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Polished Concrete Market Report

RA08390

Polished Concrete Market by Type (Densifier, Sealer & Crack Filler, and Conditioner), Method (Dry and Wet), Construction Type (New Construction and Renovation), End Use (Residential and Non-residential), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
Update Available On-Demand

RA08390

Pages: 242

Apr 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Polished Concrete Market

The global polished concrete market is predicted to garner $2,920.0 million in the 2020–2027 timeframe, growing from $1,832.9 million in 2019 at a healthy CAGR of 6.1%.

Market Synopsis

Strategic acquisitions among market players, along with the launch of advanced and new polished concrete products, is anticipated to drive the growth of the polished concrete market.

However, the environmental impact associated with the use of cement as a base material in polished concrete is a growth restraining factor for the market.

According to the regional analysis of the market, the North America polished concrete market is anticipated to grow at a CAGR of 6.2% by generating a revenue of $1292.1 million during the review period.

Polished Concrete Overview

Polished concrete is a multi-step process that involves mechanically grinding and honing the concrete and then polishing it with bonded adhesives. This process endures glossy finish to the floors, and it is widely used in commercial and residential projects.

Impact Analysis of COVID-19 on the Global Polished Concrete Market

The novel coronavirus pandemic had a devastating effect on several industries, the polished concrete market has also experienced a negative impact as all the construction projects across many countries were postponed until further notice. Further, the movement of people, supply chain disruptions and availability of raw material was greatly impacted during the pandemic. The migration of workers from cities to their native places has increased during pandemic. For instance, in India due to ban on inter-state travel the construction workers were forced to move to their native places. Further, the price of raw materials increased due to supply chain issues across various countries. All these aspects greatly affected the construction industry thereby reducing the demand for polished concrete that is widely used in construction.

The several companies, with their strategic steps, are helping the society to recover from the chaotic situation that COVID-19 has brought with itself. For instance, on September 17, 2020, The International Standards and Training Alliance (INSTALL) had made an emphasis to work with building architects and designers for specifying flooring guidelines for COVID-19 to ensure safety. For instance, the porous surfaces are more prone to bacteria and germs, including the COVID-19 virus. Hence, contractors recommend the use of semi-porous sheet flooring or non-porous flooring. As polished concrete flooring provides non-porous surface, it is an effective flooring solution. The above-stated benefits may generate substantial investment opportunities in the market, amid the COVID-19 crisis.

Growing Construction Activities to Surge the Market Growth

The global polished concrete industry is witnessing a rapid growth mainly due to increase in construction activities across the world. The construction activities are growing rapidly due to growing population in emerging economies such as India and China. Hence, these factors are driving the demand for residential and commercial spaces with high demand for low maintenance and durable flooring with polished and attractive floors. Such key factors may surge the growth of the market.

Moreover, the reconstruction and remodeling activities in residential and commercial sector increasing the demand for smooth and aesthetically pleasant flooring at cost-effective price is predicted to impel the polished concrete market growth during the forecast time. The growth in reconstruction and remodeling projects can be majorly attributed to changing consumer preferences for enhancing aesthetic look of their homes, streamlining the energy usage and upgrading the outdated heating and cooling systems at their homes. For instance, the rapid developments of smart cities and megaprojects like Masdar City in the Emirates, Hudson Yards in the New York and other such projects are expected to drive the demand for polished concrete. These type of reconstruction, remodeling, renovation and new construction projects are predicted to drive the growth of the market.

To know more about global polished concrete market drivers, get in touch with our analysts here.

Environmental Impact with the Use of Polished Concrete to Restrain the Market Growth

The environmental impact associated with the use of polished concrete is expected to restrain the growth of the global market during the forecast period. The key component of polished concrete is cement, which is the largest producer of carbon dioxide and greenhouse gases. This aspect may create a negative impact on the growth of the market during the forecast period.

