Rising Demand for Renovation and Remodeling Drives Growth in the Polished Concrete Market

The Business Research Company’s Polished Concrete Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 6, 2023 /EINPresswire.com/ — The global polished concrete market, valued at $2.37 billion in 2022, is anticipated to reach $2.56 billion in 2023, with a notable compound annual growth rate (CAGR) of 7.9%. Despite the disruptions caused by the Russia-Ukraine conflict, leading to economic sanctions, commodity price surges, and supply chain interruptions, the market is projected to expand to $3.48 billion by 2027, maintaining a steady CAGR of 8.0%.

Polished concrete market segmentation and key players
•Product Type: Densifiers & Hardeners, Sealers & Crack Fillers, Conditioners
•Method: Dry, Wet
•Construction Type: New Construction, Renovation
•End-Use Industry: Residential, Non-Residential

Major players in the polished concrete market, such as PPG Industries Inc., BASF SE, 3M Company, The Sherwin-Williams Company, Boral Limited, SIKA AG, Ultratech Cement Limited, Solomon Colors Inc., The Euclid Chemical Company, Vexcon Chemicals Inc., Pasadena Concreteworks Inc., Fairfax Concrete LLC, CHARLOTTES CONCRETE, DMF Concrete, Polished Concrete Systems Inc., Laurel, Germantown, HARLOTTES CONCRETE, MPM, and BGSB, are actively contributing to the market’s growth.

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Key Market Drivers and Trends
The market’s growth is primarily propelled by the escalating demand for renovation and remodeling projects globally. With a specific focus on non-residential buildings, such as hotels and other commercial spaces, the use of polished concrete is gaining traction due to its durability, low maintenance, and aesthetic appeal. As observed in the US, the upward trend in home improvement and repair spending, reaching $420 billion in 2020, further accentuates the market’s growth trajectory.

Strategic Partnerships Driving Market Expansion
A key trend observed in the polished concrete market is the increasing prevalence of strategic partnerships among major industry players. These partnerships aim to capitalize on mutual resources, develop innovative products, and expand into new markets. For instance, the partnership between Blue Point Capital Partners’ BPCP III concrete industry platform, SASE Company, and Bartell Global aims to design new products and expand their market presence. Similarly, the partnership between PrimX and Curecrete Distribution, Inc. focuses on the development of jointless and resilient industrial floors, utilizing PrimX’s expertise in concrete industrial flooring and Curecrete Distribution’s Ashford Formula, a concrete densification liquid.

Regional Analysis and Market Dynamics
In 2022, North America emerged as the largest region in the polished concrete market, with Asia-Pacific projected to witness the fastest growth in the forecast period. The comprehensive market analysis encompasses key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

For an in-depth understanding of the polished concrete market, refer to our comprehensive market report:

Polished Concrete Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Polished Concrete Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on polished concrete market size, polished concrete market drivers and trends, polished concrete market major players, polished concrete market competitors’ revenues, polished concrete market positioning, and polished concrete market growth across geographies. The polished concrete market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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