Global Polished Concrete Market Insights Forecasts to 2032

• The Global Polished Concrete Market Size was valued at USD 2.43 Billion in 2022.
• The market is growing at a CAGR of 6.8% from 2022 to 2032
• The Worldwide Polished Concrete Market Size is expected to reach USD 4.7 Billion by 2032
• North America is expected to grow the fastest during the forecast period

The Global Polished Concrete Market Size is expected to reach USD 4.7 Billion by 2032, at a CAGR of 6.8% during the forecast period 2022 to 2032.

Polished concrete, commonly known as screed concrete, is a decorative finish rather than a cladding. Polished concrete is made by manually honing, polishing, and grinding the floor of the concrete to smooth out its outermost layer with bonded abrasives. After that, it is tweaked for each cut until the desired level of appearance is achieved. A penetrant chemical called a hardener is also used in this operation. This product is primarily utilized in outdoor areas of parking lots, retail malls, and sports grounds, as well as in a few indoor spaces. Polished concrete is intended to be applied to surfaces where functioning is more essential than appearances. Furthermore, polished concrete floors are highly resistant to tire skidding. Because polished concrete floors are unlikely to break or crack, they are commonly utilized in transportation and unloading areas. This specific kind of concrete is commonly used in parking lots and garages. Some of the key drivers for the rise in popularity of polished concrete is the high demand for hotel flooring and other commercial construction. This is mostly owing to polished concrete's several advantages, which include an excellent aesthetic for floors as well as durability against slipping and deterioration from intensive pedestrian traffic. Furthermore, the increased visual appeal of a structure or facility is likely to increase demand for the polished concrete market.

Driving Factors

The polished concrete industry is predicted to rise significantly in the future because of higher demands in both residential and commercial buildings. The growing requirement for polished concrete, particularly for the construction of hotel flooring and other commercial structures, is a significant factor contributing to the rise in demand. This is mostly owing to the polished concrete's numerous benefits, such as its strong visual appeal to floors and resistance to sliding and damages caused by excessive foot traffic. Furthermore, construction and renovation projects in both the commercial and residential markets are expected to increase demand for seamless and visually appealing flooring at reasonable prices throughout the forecast period. The surge in building and remodeling projects can be ascribed to rising consumer preferences for increasing the visual appeal of their homes, cutting energy usage, and fixing their aged heating and cooling systems. Moreover, growth in the development of newly constructed residential and commercial spaces, as well as an increase in demand for long-lasting, appealing, and easy to maintain flooring solutions, are expected to drive the polished concrete market during the projected period.

Restraining Factors        

The unpredictable costs of crude oil and petroleum, on the other hand, may raise the overall price of petroleum-based products, raising the cost of cement, adhesives, and sealants that are utilized in polished concrete. As such, the cost of these materials has had an immediate effect on the cost of polished concrete. When the expenditure of raw materials rises, vendors raise the selling price of their goods or cut their margins of profitability, which has a negative impact on market growth. Furthermore, cement, a fundamental ingredient in building materials, has particular environmental and social consequences in addition to impacting those of concrete significantly. The cement industry is a major source of carbon dioxide, which is a strong greenhouse gas. This aspect may have a negative impact on the anticipated expansion of the global polished concrete market over the coming years.

Market Segmentation

By Type Insights

The densifier segment is dominating the market with the largest revenue share over the forecast period.

On the basis of type, the global polished concrete market is segmented into the densifier, sealers & crack fillers, and conditioners. Among these, the densifier segment is dominating the market with the largest revenue share of 43.6% over the forecast period. The numerous advantages provided by densifiers, such as protection against chemical damage, discoloration, permeable fluids, wear, and deterioration, have contributed to the segment's expansion. The densifier is largely favored and needed for concrete polishing, and the market for it is likely to accelerate throughout the projection period as demand from the non-residential sector rises.

By Construction Type Insights

The capacitive segment is witnessing significant CAGR growth over the forecast period.

