Dublin, April 10, 2023 (GLOBE NEWSWIRE) -- The "Polished Concrete Market By Product, By Method, By Construction Type, By End-Use: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global polished concrete market is anticipated to reach $3,683.4 million by 2031, growing from $2,148.7 million in 2021 at a CAGR of 5.3% from 2022 to 2031.
Companies Mentioned
- 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.
- the euclid chemical company
Polished concrete is a multi-step process that involves mechanically grinding and honing the concrete and then polishing it with bonded adhesives. This process offers a glossy finish to the floors, and it is widely used in commercial and residential projects. Grinding, honing, and polishing concrete flooring are some of the steps in the process of creating polished concrete.
Increase in demand for polished concrete for hotel flooring construction, warehouses or logistic clubs, rise in need for aesthetic appeal, and growth in renovation projects internationally are all contributing factors to the global market growth. Furthermore, government programs for infrastructure improvements is boosting market revenue growth.
The cost of polished concrete is high. While polishing might cost up to twice as much as sealing, sealing concrete costs more than the total installation cost for carpet tile. The price of polished concrete can be doubled by adding a thin decorative coating to the top of an existing slab that is constructed of any combination of cement, sand, or other additives blended with polymer resin.
Numerous problems can occur, such as poor acoustics, cracking, a higher risk of slips and falls, and discomfort when walking on concrete applications. These factors could restrict the market for polished concrete.
Housing needs, a fundamental human necessity, are increasing as a result of population expansion. The rapid urbanization and increase in need for affordable homes are anticipated to drive the polished concrete market expansion.
For instance, the Pradhan Mantri Awas Yojana's Affordable Rental Accommodation Complexes (ARHC) give India's urban quality housing at a reasonable cost. All these factors are leading to a faster growth in the polished concrete industry. Furthermore, benefits of polished concrete floors, such as their high reflectivity, traction resistance, affordability, and stain resistance, may open lucrative market opportunities for industry participants in the years to come.
The pandemic's impacts on demand for polished concrete was witnessed in 2020-2021 in the global polished concrete market. Due to COVID-19, the polished concrete market has experienced a decline in 2020 and a drop in demand. In addition, the COVID-19 has hindered the raw material requirement for polished concrete, the supply chain, trade movements, construction demand was declined, and there was less need for new projects.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polished concrete market analysis from 2021 to 2031 to identify the prevailing polished concrete market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the polished concrete market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global polished concrete market trends, key players, market segments, application areas, and market growth Strategies.
Key Market Segments
By Product
- Densifiers
- Sealers Crack Fillers
- Conditioners
By Method
- Dry
- Wet
By Construction Type
- New Construction
- Renovation
By End-Use
- Residential
- Non-Residential
For more information about this report visit https://www.researchandmarkets.com/r/v88yne
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