Press release
Terrazzo Flooring Market by Type, Application, Outlook-2025 | Global Industry Insights, Key Segments, Top Leading Players
Terrazzo Flooring Market Overview :Flooring refers to the permanent covering of floors that manage landscape attributes for visual appeal, pedestrian movement, and provide support to other infrastructural elements. Terrazzo comprises recycled aggregates such as recycled glass pieces, marble chips, and others coupled with the binding matrix such as epoxy resin or cement. The global terrazzo flooring market was valued at $21,691.1 million in 2017 and is projected to reach $31,951.2 million in 2025, growing at a CAGR of 4.9%.
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An increase in construction, renovation, and retrofitting activities is the key factor that drives the growth of the global terrazzo flooring market. In addition, increased emphasis on the use of green and eco-friendly floorings, such as terrazzo, is expected to propel the global market growth.
Moreover, key market players have adopted various strategies, such as business expansion and acquisition, to strengthen their market presence, which boosts the growth of the market. For instance, in 2017, RPM International acquired Key Resin Co., a manufacturer of polymer flooring and coating systems, which positively contributed to the growth of the terrazzo flooring industry. However, the high initial cost & installation cost of terrazzo flooring is expected to hinder the growth of the market.
The global terrazzo flooring market is segmented based on type, application, and region. On the basis of type, the market is fragmented into epoxy terrazzo and cement-based terrazzo. The epoxy terrazzo segment is anticipated to dominate the global market throughout the study period. The applications covered in the market include educational institutions, commercial buildings, government buildings, transport infrastructure, and others. The educational institution's segment is projected to dominate the global market in the near future.
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By type, the market is bifurcated into epoxy terrazzo and cement-based terrazzo. Among these, the epoxy terrazzo segment is expected to grow at a significant growth rate during the forecast period, owing to its low maintenance and abrasion-resistant nature. In addition, its prolonged shelf life and eco-friendly nature make it a preferred choice for sustainable designs of flooring.
Geographic Review
The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these, North America held a significant share in the global market in 2017, however, Asia-Pacific is projected to register the highest CAGR during the forecast period.
Key Players
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.
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