Growing Population and Rapid Urbanization to Create Massive Investment Opportunities

The population growth is leading to an increase in demand for housing, a basic necessity of human beings. The rapid urbanization and increase in demand for affordable houses is estimated to drive the polished concrete market growth. For instance, the Affordable Rental Housing complexes (ARHC) under the Pradhan Mantri Awas Yojana, offers decent living at an affordable price to the urban poor population of India. All these factors are accelerating the growth of polished concrete market.  

The benefits associated with the use of polished concrete floors such as high reflectivity, slip resistance, cost-effectiveness, stain-resistance may further lead to lucrative market opportunities for market players in the upcoming years. The polished concrete floors are LEED (Leadership in Energy and Environmental Design) friendly and facilitate sustainable building construction without the emission of VOCs (Volatile Organic Compounds). Such key benefits may further lead to lucrative market opportunities for the market players in the upcoming years.

To know more about global polished concrete market opportunities, get in touch with our analysts here.

Global Polished Concrete Market, by Type

Based on type, the market has been divided into densifier, sealer & crack filler, and conditioner sub-segments of which densifier sub-segment is projected to generate the maximum revenue and sealer & crack filler sub-segment is predicted to show the fastest growth.

Global Polished Concrete Market, by Type

Source: Research Dive Analysis

The densifier polished concrete sub-segment is predicted to have a dominating market share in the global market and is expected to register a revenue of $2,919.8 million during the forecast period. Concrete densifier is used as a chemical hardener that is applied on top of the concrete slab. Also, during the polishing of slab, densifier is used for the refinement process. These concrete densifiers act as a pore filler and enhance the surface density of the slab. Manufacturers are adopting innovative techniques to acquire significant market share. For instance, W.R. Meadows has developed Induroshine which is a green concrete grinding & polishing densifier that is used to polish the concrete flooring systems. This densifier is VOC compliant and has high durability. The Induroshine densifier can be used where dense, wear resistant, and pleasing flooring is required. Some of the applications of this densifier includes flooring of retail complexes, hospitals, schools, airports, museums, stadiums, warehouses, and others. Such varied applications of polished concrete market are predicted to drive the growth densifier in the review period. 

The sealer & crack filler polished concrete type is anticipated to have the fastest market growth, and it is predicted that the market shall generate a revenue of $999.9 million by 2027, growing from $601.8 million in 2019. The sealer & crack filler adds substantial value to the polished concrete by increasing the durability of the floors. Sealer & crack filler can be used in the applications where the temperature changes frequently. Thus, sealer & crack filler polished concrete can be used outside homes, at industrial and commercial places. This factor may have significant impact on the market growth during the projected period.  

Global Polished Concrete Market, by Method

On the basis of method, the market has been sub-segmented into dry and wet method. Among the mentioned sub-segments, the dry sub-segment is predicted to show the fastest growth, whereas the wet sub-segment is projected to garner a significant market share.

Global Polished Concrete Market, by Method

Source: Research Dive Analysis

The dry sub-segment of the global polished concrete market is projected to have the fastest growth and it is projected to surpass $1,614.6 million by 2027, with an increase from $1,050.2 million in 2019. This growth in the market can be attributed to higher shine, more hardening & condensing of floor, and it is efficient for both open areas and small areas. All these factors are estimated to increase the demand for dry polished concrete and further surge the market growth.

The wet sub-segment is anticipated to have a significant market share in the global market and register a revenue of $1,305.0 million during the analysis timeframe. The wet polished concrete has shorter downtime, can use environment-friendly propane-fueled machines, and is 100% dust-free process. All these aspects may generate huge opportunities for the wet sub-segment throughout the forecast period. 

Global Polished Concrete Market, by Construction Type:

Based on construction type the analysis has been divided into new construction and renovation. Out of these, the new construction sub-segment is predicted to have the fastest growth and renovation sub-segment is anticipated to garner the maximum revenue share in the global market.

