Polished Concrete Market: Global Market Analysis and Forecast (2023-2029)

Polished Concrete Market was valued at US$ 2.39 Bn. in 2022. Global Polished Concrete Market size is expected to grow at a CAGR of 5.5 % through the forecast period.
Polished Concrete Market Overview:
The idea of a shiny, ornamental, and aesthetically pleasing floor is pervasive in most end-use industries, which has strengthened market penetration. The need for concrete floor coating formulations is driven by rising renovation projects and residential and commercial construction. One of the key aspects influencing the market is the remodeling initiatives implemented by governments throughout the world for infrastructure and the transportation sector, such as airports, bus stops, metros, and train stations.To know about the Research Methodology :- Request Free Sample Report
Polished Concrete Market Dynamics:
Market Drivers: One of the main reasons for the increase in demand is the strong demand for polished concrete, particularly for the construction of hotel flooring and other commercial structures. This is primarily because polished concrete has many advantages, including the good aesthetic appeal for floors and resilience to sliding and wear and tear from high foot traffic. In the Middle East and Africa as well as the Asia Pacific, a major increase in demand is expected. It is expected that significant investments in housing developments and quick industrialization in these areas' developing nations will increase the demand for global polished concrete market. A building's or facility's increased aesthetic appeal makes more in demand for global polished concrete market.

Additionally, it is expected that the demand for smooth and visually pleasing flooring at cost-effective prices would increase due to construction and renovation projects in the residential and commercial sectors during the forecast period. Growing customer preferences for improving the visual appeal of their houses, reducing energy usage, and updating their aging heating and cooling systems can be largely blamed for the increase in construction and renovation projects.

Market Restraints: The cost of the raw materials and energy used to produce polished concrete is unstable, and this tendency is expected to persist during the forecast period. The fluctuating price of crude oil and petroleum could push up the cost of raw materials, which would then push up the price of cement, adhesives, and sealants used in polished concrete. As a result, the price of these components directly affects how much polished concrete costs. Vendors raise the price of their goods or cut their profit margins in response to rising raw material costs, which will harm the growth of global polished concrete market.

The global polished concrete market's growth is expected to be constrained by the environmental effect connected with the use of polished concrete during the forecast period. The main ingredient of polished concrete is cement, which is the main source of greenhouse gases and carbon dioxide. This factor can have a detrimental effect on the global polished concrete market's growth during the forecast period.

Market Opportunities: There will be a surge in the number of remodel and renovation projects in non-residential spaces during the forecast year. The structures of their establishments are also being renovated by hotel and resort owners to increase their clientele and improve the lodging quality. For instance, JW Marriott debuted a new hotel in Canberra, Australia, in September 2022. The hotel has polished concrete flooring, which further improves the visual appeal of the floors, and it has the newest design accents. The adoption of polished concrete is also expected to be accelerated by rising investments from market participants in the retail sector and residential buildings.

The need for housing, a basic human need, is rising as a result of population growth. It is expected that the fast urbanization and rising need for inexpensive housing will propel the polished concrete market's growth. For instance, the Pradhan Mantri Awas Yojana's Inexpensive Rental Housing Complexes (ARHC) provide good housing for an affordable price to India's urban poor. The market for polished concrete is expanding more quickly as a result of all these causes. The advantages of polished concrete floors, such as their high reflectivity, slip resistance, affordability, and stain resistance, may also create profitable market prospects for market players in the years to come.

Market Challenges: Cement, a key ingredient in concrete, has its own environmental and social effects in addition to substantially influencing those of concrete. One of the main generators of carbon dioxide, a potent greenhouse gas, is the cement market. Additionally, the manufacture of Portland cement is responsible for about 5% of the global anthropogenic CO2 emissions and 2% of the nation's overall CO2 emissions.
Polished Concrete Market Segment Analysis:
Based on Type, The densifier polished concrete sub-segment is expected to command a significant market share on the international scene and generate revenues of $2,919.8 million over the expected year. On top of the concrete slab, a concrete densifier is utilized as a chemical hardener. Additionally, a densifier is employed in the refinement stage of slab polishing. These concrete densifiers fill the slab's pores and increase the surface density. Innovative strategies are being used by manufacturers to capture sizable market share. For instance, Induroshine, a green concrete grinding, and polishing densifier were created by W.R. Meadows.

This densifier is highly durable and VOC compliant. If you need flooring that is dense, durable, and aesthetically beautiful, try the Induroshine densifier. This densifier is used in a variety of places, including as the flooring of shopping malls, hospitals, schools, airports, museums, stadiums, and warehouses. It is expected that the market for polished concrete's numerous uses would fuel growth in the densifier during the study period.

The polished concrete type with sealer and crack filler is forecast to experience the fastest market growth, increasing from $601.8 million in 2022 to $999.9 million in revenue by 2029. By making the flooring more durable, the sealer and crack filler significantly increase the value of the polished concrete. Crack filler and sealer can be utilized in settings where the temperature fluctuates a lot. As a result, polished concrete sealer and crack filler can be utilized at industrial and commercial locations as well as outside of residences. During the expected term, this aspect may have a substantial impact on market growth.



