Terrazzo Flooring Market with New Technology, Emerging Trends and Dynamics Forecast 2018-2025

Upsurge in residential and non-residential construction activities, rise in inclination toward sustainable flooring, andenhanced durability and improved aesthetics of terrazzo would boost the growth of the global terrazzo
flooringmarket.

Allied Market Research recently published a report, titled, “Terrazzo Flooring Market: Global Opportunity Analysis and Industry Forecast, 2018 – 2025”. The report states that the global terrazzo flooring market accounted $21.69 billion in 2017 and is estimated to reach $31.95 billion by 2025, registering a CAGR of 4.9% during the forecast period 2018-2025. More than two-thirds of the market share was accounted by the epoxy terrazzo segment in 2017, which is expected to maintain its dominance during the forecast period.

Rapid proliferation of residential and non-residential construction activities, increase in focus on sustainable flooring among consumers, and advantages of using these floorings such as durability and high-end aesthetics drive the growth of the market. However, high initial costs and threat from substitutes like wood, marble, and others would hamper the market growth. On the other hand, ability to customize and produce a variety of designs would create new pathways for the market players in future.

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Epoxy terrazzo segment to be lucrative by 2025

Epoxy terrazzo segment accounted for more than three-fourths of the total market share in 2017 and would maintain its lion's share during the forecast period, registering the highest CAGR of 5.1% from 2018 to 2025. This is attributed to its characteristics such as ease of installation, low maintenance, availability in varied colors, and growing utility in kitchens, bathrooms, and others. The report also analyzes cement-based terrazzo floorings.

Educational institution segment to dominate throughout the forecast period
Educational institution segment contributed more than one-third of the total market share in 2017, owing to significant rise in the number of educational institutes, auditoriums, universities, and schools in the U.S. as well as other developed countries. This segment will remain dominant throughout the forecast period. However, the transport infrastructure segment would grow at
the highest CAGR of 6.8% from 2018 to 2025, owing to the increasing need to install these floorings at railway stations, airports, and other public places.
The report discusses several applications such as commercial, government
buildings, and others.

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Asia-Pacific to register the highest growth rate by 2025

Substantial rise in demand for residential and commercial spaces have enabled the Asia-Pacific region to grow at the highest CAGR of 6.6% from 2018 to 2025. However, North America contributed more than one-third of the total market share in 2017, owing to the high demand for versatile surface material used in terrazzo flooring for enhanced visual effects and subtle texture, and would maintain this trend during the forecast period.
Frontrunners of the industry

The key market players analyzed in the research include 4m Group,
Diespeker & Co., Concord Terrazzo Company, Inc., KREZ Group, Kingspan Group, RBC Industries, Inc., Quiligotti Terrazzo Tiles Limited, Terrazzo Masters, RPM International Inc., and Venice Art Terrazzo Co., Inc. These players have adopted various strategies such as expansions, new product launches, mergers & acquisitions, joint ventures, collaborations, and others to strengthen their position in the industry.

Based on the application, the educational institutions segment is expected to
account for the largest share in the global market during the forecast period, due to increase in the number of educational institutes, universities, auditoriums, and schools in the U.S. and other developed countries. Depending on type, epoxy terrazzo is expected to hold maximum market share, growing at highest CAGR during the forecast period, owing to various benefits offered by it such as low maintenance costs and easy installation laying of tiles as compared to cement terrazzo.

Key Findings of the Terrazzo Flooring Market:
• Based on application, the educational institutions segment dominated the market in terms of revenue in 2017, and is projected to grow at a significant CAGR during the forecast period.
• North America generated the highest revenue in 2017, however, Asia-Pacific is anticipated to grow at the highest CAGR.
• The epoxy terrazzo segment generated the highest revenue in 2017, and is estimated to grow at the highest rate.
• In North America, the U.S. accounted for the largest market share in 2017.

The key players profiled in this report include 4m Group, Concord Terrazzo Company, Inc., Diespeker & Co., Kingspan Group, KREZ Group, Quiligotti Terrazzo Tiles Limited, RBC Industries, Inc., RPM International Inc., Terrazzo Masters, and Venice Art Terrazzo Co., Inc. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.

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