Global Polished Concrete Market, by Construction Type

Source: Research Dive Analysis

The new construction sub-segment of the global polished concrete is anticipated to have rapid growth and surpass $1,506.5 million by 2027, with an increase from $982.4 million in 2019 owing to high demand for new construction projects such as office spaces, warehouses, residential houses, and others. For instance, in the U.S., which is well known for its booming infrastructure and construction projects, has invested $20,000 million for the construction of Hudson Yards in New York. This is one of the biggest real estate development projects in the Chelsea and Hudson Yards. Several such new construction projects are expected to flourish the global market in upcoming years.

The renovation sub-segment is predicted to have a dominating market share in the global market and is expected to register a revenue of $1,413.1 million during the analysis timeframe owing to growing renovation projects to enhance the aesthetic look of the floor in a cost-effective manner. For instance, as stated in Build Up, a European portal for energy efficiency in buildings, on October 4, 2019, 35% of buildings in Europe are over 50 years old and almost 75% of the buildings are energy inefficient. Hence, the renovation of existing buildings is must for energy saving and to reduce CO2 emissions. Such aspects may create huge opportunities for the renovation sub-segment throughout the forecast period.

Global Polished Concrete Market, by End Use:

Based on end use the analysis has been divided into residential and non-residential. Out of these, the non-residential sub-segment is predicted to have the fastest growth and residential sub-segment is predicted to garner a significant revenue share in the global market.

Global Polished Concrete Market, by End Use

Source: Research Dive Analysis

The residential sub-segment of the global polished concrete market is anticipated to have a significant growth and surpass $1,377.7 million by 2027, with an increase from $809.9 million in 2019 owing to the population growth that is increasing the demand for residential houses. Also, rapid urbanization is another growth factor as people migrating to urban areas are growing. For instance, the Indian government is providing support for housing sector by allocating funds under national 2021 budget for residential construction. Such measures are expected to drive the growth of residential sub-segment during the analysis timeframe.

The non-residential sub-segment is predicted to reach the highest market share in the global market and is expected to register a revenue of $1,541.9 million during the analysis timeframe owing to high demand for polished concrete from hospitals, restaurants, commercial complex, and other places. For instance, polished concrete has excellent shine, glossy look, high performance, and endures longevity. These benefits are estimated to drive the growth of the non-residential polished concrete sub-segment during the forecast period.

Global Polished Concrete Market, Regional Insights:

The polished concrete market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Polished Concrete Market, Regional Insights

Source: Research Dive Analysis

The Market for Polished Concrete in North America to be the Most Dominant

The North America Polished Concrete market accounted $809.0 million in 2019 and is projected to register a revenue of $1,292.1 million by 2027. The rapid advancements in e-commerce industry have increased the demand for construction of new warehouses and logistics hubs in the North America. For instance, The Atlanta Business Chronicles developers in metro Atlanta area has built 18 million square feet of warehouse space to attract leading e-commerce companies like Amazon and Home Depot. All these factors will ultimately drive the demand in the polished concrete market across North America.  

The Market for Polished Concrete in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific polished concrete market is anticipated to grow at a CAGR of 7.1% by registering a revenue of $893.2 million by 2027. The growth shall be a result of increasing residential construction, industrialization, urbanization in the Asia-Pacific region. For instance, during the pandemic, the China State Construction Engineering Corporate (CSCEC) had constructed 2 hospitals in Wuhan within a span of 10-12 days. This is one of the largest construction companies in China. Such rapid construction activities and developments will increase the market growth, which will eventually boost the Asia-Pacific polished concrete market in the upcoming years.

Competitive Scenario in the Global Polished Concrete Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Polished Concrete Market

Source: Research Dive Analysis

Some of the leading polished concrete market players are Pittsburgh Plate Glass Industries, Inc., 3M, 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.

