Non-Residential Polished Concrete Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast

The non-residential polished concrete market is expected to witness a lucrative rate of growth over the forthcoming time period owing to favorable government initiatives towards developing regional infrastructure facilities, increasing revamping activities of hotels & restaurants in developed countries, high consumer preference for positive outlook, and better aesthetics for decorative concrete in retail stores, and rising construction activities of non-residential buildings backed by private & public sector investment.
Polished concrete has long been trending with homeowners, interior designers especially for its unique style and aesthetic appeal. It is known as a very versatile and durable material which is effortlessly customized in its appearance, utilizing stunning colors, quartz, and aggregates to form a sense of industrial sophistication across commercial areas. The reflective surface of polished concrete makes an reminiscent quality under light, which can be appropriate for an assortment of programs.
Polished concrete floor surface is generally made by a mechanical process of grinding as well as polishing with the assistance of a penetrant chemical for providing diverse texture. The concrete polishing is a multi-step process which needs specialized equipment and tools.
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The non-residential polished concrete market is segmented in terms of application, end-user, and regional landscape.
With respect to application, the overall market is divided into retrofit and new floors. Among these, new floors segment is expected to witness a respectable CAGR of around 4.3% over the forecast time period. Rising construction activities of non-residential buildings supported by private & public sector investment will drive product demand in new floors segment by end of analysis timeframe.
In terms of application, the non-residential polished concrete market is categorized into institutional, commercial, and industrial. Commercial application segment will generate more than $4,500 million by end of the analysis timeline. This anticipated growth is attributed to the increasing revamping activities of hotels & restaurants in developed countries. Rising consumer preference for positive outlook as well as better aesthetics for decorative concrete in retail stores will further propel product demand in this segment.
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Polished concrete offers numerous commercial and retail benefits making it the most useful non-residential polished concrete material. These materials require less maintenance and have a longer service life. In fact, polished floors are very simple to clean, with eliminating the need for messy coatings or waxes. Utilizing the slab on grade as the finished floor surface is known to be more economical, in fact, maintenance coast is also low. Polished concrete is also resistant to moisture transmission issues.
From a regional frame of reference, non-residential polished concrete market in Latin America will be accounting for limited share throughout the study timeframe. This can be majorly due to developing construction industry in major countries.
The country majorly relies on imports for meeting their construction material requirements. However, favorable government initiatives to develop regional infrastructure facilities are expected to drive product demand in the sector over coming years.