Chicago, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The global Polished Concrete Market is projected to grow from USD 2.2 billion in 2020 to USD 3.0 billion by 2025, at a CAGR of 5.6% from 2020 to 2025, as per the recent study by MarketsandMarkets™. The market is projected to grow in accordance with the increase in the demand for industrial and commercial construction across the globe. Furthermore, the polished concrete market has witnessed a significant increase in its demand, owing to the increase in the warehousing construction, rise in renovation & remodeling activities, and rapid urbanization & globalization.
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Browse In-Depth TOC On “Polished Concrete Market”
135 - Market Data Tables
52 - Figures
161 - Pages
List of Key Players in Polished Concrete Market:
- Sika AG (Switzerland)
- BASF SE (Germany)
- 3M Company (US)
- The Sherwin Williams Company (US)
- PPG Industries, Inc. (US)
- UltraTech Cement Limited (India)
- Boral Limited (Australia)
Drivers, Restraints, Opportunities and Challenges in Polished Concrete Market:
- Drivers: Increased demand for polished concrete for flooring applications.
- Restraints: Volatility in raw materials prices.
- Opportunity: Rise in renovation and remodelling activities globally.
- Challenges: Environmental concerns associated with polished concrete.
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Key Findings of the Study:
- In terms of value & volume, densifier is estimated to lead the polished concrete market in 2019.
- Significant increase in the demand for polished concrete for non-residential construction.
- The North American region is projected to account for the largest share in the polished concrete market during the forecast period.
Densifiers, by type, accounted for the largest market share in the polished concrete market. 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, globally.
Dry, by method, accounted for the greatest demand for polished concrete in 2019, in terms of value and volume. Furthermore, 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.
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The market for polished concrete is segmented based on the construction type, into new construction and renovation. The new construction segment caters the largest share in the global polished concrete market, and generates higher demand for the polished concrete products, majorly for warehousing and office applications. Furthermore, polished concrete has been widely preferred in the flooring of any new constructed building due to their affordability, aesthetic look, ease of maintenance and sustainability.
Based on end-use sector, Non-residential is projected to be the larger segment in the polished concrete market. The non-residential segment generates higher demand for the polished concrete products and is preferred for warehousing as well as commercial buildings. The growth in the non-residential segment is due to the longevity, glossy & attractive appeal, and high-performance properties of polished concrete.
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