Porter’s Five Forces Analysis for the Global Polished Concrete Market:

  • Bargaining Power of Suppliers: The suppliers in the polished concrete market are high in number. Several companies are working on product designs and innovations that use different raw materials to avoid changing the supplier if the there is a hike in the price of a particular material.
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: Buyers have huge bargaining power; they demand best polished concrete products at low prices. This increases the pressure on the polished concrete suppliers to offer the best services in a cost-effective way. Thus, buyers can freely choose the convenient service that best fits their preference. 
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: The companies entering polished concrete market are adopting product launch and innovations to attract clients. Companies entering the polished concrete testing market are adopting technological innovations such as developing an innovative software application to attract clients. Also, these companies are implementing various effective strategies such as offering discounts and value propositions. 
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: There is no alternative product for polished concrete solutions. 
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is moderate. The existing players are focusing more on product advancements and acquisitions to enhance their market presence.   
    Therefore, competitive rivalry in the market is moderate.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2019

  Forecast Timeline for Market Projection

  2020-2027

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Densifier
  • Sealer & Crack Filler
  • Conditioner

  Segmentation by Method

  • Dry
  • Wet

  Segmentation by Construction Type

  • New Construction
  • Renovation

  Segmentation by End Use

  • Residential
  • Non-residential

  Key Companies Profiled

  • Pittsburgh Plate Glass Industries, Inc.
  • 3M
  • BASF SE
  • Sika AG
  • Ultra Tech Cement Limited
  • The Sherwin Williams Company
  • Boral Limited
  • Solomon Colors Inc.
  • Vexcon Chemicals Inc.
  • The Euclid Chemical Company

Frequently Asked Questions
 

A. The size of the global Polished Concrete market was over $1,832.9 million in 2019 and is projected to reach $2,920.0 million by 2027.

A. 3M and Sika AG are some of the key players in the global polished concrete market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia Pacific polished concrete market is anticipated to grow at 7.1% CAGR during the forecast period.

A. Product launch, advancements and acquisitions are the key strategies opted by the operating companies in this market.

A. Sika AG and Pittsburgh Plate Glass Industries, Inc are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.By type trends
2.3.By method trends
2.4.By construction type trends
2.5.By end use trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview

3.8.1.by type
3.8.2.by method 
3.8.3.by construction type 
3.8.4.by end use 

3.9.Market value chain analysis

3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4.Distribution channel analysis
3.9.5.Operating vendors

3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors

3.10.Strategic overview

4.Polished concrete Market, by type

4.1.Densifier Polished concrete

4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027

4.2.Sealer and Crack Filler Polished concrete

4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027

4.3.Conditioner Polished concrete

4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019 & 2027

5.Polished concrete Market, by method

5.1.Dry

5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027

5.2.Wet

5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027

6.Polished concrete Market, by construction type

6.1.New Construction

6.1.1.Market size and forecast, by region, 2019-2027
6.1.2.Comparative market share analysis, 2019 & 2027

6.2.Renovation

6.2.1.Market size and forecast, by region, 2019-2027
6.2.2.Comparative market share analysis, 2019 & 2027

7.Polished concrete Market, by end use

7.1.Residential

7.1.1.Market size and forecast, by region, 2019-2027
7.1.2.Comparative market share analysis, 2019 & 2027

7.2.Non-Residential

7.2.1.Market size and forecast, by region, 2019-2027
7.2.2.Comparative market share analysis, 2019 & 2027

8.Polished concrete Market, by Region

8.1.North America

8.1.1.Market size and forecast, by type, 2019-2027
8.1.2.Market size and forecast, by method, 2019-2027
8.1.3.Market size and forecast, by construction type, 2019-2027
8.1.4.Market size and forecast, by end use, 2019-2027
8.1.5.Market size and forecast, by country, 2019-2027
8.1.6.Comparative market share analysis, 2019 & 2027

8.1.7.U.S.

