Covina, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Terrazzo flooring is a mosaic flooring which consists of small pieces of granite set, marble, shell, glass, quartz, in mortar with high polish. Terrazzo flooring are weather and waterproof and are considered as a new luxury in the world of design.
Growing construction activities across globe coupled with increased product demand in commercial building construction has provided lucrative opportunities in target market growth. Presence of major players and huge investment in research & development activities to expand their product lines worldwide has further, anticipated to increase the demand for Terrazzo Flooring market growth over the forecast period.
Get a Free Sample of this Research Report
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/1155
Key Highlights
- In March 2022, Flowcrete, the Construction Products Group (CPG) has transformed its Mondeco seamless terrazzo flooring with new trends, best bespoke designs and with new high-performance formulation which gives specifiers and architects a long-lasting beauty underfoot.
Market Segmentation
- By Type: Epoxy Terrazzo and Cement-Based Terrazzo
- By Application: Educational Institutions, Commercial, Government Buildings, Transport Infrastructure, and Others
- By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Drivers
The following factors are driving the growth of the terrazzo flooring market:
- Increasing demand for sustainable and durable flooring solutions
- Growing trend of using terrazzo in commercial and residential applications
- Rising disposable incomes in emerging markets
- Increasing urbanization
Market Challenges
The following factors are challenging the growth of the terrazzo flooring market:
- High cost of terrazzo flooring
- Lack of skilled terrazzo flooring installers
- Competition from other types of flooring materials, such as ceramic tile and vinyl
Market Trends
The following trends are shaping the terrazzo flooring market:
- Increasing demand for epoxy terrazzo
- Growing use of terrazzo in outdoor applications
- Rising popularity of sustainable terrazzo flooring solutions
Analyst View:
Wide variety of benefits such as low cost and low maintenance of terrazzo as it is most durable and suitable for high-traffic public access buildings such as airports which has driven market growth. Growing market consolidation activities among players with strategic acquisitions, mergers and collaborations to launch new product and to strengthen its position in market is likely to propel Terrazzo Flooring market growth.
Get a Free Sample of this Research Report
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/1155
Competitive Landscape
Key players in the global terrazzo flooring market includes, 4m Group SpA, Concord Terrazzo Company, Inc., Diespeker & Co., Kingspan Group Plc., KREZ Group, Quiligotti Terrazzo Tiles Limited, RBC Industries, Inc., RPM International Inc., Terrazzo Masters, and The Venice Art Terrazzo Co., Inc.
Market Outlook
The terrazzo flooring market is expected to continue to grow in the coming years, driven by the increasing demand for sustainable and durable flooring solutions, as well as the growing trend of using terrazzo in commercial and residential applications. The Asia Pacific region is expected to be the fastest-growing market for terrazzo flooring in the coming years.
Conclusion
The terrazzo flooring market is a growing market with a number of opportunities for players in the market. The market is driven by the increasing demand for sustainable and durable flooring solutions, as well as the growing trend of using terrazzo in commercial and residential applications. The Asia Pacific region is expected to be the fastest-growing market for terrazzo flooring in the coming years.
Related Reports
- Automotive Flooring Market- Trends, Analysis and Forecast till 2029
- Flooring Market- Trends, Analysis and Forecast till 2029
- India Floor Covering Market- Trends, Analysis and Forecast till 2030
Blog: www.prophecyjournals.com
Follow us on:
LinkedIn | Twitter | Facebook |YouTube
