Polished concrete refers to a type of flooring material that involves a multistep process consisting of mechanically grinding and honing the concrete and then polishing it with bonded abrasives to cut a concrete floor’s surface to make dull-looking concrete floors bright, polished, shiny, and attractive and bring them to an equal level by removing stains or any rough surface.
Sizing and Forecast
The polished concrete market size has grown strongly in recent years. It will grow from $2.49 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to pioneering applications, cost-effectiveness, refurbishment and renovation, industrial development influence, commercial and industrial adoption.
The polished concrete market size is expected to see strong growth in the next few years. It will grow to $3.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to resurgence in renovation projects, market expansion in emerging economies, health and hygiene concerns, innovations in design and customization, urbanization and infrastructure development. Major trends in the forecast period include sustainable building practices, architectural aesthetics, durability and longevity, residential adoption, commercial and retail spaces.
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Segmentation & Regional Insights
The polished concrete market covered in this report is segmented –
1) By Product Type: Densifiers & Hardeners, Sealers & Crack Fillers, Conditioners
2) By Method: Dry, Wet
3) By Construction Type: New Construction, Renovation
4) By End-Use Industry: Residential, Non-Residential
North America was the largest region in the polished concrete market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polished concrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for renovation and remodeling is the key driver propelling the growth of polished concrete market. The expanding demand for polished concrete, especially for constructing hotel flooring and other non-residential buildings, is also the main factors responsible for the growth of the polished concrete market. The factors such as durable, low maintenance and easy to clean and advancement in technologies, and also the applications in the usage of glossy and attractive flooring are driving the use of polished concrete non-residential construction. For instance, in March 2021, according to the Joint Center for Housing Studies, a US-based research center, US expenditure on home improvements and repairs experienced a growth of over 3%, reaching nearly $420 billion. Therefore, rising demand for renovation and remodeling will drive the growth of polished concrete market.
Key Industry Players
Major companies operating in the polished concrete market report are BASF SE, Minnesota Mining and Manufacturing Company, The Sherwin-Williams Company, PPG Industries Inc., CHARLOTTES CONCRETE, SIKA AG, Ultratech Cement Limited, Boral Limited, Jon-Don LLC, Cemstone, The Euclid Chemical Company, Bgsb Concrete Solutions (p) Ltd, Solomon Colors Inc., Terrco Inc., Lavina, Concrete Polishing Solutions, DIAMATIC INDUSTRIES, Runyon Surface Prep, National Concrete Polishing & Grinding Inc., Vexcon Chemicals Inc., Bomanite Corporation, Klindex, Stone Medic, Kut-Rite Manufacturing, Pasadena Concreteworks Inc., Fairfax Concrete LLC, DMF Concrete, Polished Concrete Systems Inc., Manassas Concrete Pros, HARLOTTES CONCRETE, Mineral Pulverising Mills, HTC Sweden AB, Superabrasive
The polished concrete market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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