On the basis of new construction, the global Polished Concrete market is segmented into new construction and renovation. Among these, the new construction segment is witnessing significant CAGR growth over the forecast period. This rising demand might be due to the growing market for polished concrete products, which are mostly used in manufacturing and workplace applications. Polished concrete is extremely popular for industrial and commercial facilities and floors. The life expectancy, visual appeal, and high-performance features of polished concrete are driving up demand for it in the new construction category.

By End-Use Industry Insights

The non-residential segment accounted for the largest revenue share of more than 57.2% over the forecast period.

On the basis of the end-use industry, the global Polished Concrete market is segmented into residential and non-residential. Among these, the non-residential segment is dominating the market with the largest revenue share of 57.2% over the forecast period. The durability, design appeal, and high-performance features of polished concrete are driving expansion in the non-residential category. Furthermore, the non-residential sub-segment is expected to garner the greatest percentage of the market in the global sector due to the significant demand for polished concrete from healthcare facilities, restaurants, retail facilities, and other destinations.

Regional Insights

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with more than 47.2% market share over the forecast period. The boost in sales may be due to factors such as technical advancements and the growing popularity of the construction and building industries, increased demand for glossy and appealing flooring systems in residential buildings, and an increasing need for the construction of transportation centers. The swift development of the online retail industry has increased the demand for new logistics hubs and warehouses in North America. Furthermore, the use of gleaming, glossy, and aesthetically pleasing flooring solutions for residential settings has been a major driver of the polished concrete market as a whole. Additionally, the emergence of significant companies in the region is likely to be advantageous to the market's development during the forecast period.

Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. Rising residential construction, industrialization, and urbanization in the Asia Pacific are among the primary factors boosting the polished concrete market's growth. Furthermore, China's Polished Concrete market had the most market share, while India's Polished Concrete market was the fastest expanding in the Asia Pacific region.

The Europe market is expected to register a substantial CAGR growth rate during the forecast period. Because polished concrete is a feasible flooring alternative, the market for the material is expected to grow due to severe government regulations on the emission of harmful VOCs and greenhouse gases. Furthermore, the German polished concrete market had the biggest market share in Europe, while the polished concrete market in the United Kingdom was the fastest expanding in the European region.

List of Key Market Players

• Danek Flooring, Inc.
• PPG Industries, Inc.
• 3M Company
• BASF SE
• SIKA AG
• Boral Limited
• Solomon Colors Inc.
• Vexcon Chemicals, Inc.
• The Euclid Chemical Company
• The Sherwin-Williams Company
• UltraTech Cement Limited
• Fairfax Concrete
• TSIAC International
• Polished Concrete Systems Inc.
• Envision Polished Concrete

Key Market Developments

• On May 2022, Ameripolish introduced the SmartFloor^TM Maintenance technique, a technique for cleaning and maintaining polished concrete floors. The daily care kit, which includes unique diamond polishing pads and a revitalizing cleaner, helps to protect and improve the appearance of concrete floors. The Ameripolish Rejuvenating Cleaner is formulated with sealer reinforcement that cleans without harsh chemicals and includes built-in antimicrobial protection to provide further pathogen protection.

• On May 2022, Bartell Global, a provider of concrete finishing, site preparation, and surface preparation equipment and consumables, has joined Blue Point Capital Partners and its BPCP III concrete industry platform, SASE Company. The combined company will broaden its geographic presence throughout the United States, Canada, the United Kingdom, Europe, and Asia, allowing it to provide more solutions and support to a broader range of contractors worldwide.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Polished Concrete Market based on the below-mentioned segments:

Polished Concrete Market, Type Analysis

• Densifier
• Sealer & Crack Filler
• Conditioner

Polished Concrete Market, Method Analysis

• Dry
• Wet

Polished Concrete Market, Construction Type Analysis

• New Construction
• Renovation

Polished Concrete Market, End-Use Industry Analysis

• Residential
• Non-residential

Polished Concrete Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa