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”
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.
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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