Canada's Terrazzo Flooring Market: Trends, Growth, and Flooring Innovations

In a recent report by Allied Market Research titled, "Canada Terrazzo Flooring Market by Type and Application: Opportunity Analysis and Industry Forecast, 2018-2025," the terrazzo flooring market in Canada is on a promising trajectory. In 2017, it was valued at $65,500 thousand and is projected to reach $93,039 thousand in 2025, showing a commendable Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period.

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Epoxy terrazzo, known for its low maintenance costs and swift pour-to-grind installation time, played a significant role in the market, accounting for more than two-thirds of the market share in 2017. This segment is expected to continue witnessing substantial growth in the coming years.

Terrazzo flooring, a hard surface flooring type that combines an epoxy or cement matrix composite with aggregates like marble and glass, has gained popularity due to the surge in construction projects across Canada. These floorings not only enhance aesthetics but also create an illusion of spaciousness, making rooms more inviting. Moreover, terrazzo flooring, composed of marble, stone, or glass chips, offers endless customization possibilities, making it a visually appealing choice for various settings. Its durability, ease of maintenance, and ability to make spaces feel more open are expected to drive the Canada terrazzo flooring industry.

However, the market faces challenges such as high initial costs and the expensive nature of tile installation. Additionally, the presence of cost-effective substitute products like luxury vinyl tiles, ceramic tiles, wooden flooring, and marbles pose a threat. Installing terrazzo flooring requires skilled professionals, making it less suitable for do-it-yourself (DIY) projects, further impacting market growth.

The increasing demand for sustainable and durable flooring solutions, combined with the rise in interior designing and retrofitting activities in residential and commercial properties, has positively influenced the terrazzo flooring market. The growth is also driven by the expanding use of terrazzo in outdoor applications like pools, stairs, patios, and garages. However, competition from substitute products, including vinyl and wooden flooring, presents a challenge to the market's expansion.

In the realm of applications, educational institutions are expected to hold the largest market share in the Canada terrazzo flooring market during the forecast period. The growing number of educational institutes, universities, auditoriums, and schools in Canada has created a demand for durable, traffic-resistant flooring. Terrazzo floors, with their ability to withstand high foot traffic, have become a favored choice in educational settings. The versatility and innovative design possibilities of terrazzo have made it an attractive option for educational institutions.

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In terms of terrazzo types, epoxy terrazzo is anticipated to dominate the market and exhibit the highest CAGR. Epoxy terrazzo offers advantages such as low maintenance costs and easy tile installation compared to cement terrazzo. It employs an epoxy resin composite to bind aggregates like marble and glass pieces and stands out as a lightweight and thin-set flooring system, with an installation thickness of only 1⁄4" to 3/8" above the concrete slab.

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Key Findings of the Canada Terrazzo Flooring Market:

In 2017, the epoxy terrazzo segment led in revenue generation.

The educational sector was the top revenue contributor in 2017, highlighting the popularity of terrazzo in educational institutions.

Key players in the Canada terrazzo flooring market include Centura Tile, Domus Terrazzo Supply Co. ULC, Flesher Marble & Tile, Key Resin Company, Kingspan Group plc, Sika AG, Tarkett S.A, Terrazzo & Marble Supply Companies, The Sherwin-Williams Company, and Twin City Tile Co. Ltd.

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