New York, USA, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global polished concrete market. As per the report, the market is anticipated to garner $2,920.0 million and rise with a CAGR of 6.1% in the 2020-2027 timeframe. This all-inclusive report delivers a comprehensive overview of the current and future situation of the polished concrete market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
COVID-19 Impact on the Polished Concrete Market Growth
The outbreak of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the polished concrete market. During the pandemic, the government of several regions executed strict lockdowns owing to which many construction activities were stopped. Also, the restrictions on import-export activities, shortage of raw materials, and dearth of labor force amidst the pandemic greatly impacted the construction industry. All these factors hindered the market growth during the crisis period.
Factors Impacting the Polished Concrete Market Growth
Growing construction activities worldwide, increasing global population, and increasing demand for commercial and residential places with attractive interiors and exteriors are augmenting the growth of the global polished concrete market. Additionally, growing demand for affordable housing and speedy rise in urbanization are estimated to unlock lucrative opportunities for the market’s growth in the forecast period. However, severe environmental hazards of using polished concrete is anticipated to deter the market’s growth.
The report segments the global polished concrete market into type, method, construction types, end user, and region.
Densifier Sub-Segment to Grab a Foremost Share of the Market
Among the type segment, the densifier sub-segment is expected to hit $2,919.8 million in the estimated timeframe. As a densifier plays a key role in slab polishing during the refinement processing, its demand is increasing. This factor is estimated to boost the sub-segment growth in the projected timeframe.
Dry Sub-Segment to Grow Remarkably
Among the method segment, the dry sub-segment is foreseen to garner $1,614.6 million in the forecast period. This growth is mainly because the dry method offers intense hardening, enhanced shine, and condensed floor for both small as well as open spaces.
New Construction Type Sub-Segment to Grow Speedily
Among the construction types segment, the new construction type sub-segment is expected to hit $1,506.5 million in the forecast period. This growth is mainly because of the increasing demand for new projects such as warehouses, residential houses, office spaces, and much more.
Residential Sub-Segment to Observe Maximum Growth
Among the end-user segment, the residential sub-segment is predicted to surpass $1,377.7 million in the forecast period. This growth is mainly because of the speedy rise in the global population that is impelling the demand for residential places.
North America Region to Perceive Maximum Growth
The report analyzes the global polished concrete market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is projected to observe increased growth and exceed $1,292.1 million in the projected period. This growth is mainly owing to the growing advances in the e-commerce sector which have surged the demand for the construction of logistics and warehouse centers in the region.
Major Players in the Market
The report lists some of the foremost players functioning in the global polished concrete market including
- The Euclid Chemical Company
- Vexcon Chemicals Inc.
- Sika AG
- 3M
- Pittsburgh Plate Glass Industries, Inc.
- Ultra Tech Cement Limited
- The Sherwin Williams Company
- Solomon Colors Inc.
- Boral Limited
- BASF SE
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in June 2022, Ameripolish, a leader in the innovation of concrete chemical technology, launched the SmartFloor™ Refinement System for easy refurbishing of polished concrete floors.
Post COVID-19 Impact Insights on Polished Concrete Market. Ask an Analyst or Schedule a call
More about Polished Concrete Market:
- Types and Wonderful Benefits of Polished Concrete
- Global Polished Concrete Market to Witness Significant Growth with the Launch of Advanced Flooring Products
- How Effectively Has Concrete Conditioner Helped Industrial Sectors to Maintain a High-Quality Polished Concretes for a Prolonged Period?
