Terrazzo Flooring Market Overview
Market Research Future (MRFR) forecasts that the global Terrazzo Flooring Market will demonstrate 5?GR from 2019 to 2024.
The market was valued at over USD 22,700 in 2018. Rising demand for green building materials along with the fast expansion of the commercial replacement industries is proving tailwinds to the market. Also, the pacey growth of the hospitality and tourism sector along with the increasing residential construction and commercial activities in countries such as India and China are creating significant market opportunities.
Over the years, the terrazzo flooring industry has undergone several phases of evolution. As a result new materials have come up. Product innovation remains a key area of focus for the industry. Market players are introducing new products that are superior to existing variants. Some of elements that are kept in mind while developing new products include weight and environmental sustainability. Also, manufacturers are focus on using glass pieces and recycled marble chips as raw materials. Companies that manufacture terrazzo flooring are implementing aggressive growth strategies to consolidate their market position.
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Demand for terrazzo flooring is expected to grow at an impressive rate in Asia over the next couple of years. Development of mega construction projects sanction by governments is viewed as a major market driver. Macroeconomic factors such as rising disposable income, increased investment in infrastructure development, and rapid urbanization are also linked with the market growth in the region.
• Raw material suppliers
• End users
• Traders & distributors
• Regulatory bodies
• Market research and consulting firms
Global Terrazzo Flooring Market: Competition Tracking
Some of the leading market players discussed in MRFR’s report include KREZ Group (US), Diespeker & Co. (UK), RBC Industries, Inc. (US), Concord Terrazzo Company, Inc. (US), The Venice Art Terrazzo Co., Inc. (US), Terrazzo Masters (US), Kingspan Group (Ireland), RPM International Inc. (US), 4m Group (UK) and Quiligotti Terrazzo Tiles Limited (UK). Many of these companies are actively focusing on growth strategies such as M&A, new product development, partnerships and collaboration agreement.
Global Terrazzo Flooring Market: Segmental Analysis
MRFR’s report includes a segmental analysis of the market on the basis of application and type.
On the basis of application, the market has been segmented into commercial, residential, infrastructural and industrial. In terms of value, the residential segment currently dominates the market and this trend is likely to continue beyond 2019.
On the basis of type, the market has been segmented into cement-based terrazzo and epoxy terrazzo. The cement-based terrazzo accounts for a significant share of the market however the epoxy terrazzo is likely to outperform the former in the forthcoming years. It is projected that the epoxy terrazzo segment will witness a relatively higher growth rate during the forecast period. Preference for epoxy terrazzo flooring is growing owing its properties such as cost-effectiveness, durability, impressive chemical resistance and dimensional stability. Whereas, cement-based terrazzo is an older and conventional flooring type, which continues to find both external and internal application.
Global Terrazzo Flooring Market: Regional Analysis
Regions covered in the report include Europe, North America, Asia Pacific (APAC) and the rest of the world (RoW). Among these, North America represents a standout share of the global terrazzo flooring market. Currently, the region accounts for nearly one-third share of the global market in terms of revenue. Repair and renovation activities in the U.S. and Canada make a significant contribution in terms of revenue. Moreover, presence of several established market players such as RBC Industries, Inc, KREZ Group, and Concord Terrazzo Company, Inc. puts the region at a favourable position. Asia Pacific is also expected to present attractive opportunities to market players during the forecast period. Industrial boom coupled with rapid urbanization is providing an impetus to the market in APAC.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis
List of Tables
Table 1 Terrazzo Flooring Market, by Region, 2019–2024
Table 2 North America: Terrazzo Flooring Market, by Country, 2019–2024
Table 3 Europe: Terrazzo Flooring Market, by Country, 2019–2024
Table 4 Asia-pacific: Terrazzo Flooring Market, by Country, 2019–2024
Table 5 Row: Terrazzo Flooring Market, by Country, 2019–2024
Table 6 Terrazzo Flooring Market, by Type, by Region, 2019–2024
Table 7 North America: Terrazzo Flooring Market, by Type, by Country, 2019–2024
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down and Bottom-up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Terrazzo Flooring Market Share, by Type, 2018 (%)
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