Polished Concrete Market Trends and Future Outlook 2024

"The Business Research Company recently released a comprehensive report on the Global Polished Concrete Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The polished concrete market size has grown strongly in recent years. It will grow from $2.49 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to pioneering applications, cost-effectiveness, refurbishment and renovation, industrial development influence, commercial and industrial adoption.

The polished concrete market size is expected to see strong growth in the next few years. It will grow to $3.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to resurgence in renovation projects, market expansion in emerging economies, health and hygiene concerns, innovations in design and customization, urbanization and infrastructure development. Major trends in the forecast period include sustainable building practices, architectural aesthetics, durability and longevity, residential adoption, commercial and retail spaces.

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Market Drivers and Trends:

The rising demand for renovation and remodeling is the key driver propelling the growth of polished concrete market. The expanding demand for polished concrete, especially for constructing hotel flooring and other non-residential buildings, is also the main factors responsible for the growth of the polished concrete market. The factors such as durable, low maintenance and easy to clean and advancement in technologies, and also the applications in the usage of glossy and attractive flooring are driving the use of polished concrete non-residential construction. For instance, in March 2021, according to the Joint Center for Housing Studies, a US-based research center, US expenditure on home improvements and repairs experienced a growth of over 3%, reaching nearly $420 billion. Therefore, rising demand for renovation and remodeling will drive the growth of polished concrete market.

Strategic partnership is a key trend in the polished concrete market. Major players are entering into partnership to leverage each other's resources and expand the market. For example, in May 2022, Blue Point Capital Partners, a US-based private equity firm and its BPCP III concrete industry platform, SASE Company, partnered with Bartell Global. The partnership aims at designing new products and expanding into new regions. Bartell Global is a US-based manufacturer of construction and surface preparation equipment, including polished concrete.

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Major Key Players of the Market:

BASF SE, Minnesota Mining and Manufacturing Company, The Sherwin-Williams Company, PPG Industries Inc., CHARLOTTES CONCRETE, SIKA AG, Ultratech Cement Limited, Boral Limited, 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, Mineral Pulverising Mills, HTC Sweden AB, Superabrasive

Polished Concrete Market 2024 Key Insights:

• The polished concrete market size is expected to see strong growth in the next few years. It will grow to $3.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Surge In Renovation And Remodeling Drives Growth Of Polished Concrete Market
• Strategic Partnerships Drive Innovation And Expansion In The Polished Concrete Market
• North America was the largest region in the polished concrete market in 2023

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