Based on the Construction Type, the global polished concrete market's new construction sub segment is expected to rise quickly and approach $1,506.5 million by 2029, up from $982.4 million in 2022, due to the strong demand for new construction projects such office buildings, warehouses, residential homes, and others. For instance, in the United States, which is renowned for its burgeoning infrastructure and construction projects, $20,000 million was invested in Hudson Yards' construction in New York. One of the largest construction projects in Chelsea and Hudson Yards is this one. In the next years, a number of these new construction projects are expected to boom the global market.

The growth of renovation projects to improve the visual appeal of the floor in an affordable way is estimated to provide the renovation sub-segment a dominant market share in the global market and a revenue of $1,413.1 million over the analysis period. A about 75% of buildings in Europe are energy inefficient and 35% of them are over 50 years in 2022, a European portal for building energy efficiency. Therefore, refurbishment of existing structures is essential for energy efficiency and to lower CO2 emissions. Throughout the forecast period, such factors could generate significant potential for the refurbishment sub-segment.
Polished Concrete Market Regional Insights:
The North American region dominated the market with a 38 % share in 2022. The market for polished concrete in North America generated $809.0 million in revenue in 2022 and is expected to reach $1,292.1 million in sales by 2029. Technology advancements, the growth of the construction and building industries, the rising demand for glossy and aesthetically pleasing flooring systems in residential areas, and the high demand for the construction of logistic hubs are some of the factors that are responsible for the company's robust revenue growth.

The e-commerce market's quick improvements have raised North America's need for additional warehouses and logistical hubs. To draw top e-commerce corporations like Amazon and Home Depot, for instance, The Atlanta Business Chronicles developers in the metro Atlanta area have constructed 18 million square feet of warehouse space. In the end, all of these variables will influence polished concrete demand in North America.

The Asia Pacific region is expected to witness significant growth at a CAGR of 7.1% through the forecast period. Growing government funding for infrastructure development, expanding construction sectors in China, India, and Japan due to population growth, and increased demand for beautiful floorings are some of the main reasons driving the global market's growth.

Increased residential building, industrialization, and urbanization in the Asia-Pacific area will all contribute to the growth. For instance, the China State Construction Engineering Corporate (CSCEC) built two hospitals in Wuhan in a matter of 10 to 12 days during the pandemic. One of China's biggest building firms is this one. The market for polished concrete in the Asia-Pacific region will eventually rise as a result of these quick construction projects and improvements.

The objective of the report is to present a comprehensive analysis of the global Polished Concrete Market to the stakeholders in the market. The past and current status of the market with the market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the market with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the market to the decision-makers.

The reports also help in understanding the Polished Concrete Market dynamic, structure by analyzing the market segments and projecting the Polished Concrete Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Polished Concrete Market make the report investor’s guide.
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Global Polished Concrete Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 2.39 Bn.


Forecast Period 2023 to 2029 CAGR:
5.5%
Market Size in 2029:
US$ 3.48 Bn.


 Segments Covered:
by Type
Densifier
Sealer & Crack Filler
Conditioner


by Construction Type
New Construction
Renovation


by Method
Dry
Wet


by End User
Residential
Non-residential



Polished Concrete Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Polished Concrete Market, Key Players are
1. Pittsburgh Plate Glass Industries, Inc.
2. 3M
3. BASF SE
4. Sika AG
5. Ultra Tech Cement Limited
6. The Sherwin Williams Company
7. Boral Limited
8. Solomon Colors Inc.
9. Vexcon Chemicals Inc.
10. The Euclid Chemical Company
11. dmf concrete
12. Pasadena Concreteworks, Inc.
13. CHARLOTTES CONCRETE
14. Fairfax Concrete
15. BGSB
16. Polished Concrete Systems Inc.
17. TSIAC International
18. Craft Polished Concrete
19. Envision Polished Concrete
20. Danek Flooring, Inc.

Frequently Asked Questions:

1] What segments are covered in the Global Polished Concrete Market report?
Ans. The segments covered in the Polished Concrete Market report are based on Product Type Construction Type, Method and End User.

2] Which region is expected to hold the highest share in the Global Polished Concrete Market?
Ans. The North America region is expected to hold the highest share in the Polished Concrete Market.

3] What is the market size of the Global Polished Concrete Market by 2029?
Ans. The market size of the Polished Concrete Market by 2029 is expected to reach US$ 3.48 Bn.

4] What is the forecast period for the Global Polished Concrete Market?
Ans. The forecast period for the Polished Concrete Market is 2023-2029.

5] What was the market size of the Global Polished Concrete Market in 2022?
Ans. The market size of the Polished Concrete Market in 2022 was valued at US$ 2.39 Bn.