Polished Concrete Market Growth
Polished Concrete Market Growth
Polished concrete market is projected to reach $3.7 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031
PORTLAND, OREGON, UNITED STATES, December 11, 2023 /EINPresswire.com/ -- The global polished concrete market generated $2.2 billion in 2021, and is estimated to reach $3.7 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031.
According to the report published by Allied Market Research, The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Leading players of the global polished concrete market analyzed in the research include 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., and the Euclid Chemical Company.
The report analyzes these key players of the global polished concrete market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Covid-19 Scenario:
The COVID-19 pandemic outbreak has had a negative impact on the growth of the polished concrete market.
The stringent lockdowns imposed in many regions during the crisis prevented several development projects from proceeding. Moreover, the ban on import-export transactions and shortage of raw materials and labor had a significant influence on the building sector.
However, the market has recovered post the pandemic.
The report offers a detailed segmentation of the global polished concrete market based on product, method, construction type, end-use, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product, the densifiers segment held the largest share in 2021, accounting for more than two-fifths of the global polished concrete market, and would rule the roost through 2031. However, the sealers and crack fillers segment is estimated to witness the fastest CAGR of 5.8% during the forecast period. The report also discusses the conditioners segment.
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Based on method, the dry segment held the largest share in 2021, capturing nearly three-fifths of the global polished concrete market, and would lead the trail through 2031. The same segment is estimated to witness the fastest CAGR of 5.7% during the forecast period. The report also discusses the wet segment.
In terms of construction type, the new construction segment captured the largest market share of over half of the global polished concrete market in 2021 and is expected to lead the trail during the forecast period. The renovation segment, on the other hand, is likely to achieve the fastest CAGR of 5.6% through 2031.
In terms of end-use, the non-residential segment captured the largest market share of nearly three-fifths of the global polished concrete industry in 2021 and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 5.9% through 2031. The report also discusses the residential segment.
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Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global polished concrete market share, and is likely to maintain its leadership status during the forecast period. Moreover, the market in the same region is expected to manifest the highest CAGR of 5.8% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific, Europe, and LAMEA.
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