8.1.7.1.Market size and forecast, by type, 2019-2027
8.1.7.2.Market size and forecast, by method, 2019-2027
8.1.7.3.Market size and forecast, by construction type, 2019-2027
8.1.7.4.Market size and forecast, by end use, 2019-2027
8.1.7.5.Comparative market share analysis, 2019 & 2027

8.1.8.Canada

8.1.8.1.Market size and forecast, by type, 2019-2027
8.1.8.2.Market size and forecast, by method, 2019-2027
8.1.8.3.Market size and forecast, by construction type, 2019-2027
8.1.8.4.Market size and forecast, by end use, 2019-2027
8.1.8.5.Comparative market share analysis, 2019 & 2027

8.1.9.Mexico

8.1.9.1.Market size and forecast, by type, 2019-2027
8.1.9.2.Market size and forecast, by method, 2019-2027
8.1.9.3.Market size and forecast, by construction type, 2019-2027
8.1.9.4.Market size and forecast, by end use, 2019-2027
8.1.9.5.Comparative market share analysis, 2019 & 2027

8.2.Europe

8.2.1.Market size and forecast, by type, 2019-2027
8.2.2.Market size and forecast, by method, 2019-2027
8.2.3.Market size and forecast, by construction type, 2019-2027
8.2.4.Market size and forecast, by end use, 2019-2027
8.2.5.Market size and forecast, by country, 2019-2027
8.2.6.Comparative market share analysis, 2019 & 2027

8.2.7.Germany 

8.2.7.1.Market size and forecast, by type, 2019-2027
8.2.7.2.Market size and forecast, by method, 2019-2027
8.2.7.3.Market size and forecast, by construction type, 2019-2027
8.2.7.4.Market size and forecast, by end use, 2019-2027
8.2.7.5.Comparative market share analysis, 2019 & 2027

8.2.8.UK

8.2.8.1.Market size and forecast, by type, 2019-2027
8.2.8.2.Market size and forecast, by method, 2019-2027
8.2.8.3.Market size and forecast, by construction type, 2019-2027
8.2.8.4.Market size and forecast, by end use, 2019-2027
8.2.8.5.Comparative market share analysis, 2019 & 2027

8.2.9.France

8.2.9.1.Market size and forecast, by type, 2019-2027
8.2.9.2.Market size and forecast, by method, 2019-2027
8.2.9.3.Market size and forecast, by construction type, 2019-2027
8.2.9.4.Market size and forecast, by end use, 2019-2027
8.2.9.5.Comparative market share analysis, 2019 & 2027

8.2.10.Spain

8.2.10.1.Market size and forecast, by type, 2019-2027
8.2.10.2.Market size and forecast, by method, 2019-2027
8.2.10.3.Market size and forecast, by construction type, 2019-2027
8.2.10.4.Market size and forecast, by end use, 2019-2027
8.2.10.5.Comparative market share analysis, 2019 & 2027

8.2.11.Italy 

8.2.11.1.Market size and forecast, by type, 2019-2027
8.2.11.2.Market size and forecast, by method, 2019-2027
8.2.11.3.Market size and forecast, by construction type, 2019-2027
8.2.11.4.Market size and forecast, by end use, 2019-2027
8.2.11.5.Comparative market share analysis, 2019 & 2027

8.2.12.Rest of Europe

8.2.12.1.Market size and forecast, by type, 2019-2027
8.2.12.2.Market size and forecast, by method, 2019-2027
8.2.12.3.Market size and forecast, by construction type, 2019-2027
8.2.12.4.Market size and forecast, by end use, 2019-2027
8.2.12.5.Comparative market share analysis, 2019 & 2027

8.3.Asia-Pacific

8.3.1.Market size and forecast, by type, 2019-2027
8.3.2.Market size and forecast, by method, 2019-2027
8.3.3.Market size and forecast, by construction type, 2019-2027
8.3.4.Market size and forecast, by end use, 2019-2027
8.3.5.Market size and forecast, by country, 2019-2027
8.3.6.Comparative market share analysis, 2019 & 2027

8.3.7.China

8.3.7.1.Market size and forecast, by type, 2019-2027
8.3.7.2.Market size and forecast, by method, 2019-2027
8.3.7.3.Market size and forecast, by construction type, 2019-2027
8.3.7.4.Market size and forecast, by end use, 2019-2027
8.3.7.5.Comparative market share analysis, 2019 & 2027

