Market Overview:
According to a new report by IMIR Market Research on Global Polished Concrete Market Size was valued at USD 2.8 Billion in 2022. The Polished Concrete market industry is projected to grow from USD 2.9 Billion in 2023 to USD 4.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2023 - 2032).
The number of newly constructed houses and companies is increasing, and so is the demand for appealing, durable flooring systems, are the key market drivers enhancing the market growth.
Polished Concrete Market Trends
Growth in construction of new residential & commercial spaces is driving the market growth
One of the main reasons for the increase in demand for polished concrete is the strong demand for it in the construction of hotel flooring and other commercial structures. This is mostly due to polished concrete's benefits, which include good visual appeal for floors, traction resistance, and resistance to wear and tear from heavy foot traffic. Demand is expected to rise significantly in the Middle East, Africa, and Asia-Pacific regions. The demand for polished concrete is anticipated to rise as a result of the sizeable investments made in housing expansions and the rapid industrialisation of these developing countries. The increased visual appeal of a structure or facility is anticipated to increase the market for polished concrete.
It is anticipated that the variable energy and raw material costs related to making polished concrete would continue during the projected timeframe. Variations in the price of raw materials brought on by the price of crude oil and petroleum products may result in an increase in the cost of cement, sealants, and adhesives used in polished concrete. As a result, polished concrete's price is directly impacted by the cost of these components. Vendors increase their prices in reaction to rising raw material costs, which limits the potential growth of polished concrete's market share.
During the anticipated year, there will be a noticeable increase in the number of redevelopment and renovation projects in non-residential buildings. The owners of hotels and resorts are also remodeling the structures that contain their establishments in an effort to draw in more visitors and improve the accommodation experience. For instance, the JW Marriott chain unveiled a new hotel in Canberra, Australia, in September 2019. The hotel has polished concrete floors, which increase the aesthetic appeal of the floors, and the newest design elements. The use of polished concrete is also predicted to rise as a result of increased industry investment in the retail and residential development sectors. Thus, driving the Polished Concrete market revenue.
Scope of Polished Concrete Market Report
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Polished Concrete Market. On the basis of historic growth analysis and current scenario of Polished Concrete market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Polished Concrete market. This further helps users with their developmental strategy.
Polished Concrete Key Market Players & Competitive Insights
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Polished Concrete market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Polished Concrete sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Polished Concrete sector. Major players in the Polished Concrete market, including PPG Industries, Inc., The 3M Company, BASF SE, Sika AG, Ultra Tech Cement Limited, The Sherwin Williams Company, Boral Limited, Solomon Colors Inc., Vexcon Chemicals, Inc., and the euclid chemical company, are attempting to increase market demand by investing in research and development operations.
UltraTech Cement Ltd (UltraTech) is one of the companies that produces cement and ready-mixed products. White cement, wall care putty, conventional portland cement, portland blast furnace slag cement, portland pozzalana cement, and portland composite cement are all part of the company's product portfolio. It also manufactures ready-mixed concrete, which comprises building supplies and specialty concrete such as autoclaved aerated concrete blocks, grouting solutions, jointing mortars, plastering solutions, and waterproofing solutions. A lot of construction projects start with the planning phase, which involves the use of products from the company. Bahrain, Sri Lanka, the UAE, and India are all where the company conducts business. In Mumbai, Maharashtra, India, UltraTech has its corporate headquarters. By investing 12,886 crore in 2022, UltraTech Cement plans to raise its manufacturing capacity by 22.6 million tonnes yearly. The expansion program is projected to be completed by the end of FY23.
PPG Industries Inc. (PPG), a chemical company, manufactures and markets paints, coatings, optical products, and specialty materials. It offers coatings for protection and ornamentation, sealants, and amorphous precipitated silicas. A wide range of end-use sectors are served by the company's clients, including those for industrial equipment and components, packaging materials, aircraft and marine equipment, original equipment manufacturers (OEM) for the automotive industry, automotive refinishing, and industrial and consumer goods. PPG Industries, Inc. purchased the finish paint and coatings producer Tikkurila (Finland) in 2020. Tikkurila's has developed ornamental trademarks and product offerings in numerous Northern and Eastern European countries, where PPG has little market penetration.
Key Companies in the Polished Concrete Market Include
- PPG Industries, Inc.
- The 3M Company
- BASF SE
- Sika AG
- Ultra Tech Cement Limited
- The Sherwin Williams Company
- Boral Limited
- Solomon Colors Inc.
- Vexcon Chemicals, Inc.
