What Is The Current and Historic Market Size Analysis Of Polished Concrete Market?
The polished concrete market has seen considerable growth due to a variety of factors.
• The market size for polished concrete has seen significant growth in the last few years. It is projected to expand from $2.62 billion in 2024 to $2.77 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%.
The growth during the historical period can be linked to innovative applications, cost efficiency, restoration and renovation activities, the impact of industrial development, and its adoption in commercial and industrial sectors.
What Are the Future Growth Projections for the Polished Concrete Market?
The polished concrete market is expected to maintain its strong growth trajectory in upcoming years.
• We predict a robust expansion in the polished concrete market in the upcoming years, with the market value projected to reach $3.63 billion by 2029, escalating at a compound annual growth rate (CAGR) of 7.0%.
This growth expected within the forecast period can be connected to a resurgence of renovation ventures, market proliferation in developing economies, concerns about health and hygiene, advances in design and personalization, urbanization, and infrastructural expansion. The forecast period also foresees major trends such as sustainable construction methods, architectural aesthetic preferences, durability and lifespan, residential usage, commercial, and retail spaces as key market drivers.
What Are the Critical Driver Fuelling the Polished Concrete Market's Growth?
The surge in remodeling and renovation needs is a major driver fuelling the expansion of the polished concrete market. The heightened demand for polished concrete, particularly in the creation of hotel floors and other non-residential properties, also plays a critical role in scaling up the polished concrete market. The appeal of polished concrete lies in its durability, low maintenance, ease of cleaning, technological advancements, and its use in creating glossy, attractive flooring, making it a favored choice in non-residential construction. To illustrate, Houzz Inc., a US-based company, indicated in May 2024 that spending on renovations significantly escalated over the previous three years, with the median expenditure growing by 13% to hit £17,000 in 2023. Consequently, the escalating demand for remodeling and renovations is anticipated to propel the polished concrete market's growth.
What Are The Major Segments Within The Polished Concrete Market?
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
Subsegments:
1) By Densifiers And Hardeners: Lithium Densifiers, Sodium Silicate Densifiers, Potassium Silicate Densifiers, Other Densifiers And Hardeners
2) By Sealers And Crack Fillers: Acrylic Sealers, Epoxy Sealers, Polyurethane Sealers, Crack Fillers
3) By Conditioners: Concrete Conditioners, Surface Conditioners, Stain Blockers, Other Conditioners
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Which Trends Are Expected To Transform The Polished Concrete Market?
The concept of forging strategic alliances is a pivotal trend in the polished concrete industry. Leading companies are engaging in partnerships to utilize each other's assets and extend the scope of the market. In a case scenario from May 2022, Blue Point Capital Partners - a private equity firm from the US - and its BPCP III concrete industry platform, SASE Company, entered into a collaboration with Bartell Global. The objective of this alliance is to innovate new product designs and penetrate new geographical areas. It's noteworthy to mention that Bartell Global is a US-based entity that manufactures construction and surface preparation equipment, which includes polished concrete.
Who Are the Key Players in the Polished Concrete Market?
Major companies operating in the polished concrete market include:
• BASF SE
• Minnesota Mining and Manufacturing Company
• The Sherwin-Williams Company
• PPG Industries Inc.
• CHARLOTTES CONCRETE
• SIKA AG
• 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
• HTC Sweden AB
• Superabrasive
What Is The Most Dominant Region In The Polished Concrete Market?
North America was the largest region in the polished concrete market in 2024. 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.