8.3.8.Japan 

8.3.8.1.Market size and forecast, by type, 2019-2027
8.3.8.2.Market size and forecast, by method, 2019-2027
8.3.8.3.Market size and forecast, by construction type, 2019-2027
8.3.8.4.Market size and forecast, by end use, 2019-2027
8.3.8.5.Comparative market share analysis, 2019 & 2027

8.3.9.India 

8.3.9.1.Market size and forecast, by type, 2019-2027
8.3.9.2.Market size and forecast, by method, 2019-2027
8.3.9.3.Market size and forecast, by construction type, 2019-2027
8.3.9.4.Market size and forecast, by end use, 2019-2027
8.3.9.5.Comparative market share analysis, 2019 & 2027

8.3.10.Australia 

8.3.10.1.Market size and forecast, by type, 2019-2027
8.3.10.2.Market size and forecast, by method, 2019-2027
8.3.10.3.Market size and forecast, by construction type, 2019-2027
8.3.10.4.Market size and forecast, by end use, 2019-2027
8.3.10.5.Comparative market share analysis, 2019 & 2027

8.3.11.South Korea 

8.3.11.1.Market size and forecast, by type, 2019-2027
8.3.11.2.Market size and forecast, by method, 2019-2027
8.3.11.3.Market size and forecast, by construction type, 2019-2027
8.3.11.4.Market size and forecast, by end use, 2019-2027
8.3.11.5.Comparative market share analysis, 2019 & 2027

8.3.12.Rest of Asia Pacific

8.3.12.1.Market size and forecast, by type, 2019-2027
8.3.12.2.Market size and forecast, by method, 2019-2027
8.3.12.3.Market size and forecast, by construction type, 2019-2027
8.3.12.4.Market size and forecast, by end use, 2019-2027
8.3.12.5.Comparative market share analysis, 2019 & 2027

8.4.LAMEA

8.4.1.Market size and forecast, by type, 2019-2027
8.4.2.Market size and forecast, by method, 2019-2027
8.4.3.Market size and forecast, by construction type, 2019-2027
8.4.4.Market size and forecast, by end use, 2019-2027
8.4.5.Market size and forecast, by country, 2019-2027
8.4.6.Comparative market share analysis, 2019 & 2027

8.4.7.Latin America  

8.4.7.1.Market size and forecast, by type, 2019-2027
8.4.7.2.Market size and forecast, by method, 2019-2027
8.4.7.3.Market size and forecast, by construction type, 2019-2027
8.4.7.4.Market size and forecast, by end use, 2019-2027
8.4.7.5.Comparative market share analysis, 2019 & 2027

8.4.8.Middle East 

8.4.8.1.Market size and forecast, by type, 2019-2027
8.4.8.2.Market size and forecast, by method, 2019-2027
8.4.8.3.Market size and forecast, by construction type, 2019-2027
8.4.8.4.Market size and forecast, by end use, 2019-2027
8.4.8.5.Comparative market share analysis, 2019 & 2027

8.4.9.Africa

8.4.9.1.Market size and forecast, by type, 2019-2027
8.4.9.2.Market size and forecast, by method, 2019-2027
8.4.9.3.Market size and forecast, by construction type, 2019-2027
8.4.9.4.Market size and forecast, by end use, 2019-2027
8.4.9.5.Comparative market share analysis, 2019 & 2027

9.Company profiles

9.1.Pittsburgh Plate Glass Industries, Inc.
9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis

9.2.3M

9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis

9.3.BASF SE

9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis

9.4.Sika AG

9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis
9.5.Ultra Tech Cement Limited 

9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis

9.6.The Sherwin Williams Company

9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis

9.7.Boral Limited

9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis

9.8.Solomon Colors Inc.

9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis

9.9.Vexcon Chemicals, Inc.