- the euclid chemical company
Polished Concrete Industry Developments
November 2020: Sika expands its production capacity in the United Arab Emirates with the construction of a new production plant in Dubai. Along with concrete admixtures, epoxy resins will also be made locally for the target market flooring. In order to increase production flexibility, quicken delivery times, lower inventory, and optimize cost structures, Sika invested in expanding its manufacturing facilities at the Dubai location.
Polished Concrete Market Segmentation
Polished Concrete Type Outlook
- Densifier
- Sealer & Crack Filler
- Conditioner
Polished Concrete Method Outlook
Polished Concrete Construction Type Outlook
- New Construction
- Renovation
Polished Concrete End User Industry Outlook
- Residential
- Non-Residential
Polished Concrete Regional Outlook
- North America
- Europe
- Asia-Pacific
- Rest of the World
Polished Concrete Market Segment Insights
Polished Concrete Method Insights
The global Polished Concrete market segmentation, based on Method, includes dry and wet. Bottom Dry segment dominated the global market in 2022. The increased longevity and better sheen it gives to polished concrete floors may be to blame for the high demand. The concrete surface is ground prior to the dry concrete polishing process using industrial-sized polishing equipment. For each stage of the procedure, a different abrasive polishing disc is needed. These discs usually combine diamond grit, with coarser textures for the initial stages and finer textures to reach the ideal shine.
Polished Concrete Construction Type Insights
The global Polished Concrete market segmentation, based on Construction Type, includes new construction and renovation. New construction segment dominated the global Polished Concrete market in 2022. It's possible that the rising demand is connected to the increased need for polished concrete products, notably those used in offices and warehouses. Polished concrete is preferred for flooring in commercial and industrial settings. Polished concrete's superior performance, durability, and aesthetic appeal are what are causing its demand to rise in the new construction sector. There is a huge growth in demand for polished concrete in non-residential construction.
Polished Concrete Type Insights
The global Polished Concrete market segmentation, based on Type, includes densifier, sealer & crack filler, and conditioner. Densifier segment dominated the global market in 2022. The segment's growth is to be credited for the benefits it offers, such as protection of the concrete flooring system against chemical attack, discoloration, permeable fluids, wear, and deterioration. Demand for densifiers is anticipated to increase during the projection period, along with demand from the non-residential sector, given how well-liked and in-demand they are for polishing concrete.
Polished Concrete End User Industry Insights
The global Polished Concrete market segmentation, based on End User Industry, includes residential and non-residential. Non-residential segment dominated the global Polished Concrete market in 2022. The market for non-residential construction has a higher need for polished concrete goods. The non-residential industry is growing as a result of polished concrete's resilience, aesthetic appeal, and high performance characteristics.
Polished Concrete Regional Insights
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The Asia Pacific Polished Concrete market dominated this market in 2022 (45.80%). The causes of the expansion are increased residential construction, industrialization, and urbanization in Asia-Pacific. For instance, during the epidemic, the China State Construction Engineering Corporate (CSCEC) constructed two hospitals in Wuhan in just 10 to 12 days. This is one of the largest construction companies in China. The market is expected to increase quickly as a result of these construction and expansion projects, which will eventually improve the Asia-Pacific polished concrete market in the coming years. Moreover, In the Asia-Pacific region, the Indian Polished Concrete market had the quickest rate of growth while China's Polished Concrete market had the greatest market share.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The North America Polished Concrete Market is expected to register significant growth from 2023 to 2032. The expansion of the polished concrete market in North America is being driven by technological advancements in the building and construction industry. Single-family homes are becoming more prevalent throughout, but especially in Florida, Georgia, North Carolina, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina. The usage of flooring solutions with a dazzling, glossy, and visually attractive finish in residential applications has had a considerable impact on the market for polished concrete. Further, In the North American area, the U.S. Polished Concrete market had the biggest market share, while the Canada Polished Concrete market had the quickest rate of expansion.
Europe Polished Concrete market accounted for the healthy market share in 2022. Because polished concrete is a useful flooring alternative, the market for it is expected to grow as a result of the severe regulatory restrictions on the production of harmful VOCs and greenhouse gases. Further, In the European region, the German Polished Concrete market had the biggest market share, and the U.K. Polished Concrete market had the quickest rate of growth.
Global Polished Concrete Market Regional Analysis
North America accounted for the highest xx% market share in terms of revenue in the Polished Concrete market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Polished Concrete. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Polished Concrete companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Polished Concrete Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Polished Concrete Market Report is also available for below Regions and Country Please Ask for that
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions
- How much the global Polished Concrete Market valued?
- Which region has the largest share in 2023 for the global Polished Concrete Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Polished Concrete Market
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million
Polished Concrete Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
