Market Research Future (MRFR) has published a cooked research report on the “Global Polished Concrete Market” that contains information from 2022 to 2032. The Global Polished Concrete Market is estimated to register a CAGR of 5.90% during the forecast period of 2022 to 2032.
MRFR recognizes the following companies as the key players in the Global Polished Concrete Market: 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
The Global Polished Concrete Market is accounted to register a CAGR of 5.90% during the forecast period and is estimated to reach USD 4.2 Billion by 2032.
the polished concrete market refers to the segment of the construction and building materials industry that deals with the production, distribution, and installation of polished concrete surfaces. Polished concrete is a flooring option that involves a multi-step mechanical process of grinding, honing, and polishing the concrete surface to achieve a smooth, glossy, and aesthetically pleasing finish. The polished concrete market has been witnessing significant growth due to several factors, including: Polished concrete offers a sleek and modern appearance that is increasingly popular in residential, commercial, and industrial settings., Polished concrete is highly durable and resistant to wear, making it a preferred choice for high-traffic areas., and compared to other flooring options, polished concrete requires minimal maintenance, reducing long-term costs.
The Global Polished Concrete Market has been segmented based on Type, Method, Construction Type, and End Use
Based on Type, the market is segmented into Densifier, Sealer & Crack Filler, and Conditioner. the densifier segment emerged as the dominant force in the global market during 2022. This can be attributed to the numerous benefits it offers, including safeguarding the concrete flooring system against chemical attacks, discoloration, permeable fluids, wear, and deterioration.
Based on Method, the market is segmented into Dry and Wet. The Bottom Dry method secured a leading position in the global market in 2022. This is primarily due to the enhanced sheen and durability it imparts to polished concrete floors, resulting in robust demand. In the dry concrete polishing process, industrial-sized polishing machinery is employed to grind the concrete surface.
Based on Construction Type, the Market has been segmented New Construction and Renovation. During 2022, the new construction segment emerged as the dominant force in the market. The increasing demand for polished concrete products, especially for applications in offices and warehouses, can be linked to this growth. Polished concrete is increasingly preferred for both commercial and industrial spaces as a flooring option.
Based on End Use, the Market has been segmented Residential and Non-Residential. In 2022, the non-residential segment held a dominant position in the market. The demand for polished concrete products is notably higher in the non-residential sector. This can be attributed to the durability, aesthetic appeal, and high-performance capabilities that polished concrete offers, making it a preferred choice in non-residential spaces such as commercial buildings, offices, warehouses, and industrial facilities.
The Global Polished Concrete Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Polished Concrete Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Polished Concrete Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Polished Concrete Market comprises of Middle East, Africa, and Latin America.
In 2022, the Asia Pacific Polished Concrete market asserted its dominance, commanding a significant share of 45.80% in the global market. The growth of the market in this region can be attributed to several factors, including the surge in residential construction, rapid industrialization, and urbanization.
Anticipated growth is on the horizon for the North America Polished Concrete Market between 2023 and 2032. The driving force behind this growth lies in the continuous technological advancements within the building and construction sector. Notably, in states such as Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina, the surge in single-family home constructions across the United States has had a significant impact on the polished concrete market.
In Europe, the Polished Concrete market also witnessed healthy growth and market share in 2022. Stricter government regulations pertaining to the emission of dangerous volatile organic compounds (VOCs) and greenhouse gases have played a pivotal role in driving the demand for polished concrete as a practical and environmentally-friendly flooring option.
Key Findings of the Study