Global Terrazzo Flooring Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Terrazzo Flooring Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global terrazzo flooring market report has been segmented on the basis of type, application, and region.
Global Terrazzo Flooring Market: Overview
Terrazzo is a compound material, which is poured in a mold or precast which can be further used for flooring and wall treatment purpose. Terrazzo is a combination of small chips of glass, quartz, marble, and other suitable materials and poured with polymeric – for physical binding, or a cementitious binder – for chemical binding, or combining the both.
Global Terrazzo Flooring Market: Dynamics
Increasing construction activities globally is one of the key factor expected to drive growth of the global market. In addition, increasing renovation or remodeling activities among existing buildings and inclination towards modernizing are some additional factors projected to support the revenue growth of the target market. Moreover, growing number of educational institutes, government building, and other commercial construction projects is another factor anticipated to propel the target market growth over the forecast period. Furthermore, rising demand for the visually appealing outdoor area among the millennial property buyers is propelling the demand for these flooring among residential application, which in turn, fueling growth of the target market.
However, the availability of alternate flooring options and high cost are some of the major factors projected to hamper the global market growth over the forecast period. In addition, escalating prices of raw material is the other factor expected to challenge growth of the target market to a certain extent.
Global Terrazzo Flooring Market: Segmental Analysis
Among the type segments, the epoxy terrazzo segment is expected to account for the significant revenue shares of the global market, which can be attributed to various benefits offered by it including easy installation process and low cost of maintenance as compared to other types.
Among the application segments, the commercial segment is projected to register significant growth over the forecast period. This can be attributed to growing commercial construction activities across the globe.
Global Terrazzo Flooring Market: Regional Analysis
Terrazzo flooring market in Asia Pacific is expected to contribute significant revenue shares, owing to an increasing number of commercial construction projects and industrialization. In addition, an increasing number of educational institutions are fueling the demand for terrazzo flooring in order to add esthetic look to the building structures which in turn propelling growth of the target market in the region. European terrazzo flooring market is expected to register significant growth over the forecast period. This can be attributed to terrazzo flooring is most preferred flooring method, even in ancient time as well as currently, owing to several benefits associated with it including durability and extended lifespan. North America terrazzo flooring market is expected to register significant growth, owing to increasing preference for luxurious lifestyle. In addition, willingness to pay more for premium flooring services coupled with high disposable income are some additional factors fueling the target market growth in the region.
Global Terrazzo Flooring Market Segmentation:
Segmentation by Type:
- Epoxy Terrazzo
- Cement-based Terrazzo
Segmentation by Application:
- Educational Institutions
- Government Buildings
- Transport Infrastructure
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Diespeker & Co.
- 4m Group
- Concord Terrazzo Company, Inc.
- KREZ Group
- Kingspan Group
- Quiligotti Terrazzo Tiles Limited
- RPM International Inc.
- RBC Industries, Inc.
- The Venice Art Terrazzo Co., Inc.
- American Tile & Terrazzo Co., Inc.
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