished concrete. The main component of polished concrete is cement, which is the main culprit of greenhouse gases and carbon dioxide. This factor may have a detrimental impact on the growth of the global polished concrete market during the forecast period.
During the forecast year, the number of remodeling and renovation projects of non-residential space will surge. Their facility structure is being renovated by hotel and resort owners to increase their guests and improve the quality of their stay. For example, JW Marriott unveiled a new hotel in Canberra, Australia in September 2021. The hotel uses polished concrete floors to further enhance the floor's visual appeal and has up-to-date design accents. Adoption of polished concrete is expected to accelerate with increasing investment from market players in the retail sector and residential buildings.
Due to population growth, the demand for housing, a basic human need, is increasing. Rapid urbanization and increasing demand for affordable housing are expected to propel the growth of the polished concrete market. For example, the Affordable Housing Complex (ARHC) of Pradhan Mantri Awas Yojana provides good affordable housing to India's urban poor. The polished concrete market is expanding more rapidly as a result of all these causes. The advantages of polished concrete floors, such as high reflectivity, slip resistance, affordability, and stain resistance, may provide lucrative market prospects for market participants in the future.
Polished Concrete Market report scope:
Key Takeaways from this Polished Concrete Market Report
- Estimate Polished Concrete Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Polished Concrete Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Polished Concrete Market?
The Polished Concrete Market is growing at a CAGR of 5.34% During Forecast Period.
What are the key types of Polished Concrete Market?
Conditioners, Densifiers & Hardeners, Sealers & Crack Fillers
What are the key applications of Polished Concrete Market?
Who are the key players in Polished Concrete Market?Laurel, Polished Concrete, DMF, Pasadena, Germantown, Charlotte, And others.