Global Terrazzo Flooring market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 5% from 2020 to 2027, reaching US$ XX Mn.
Global Terrazzo Flooring Market
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Terrazzo is a kind of hard surface flooring that is created with the assistance of a concrete framework or epoxy grid composites. Terrazzo involves reused aggregates such as reused glass pieces, marble chips, and others coupled with the binding matrix such as epoxy resin or cement. Terrazzo flooring falls in the classification of green structure materials, which are significantly utilized in the non-residential sector in educational institutes, colleges, office halls, etc. Terrazzo floors are favored for their aesthetic appearance. The global Terrazzo Flooring market is driven by the surge in residential and non-residential construction activities, shift in focus toward sustainable flooring and a wide range of benefits offered. However, the threat of substitute products and the high initial cost and installation cost of terrazzo flooring are restraining the market growth at the global level. Higher creativity and increased design flexibility and the green image of terrazzo flooring are expected to create beneficial opportunities for the key player in the market during the forecast period.
Based on the type, the epoxy terrazzo segment has led the Terrazzo Flooring market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. High chemical resistance, more prominent rigidity, and better control are some of the significant properties presented by concrete based terrazzo flooring. Favorable properties of epoxy-based terrazzo flooring are likely to drive demand for terrazzo flooring between 2019 and 2027. The epoxy terrazzo flooring is likely to be a highly attractive segment over the forecast period owing to epoxy terrazzo has low maintenance cost and is eco-friendly contrasted with concrete -based terrazzo flooring.
Geographically, the terrazzo flooring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Thanks to the leading consumers and environmental advantages of green buildings. The rise in the construction industry is credited to private housing, commercial and infrastructure construction development, and growth in privately funded projects. The market in the Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period. An increase in awareness about eco-friendly products and a rise in standards of living are expected to make the terrazzo flooring market in the Asia Pacific highly lucrative in the coming years. In developing countries like China and India, people are progressively concentrating on improving the aesthetic appearances of their homes. The rising investments in research and development activities for the introduction of advanced terrazzo flooring materials are predicted to accelerate the growth of this region shortly.
A report covers the recent development in the market for the global terrazzo flooring market e.g., RPM International acquired Key Resin Co., a producer of polymer flooring and coating systems that positively contributed toward the development of the terrazzo flooring industry.
The objective of the report is to present a comprehensive analysis of the Global Terrazzo Flooring Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Terrazzo Flooring Market dynamics, structure by analyzing the market segments and project the Global Terrazzo Flooring Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Terrazzo Flooring Market make the report investor’s guide.
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Global Terrazzo Flooring Market, by Type:
• Epoxy Terrazzo
• Cement-Based Terrazzo
Global Terrazzo Flooring Market, by Application:
• Residential
• Commercial
• Industrial
• Infrastructural
Global Terrazzo Flooring Market, by Region:
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Global Terrazzo Flooring Market, Major Players:
• 4m Group
• Concord Terrazzo Company, Inc.
• Kingspan Group
• Diespeker & Co.
• KREZ Group
• RBC Industries, Inc.
• The Venice Art Terrazzo Co., Inc.
• Quiligotti Terrazzo Tiles Limited
• Terrazzo Masters
• RPM International Inc.
• Guangxi Mishi
• H.B. Fuller
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