The global terrazzo flooring market was valued at USD 22,780 million in 2019, which is anticipated to witness 5.0% CAGR during the forecast period. The global terrazzo flooring market has emerged as a competitive environment with the presence of small and major manufacturers focusing on product differentiation, innovative design, mergers & acquisitions, expansion and various other strategies in order to increase its market presence, globally.
The prominent players in the terrazzo flooring market are 4m Group (UK), Concord Terrazzo Company, Inc. (US), Kingspan Group (Ireland), Diespeker & Co. (UK), KREZ Group (US), RBC Industries, Inc. (US), The Venice Art Terrazzo Co., Inc. (US), Quiligotti Terrazzo Tiles Limited (UK), Terrazzo Masters (US), and RPM International Inc. (US).
Get a FREE Sample with Complete TOC @ https://www.marketresearchfuture.com/sample_request/8065
- Raw material suppliers
- End users
- Traders & distributors
- Regulatory bodies
- Market research and consulting firms
Terrazzo Flooring Market Highlight
The global terrazzo flooring market was valued at USD 22,780 million in 2018, which is expected to witness a CAGR of around 5.0% during the forecast period. The base year considered for the study of the market, is 2018, and the forecast period for the global cross laminated market is 2019 to 2024.
Growing demand for green building materials coupled with an increase in the growth of the commercial replacement market has further enhanced the growth of the market. Moreover, the rapid expansion of tourism and hospitality coupled with the rise in construction of commercial and residential buildings in developing countries such as China, India, and South Korea, are further expected to drive the global terrazzo flooring market. The growing research and development activities by major manufacturers for innovative design and service for terrazzo flooring tiles and terrazzo epoxy flooring are expected to add to the market growth. Manufacturers that specialize in terrazzo flooring offer a wide range of lightweight and recycled raw materials, such as recycled marble chips and glass pieces. The manufacturers follow expansion strategy in order to strengthen their positions in the market.
Global Terrazzo Flooring Market: Regional Analysis
The global terrazzo flooring market has been segmented by region into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America accounted for the largest market share of approximately 35%, which is expected to retain its dominance during the forecast period. This is attributed to the repair and renovation activities in commercial real estate in North America. Furthermore, a majority of the leading companies, such as Concord Terrazzo Company, Inc., and KREZ Group, RBC Industries, Inc are based in the US.
Asia-Pacific is expected to witness the highest growth rate in the terrazzo flooring market due to the booming construction industry in the residential, commercial, and industrial sector is expected to contribute to the demand for terrazzo flooring market.
North America to witness a gradual rise in the terrazzo flooring market during the forecast period.
On the basis of region, the global terrazzo flooring market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share in 2018, followed by Asia-Pacific, primarily due to the leading consumers and environmental advantages of green buildings. The rise in construction industry is attributed to private housing, commercial and infrastructure construction growth and growth in privately funded projects.
Epoxy terrazzo segment, to witness higher growth rate than the cement-based terrazzo segment in the global terrazzo flooring market.
On the basis of type, the epoxy terrazzo segment accounted for the larger market share, which is also expected to witness maximum growth rate during the forecast period, due to its extensive use in residential and commercial buildings for interior applications. Such types of flooring are cost-effective and have enhanced durability and performance. Companies are coming up with innovation in the wood industry as well as they are investing in research & development activities to boost the demand for eco-friendly manufacturing flooring products.
Access Report Details @ https://www.marketresearchfuture.com/reports/terrazzo-flooring-market-8065
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar