The Global Polished Concrete Market size is projected to grow from USD 2.2 billion in 2020 to USD 3.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast year.
Browse 135 market data Tables and 52 Figures spread through 161 Pages and in-depth TOC on "Polished Concrete Market by Type (Densifier, Sealer & Crack Filler, Conditioner), Method (Dry, Wet), Construction Type (New Construction, Renovation), End-use Sector (Residential, Non-residential), and Region - Global Forecast to 2025"
In terms of value & volume, densifier is estimated to lead the polished concrete market in 2019.
Densifiers, by type, accounted for the largest market share in the polished concrete market. The growth of the densifier segment can be attributed to the benefits it offers, such as protection to the concrete flooring system against chemical attack, staining, permeable fluids, wear, and degradation. The densifier is widely preferred and demanded for the concrete polishing, and its demand is expected to accelerate during the forecast period, with the increase in the demand from the non- residential sectors, globally.
Dry segment is estimated to be the largest segment in the polished concrete market in 2019.
Dry, by method, accounted for the greatest demand for polished concrete in 2019, in terms of value and volume. Furthermore, dry segment is projected to be the fastest-growing method for the polished concrete, by 2025, in terms of value as well as volume. The high demand can be attributed to the higher shine and durability it offers to the polished concrete floors. For the dry concrete polishing method, the surface of the concrete is ground using commercial-scale polishing machines. Each stage of the process requires a different abrasive polishing disk, often incorporating diamond grit, with coarser textures for earlier stages and finer ones to get the final shine.
New construction segment to dominate the polished concrete market in 2019.
New construction, by construction type, accounted for the largest demand for polished concrete in 2019, in terms of value and volume. Furthermore, new construction is projected to be the fastest-growing segment for the polished concrete, by 2025, in terms of value as well as volume. Many manufacturers have promoted use of polished concrete as a green movement as it can provide them to achieve LEED ratings for their organization. This can be attributed to its high reflectivity, neutral impact on indoor air quality and longer lifespan. This in turn, boosts the demand for polished concrete for newly installed flooring systems of residential as well as non-residential buildings.
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Expansions accounted for the largest share of all the strategic developments that took place in the polished concrete market between 2017 and 2020. Key players such as BASF SE (Germany), and SIKA AG (Switzerland), adopted these strategies to enhance their market presence and strengthen their manufacturing and distribution capabilities in the polished concrete market.
PPG Industries is a global manufacturer and supplier of specialty materials, paints, optical products, and coatings. It caters to a large customer base in various markets, such as consumer products, industrial, construction, and transportation. The company is financially and strategically well placed and has a strong customer base. It gives increasing importance to R&D activities. It focuses on expanding its existing distribution network to serve customers better. Further, it focuses on innovating and expanding its existing product portfolio for industrial and performance coatings business segments.
BASF SE is one of the leading chemical companies with a portfolio that provides chemicals, plastics, performance products, and crop protection products to the oil and gas industry. It has a broad product portfolio, which has encouraged sustained investment in new product developments. The immense strength of the company in R&D activities and expertise in construction and specialty chemical applications are the major factors that are projected to encourage its growth in the next five years.
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