New York, United States , Nov. 10, 2023 (GLOBE NEWSWIRE) -- The Global Polished Concrete Market Size is to Grow from USD 2.43 Billion in 2022 to USD 4.7 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.04% during the projected period.
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Polished concrete, often known as screed concrete, is more of a decorative finish than a cladding. Polished concrete is created by physically honing, polishing, and grinding the concrete's floor with bonded abrasives to smooth off its outermost layer. Then, after each cut, it is modified until the appropriate amount of look is attained. In this operation, a penetrant chemical known as a hardener is also employed. This product is generally used in parking lots, retail malls, and sports fields, as well as a few indoor settings. The rising demand for hotel floors and other commercial projects is one of the primary causes of polished concrete's surge in popularity. This is mostly due to polished concrete's several benefits, which include a good floor look as well as resilience against slippage and deterioration from heavy pedestrian traffic. Furthermore, throughout the projection period, construction and renovation projects in both the commercial and residential markets are likely to enhance demand for smooth and visually appealing flooring at competitive prices. Because of increased demand in both residential and commercial buildings, the polished concrete sector is expected to grow greatly in the future. The increasing demand for polished concrete, notably for the building of hotel flooring and other commercial constructions, is a significant element driving the increase in demand. This is mostly due to polished concrete's multiple advantages, such as its high visual appeal to floors and resistance to sliding and damage caused by heavy foot traffic.
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The densifier segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global polished concrete market is segmented into the densifier, sealers & crack fillers, and conditioners. Among these, the densifier segment is dominating the market with the largest revenue share of 43.6% over the forecast period. Densifiers' multiple benefits, including as resistance to chemical damage, discoloration, permeable fluids, wear, and deterioration, have led to the segment's growth.
The capacitive segment is witnessing significant CAGR growth over the forecast period.
On the basis of new construction, the global Polished Concrete market is segmented into new construction and renovation. Among these, the new construction segment is witnessing significant CAGR growth over the forecast period. This rising demand could be attributed to the expanding market for polished concrete products, which are mostly employed in manufacturing and workplace applications. Polished concrete is quite popular for industrial and commercial floors and amenities.
The non-residential segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of the end-use industry, the global Polished Concrete market is segmented into residential and non-residential. Among these, the non-residential segment is dominating the market with the largest revenue share of 57.2% over the forecast period. The non-residential market is expanding due to the durability, design appeal, and high-performance attributes of polished concrete.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 47.2% market share over the forecast period. The growth in sales can be attributed to causes such as technological improvements and the growing popularity of the construction and building sectors, increased demand for glossy and appealing flooring systems in residential structures, and an increasing requirement for transportation center construction. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. Rising residential buildings, industrialization, and urbanization in the Asia Pacific are among the key factors driving the growth of the polished concrete market. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market Major vendors in the Global Polished Concrete Market include Danek Flooring, Inc., PPG Industries, Inc., 3M Company, BASF SE, SIKA AG, Boral Limited, Solomon Colors Inc., Vexcon Chemicals, Inc., The Euclid Chemical Company, The Sherwin-Williams Company, UltraTech Cement Limited, Fairfax Concrete, TSIAC International, Polished Concrete Systems Inc., Envision Polished Concrete among others.
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Recent Development
On May 2022, Ameripolish introduced the SmartFloorTM Maintenance technique, a technique for cleaning and maintaining polished concrete floors. The daily care kit, which includes unique diamond polishing pads and a revitalizing cleaner, helps to protect and improve the appearance of concrete floors. The Ameripolish Rejuvenating Cleaner is formulated with sealer reinforcement that cleans without harsh chemicals and includes built-in antimicrobial protection to provide further pathogen protection.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Perlite Market based on the below-mentioned segments:
Perlite Market, Form Analysis
- Crude
- Expanded
Perlite Market, Application Analysis
- Plaster
- Mortar
- Ceiling Tiles
- Concrete
- Others
Perlite Market, End-User Analysis
- Construction
- Horticulture & Agriculture
- Industrial
- Others
Perlite Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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