Polished Concrete Market by Type (Densifier, Sealer & Crack Filler, Conditioner), Method (Dry, Wet), Construction Type (New Construction, Renovation), End-use Sector (Residential, Non-residential), and Region - Global Forecast to 2025
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-maintainence 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.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the polished concrete market.
By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
By Designation: C-level: 40%, D-level: 35%, and Others: 25%
By Region: North America: 20%, Europe: 35%, APAC: 25%, Middle East & Africa: 15%, and South America: 5%
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.
The market study covers the polished concrete market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, method, construction type, end-use sector, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the polished concrete market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall polished concrete market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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