9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis

9.10.The Euclid Chemical Company

9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis

Concrete is one of the primary foundations utilized in the making of any structure. Using chemical treatments on the flooring and adding bonded adhesives to it refines the product, making it shiny. This end product is known as polished concrete and is used in the flooring of many projects such as apartment structures and offices. 

This glossy finish adds to the enhanced look of any building’s interiors also adding to the value of the entire building.

COVID-19 Impact on the Polished Concrete Market

Many industries, markets, and organizations found themselves facing immense losses and drawbacks due to the COVID-19 pandemic. When entire countries went into lockdown, a lot of people lost their work opportunities and had to resort to return to their hometown. Builders postponed their projects until situations improved. One such example was when workers from all over India, especially those belonging to the construction sector left the cities to return to their towns or villages. Apart from people, the supply of raw material was also hit severely due to lack of or no transport options. Due to this, the polished concrete sector was negatively impacted.    

Over time, many organizations decided to take a step ahead in helping the market regain its position. They came up with a solution taking the current pandemic into consideration. The flooring in many houses is porous and may harbour a host of bacteria, and viruses including COVID-19. Many contractors hence suggested that using semi porous sheet flooring like polished concrete can help keeping these harmful elements away. These innovations are one of the most important factors in creating more opportunities in the market.

Key Developments in the Industry

Various industries are putting in immense efforts to build up their presence in the market while also using research which is a part of the efforts.  The innovative methodologies by organizations of creating more effective products are also used, keeping in mind satisfaction of customers or companies in terms of quality. Many of them look towards availing the services for their homes or offices and providing top notch quality is one of the top priorities of the market players. The products need to be the best in quality and maintain the same throughout. One such organization was Boral Australia, a world-renowned manufacturer of construction material. In May 2020, they came up with a product that uses recycled material such as plastics, tyres, and asphalt pavement known as Innovo. This has so far been used as an asphalt system across the length and breadth of Australia including Queensland, Victoria, New South Wales and more.  With brands getting more aware about the environment, this move is predicted to help other organizations also take note of the same and help the market move towards being more eco-friendly.

It is also known, that partnerships help strengthen two distinct companies. One such initiative has been taken up by PrimX a brand known for their innovative methods of alternative flooring. In October 2020, the Company partnered with Utah-based pioneer in Ashford formula – a hardener used in concrete. The utilization of this hardenerwill help in the making of seamless slabs within industrial facilities.  This will help in enhancing the variety of products available in the market.

Forecast Analysis of the Global Polished Concrete Market

The latest report by Research Dive states that the global polished concrete market is predicted garner revenue of over $2,920.0 million at a stable CAGR of 6.1% from 2020-2027. The North American region is known to be the largest contributor to the revenue of the global polished concrete market. The rising construction opportunities have added to the requirement of spaces that are easy to maintain and are fitted with flooring that’s durable even in the long run. This applies for both residential as well as commercial properties.  Many brands prefer to have durable yet attractive flooring which is made possible by using polished concrete. Further, upon renovation and reconstruction, people tend to lean towards interiors that are aesthetically pleasing, which is where smooth polished concrete plays an important role. This demand has hence added to the increased growth of the global polished concrete market.

On the contrary, the process of producing this type of concrete tends to release carbon dioxide which is especially found in cement, a key ingredient of concrete. This is harmful for the environment and maybe one of the most evident restraining factors for the industry. 

But, with the rising population and even faster process of urbanization has led to an increasing demand for residential places that are affordable. People also know that by opting for flooring with polished concrete, it has plenty of advantages. It provides reflectivity, doesn’t stain easily but in case it does, it’s easy to clean, and is also slip resistant. To top it all, its economical pricing is one of the main factors making it a lucrative market for the prominent players of the market.

Many key players such Ultra Tech Cement Limited, The Euclid Chemical Company, Sika AG, The Sherwin Williams Company, Solomon Colors Inc, 3M, and Vexcon Chemicals Inc, are initiating mergers, product launches, and partnerships for the benefit of the market. 

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