Polished Concrete Market Analysis and Global Forecast 2021-2034

Polished Concrete Market Overview

The Polished Concrete Market size accounted for USD 3.41 Billion in 2023 and is estimated to account for 4.78 Billion in 2024. The Market is expected to reach USD 6.88 Billion by 2034 growing at a compound annual growth rate (CAGR) of 5.67% from 2024 to 2034. The polished concrete market involves the use of advanced techniques to achieve a smooth, glossy finish on concrete surfaces. This market includes products and services related to concrete polishing, such as equipment, chemicals, and finishing services. Key drivers include increasing demand for durable and low-maintenance flooring solutions in commercial, industrial, and residential spaces. The market is influenced by trends towards sustainable building practices and aesthetic preferences for modern, sleek interiors. Growth factors include the rise in construction activities, renovations, and upgrades of existing buildings. The market is segmented by type (e.g., grinding machines, densifiers) and application (e.g., retail spaces, warehouses, residential buildings).

Global Polished Concrete Market Synopsis

Global Polished Concrete Market Dynamics

The major factors that have impacted the growth of Polished Concrete are as follows:

Drivers:

⮚     Durability and Low Maintenance

Polished concrete is known for its exceptional durability and resistance to wear and tear. Unlike traditional flooring options, polished concrete surfaces can withstand heavy foot traffic, impact, and abrasion. This durability translates to lower maintenance costs, making it an attractive option for commercial and industrial facilities where maintenance downtime and costs are a concern..

Restraint:

• Cracking and Moisture Issues

If the underlying concrete slab has issues such as cracks or moisture problems, these can affect the appearance and performance of the polished concrete surface. Proper assessment and remediation of the slab are necessary to ensure the longevity and effectiveness of the polished finish. Addressing these issues can add to the overall cost and complexity of the project.

Opportunity:

⮚     Technological Advancements

Innovations in polishing technology and materials present opportunities for enhancing the performance and aesthetics of polished concrete. Advances in grinding equipment, diamond tooling, and sealing products have improved the efficiency and quality of installation. Additionally, the development of new techniques and formulations can expand the range of finishes and applications, making polished concrete more versatile and attractive to a broader audience.

Polished Concrete Market Segment Overview

By Basis of type

Based on the Basis of type, the market is segmented based on Densifier, Sealer & Crack Filler, Conditioner. the densifier segment dominates as it is crucial for strengthening and enhancing the hardness of the concrete surface, which is essential for achieving a durable and high-quality finish.

By Basis of method

Based on Basis of method, the market has been divided into Dry, Wet. the wet method dominates due to its ability to achieve a higher quality finish and more refined surface by using water during the grinding and polishing process.

By Construction type

Based on the Construction type, the market has been divided into New Construction, Renovation. the new construction segment dominates as it often integrates polished concrete into the initial design and building phases, leveraging its benefits from the outset.

By End Use

Based on End Use, the market has been divided into Residential, Non-residential. the non-residential segment dominates due to its widespread use in commercial, industrial, and institutional buildings, where durability and low maintenance are highly valued.

Global Polished Concrete Market Regional Analysis

Based on region, the market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The area of North America is anticipated to dominate the market for the usage of Polished Concrete, followed by those in Asia-Pacific and Europe.

Polished Concrete Asia Pacific Market

The Asia Pacific region holds a dominant position in the Polished Concrete market. In 2022, the polished concrete market in Asia Pacific held a 45.80% market share. The reasons for this expansion are Asia-Pacific’s increased industrialization, urbanization, and residential construction. During the epidemic, for example, the China State Construction Engineering Corporate (CSCEC) constructed two hospitals in Wuhan in ten or twelve days. This is one of the largest construction companies in China. It is anticipated that this rapid development and building will spur market expansion, which will ultimately improve the Asia-Pacific polished concrete market in the ensuing years.

Polished Concrete North America Market

The North America region is witnessing rapid growth and emerging as a significant market for the Polished Concrete industry. From 2023 to 2032, the polished concrete market in North America is anticipated to rise significantly. The polished concrete market in North America is expanding due to advancements in technology within the architecture and construction industry. Single-family homes are becoming more common in the US, especially in Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina.

Competitive Landscape

The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as PPG INDUSTRIES, INC., BASF SE, 3M COMPANY, THE SHERWIN-WILLIAMS COMPANY, and BORAL LIMITED are some of the leading players in the global Polished Concrete Industry. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.

Key Market Players:

• PPG INDUSTRIES, INC.
• BASF SE
• 3M COMPANY
• THE SHERWIN-WILLIAMS COMPANY
• BORAL LIMITED
• SIKA AG
• ULTRATECH CEMENT LIMITED
• SOLOMON COLORS INC
• THE EUCLID CHEMICAL COMPANY
• VEXCON CHEMICALS, INC.

Key Development:

November 2020: With the opening of a new production facility in Dubai, Sika increases its production capacity in the United Arab Emirates. Epoxy resins will also be produced locally for the Target Market Flooring in addition to concrete admixtures. Sika made an investment in the expansion of its manufacturing facilities at the Dubai location in order to improve production flexibility, accelerate delivery times, reduce inventory, and optimise cost structures.

Scope of the Report

Global Polished Concrete Market, by Basis of type

• Densifier
• Sealer & Crack Filler
• Conditioner

Global Polished Concrete Market, by Basis of method

• Dry
• Wet

Global Polished Concrete Market, by Construction type

• New Construction
• Renovation

Global Polished Concrete Market, by End Use

• Residential
• Non-residential

Global Polished Concrete Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

Parameters	Indicators
Market Size	2034: USD 6.88 Billion
CAGR (2021-2034)	5.67%
Base year	2023
Forecast Period	2021-2034
Historical Data	2021 (2017 to 2020 On Demand)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Basis of type, Basis of method, Construction type, End Use
Geographies Covered	North America, Europe, Asia-Pacific, South America, Middle East, Africa.
Key Vendors	PPG INDUSTRIES, INC., BASF SE, 3M COMPANY, THE SHERWIN-WILLIAMS COMPANY, BORAL LIMITED,  SIKA AG, ULTRATECH CEMENT LIMITED, SOLOMON COLORS INC, THE EUCLID CHEMICAL COMPANY, VEXCON CHEMICALS, INC.
Key Market Opportunities	Rise in renovation and remodeling activities globally
Key Market Drivers	Growth in construction of new residential & commercial spaces, and increase in the demand for durable, attractive, and low maintenance flooring systems

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Polished Concrete market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Polished Concrete market historical market size for the year 2022, and forecast from 2021 to 2034
• Polished Concrete market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Polished Concrete market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.