Global Polished Concrete Market Expected to Grow Substantially Owing to Growing Construction Activities Across the World [260-Pages] | Commended by Research Dive

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25 Apr, 2023, 10:30 GMT

The global polished concrete market is expected to grow primarily due to increasing construction activities across the globe. Non-residential sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031

NEW YORK, April 25, 2023 /PRNewswire/ -- Global Polished Concrete Market Forecast Analysis:

As per the report published by Research Dive, the global polished concrete market is expected to register a revenue of $3,683.4 million by 2031 at a CAGR of 5.3% during the forecast period 2022-2031.

Segments of the Polished Concrete Market

The report has divided the market into the following segments:

  • Product: densifiers, sealers & crack fillers, and conditioners
    • Densifier– Most dominant in 2021
      The growing demand for densifiers due to enhanced surface durability offered by them is expected to push the growth of this sub-segment further.
  • Method: dry and wet
    • Dry – Highest market share in 2021
      The growing popularity of the dry conditioner method due to its ability to provide more shine and finish is expected to augment the growth rate of the market in the 2022-2031 timeframe.
  • Construction Type: new construction and renovation
    • New Construction– Most profitable in 2021
      The rapid urbanization and growing investment in development of smart cities is expected to propel the sub-segment forward.
  • End-use: residential and non-residential
    • Non-Residential – Most lucrative in 2021
      The growing pace of construction of hospitals, commercial complexes, hotels, and industrial buildings is anticipated to push the market forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • North America – Significant market share in 2021
      The rapidly increasing construction of new warehouses and logistics hubs due to growing e-commerce businesses is predicted to propel the market in the forecast period.

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Dynamics of the Global Polished Concrete Market

The increasing pace of construction activities across the world is expected to make the polished concrete market a highly profitable one in the forecast period. Additionally, increase in population and demand for private homes is predicted to propel the market forward. However, according to market analysts, negative environmental impact of polished concrete might become a restraint in the growth of the market.

Increasing pace of urbanization is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, increase in residential, commercial, and industrial construction activities is expected to propel the polished concrete market forward in the coming period.

COVID-19 Impact on the Global Polished Concrete Market

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The polished concrete market, too, was negatively impacted due to the pandemic. The lockdowns and travel restrictions affected the construction businesses the most which reduced the demand for polished concrete. This reduced demand ultimately brought down the growth rate of the market.  

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Key Players of the Global Polished Concrete Market

The major players of the market include

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

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.

For instance, in May 2021, Sika, a Swiss chemical company, announced the merger of two of its subsidiaries, Sika Butterfield Color and Sika Scofield. The newly merged line of companies aims to offer a complete range of decorative concrete products in order to cater to the demands of the construction industry in a much better way.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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