Global Terrazzo Flooring Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Terrazzo Flooring Market 2021 (Includes Business Impact of COVID-19)
Global Terrazzo Flooring Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global terrazzo flooring market report has been segmented on the basis of type, application, and region.
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The global Terrazzo Flooring market size was valued at USD$20.31 billion in 2020 and is projected to reach USD $33.12 billion by 2030, and is anticipated to expand at a CAGR of 5.57% over the forecast period from 2020 to 2030.


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.


Below are the active patents related to Terrazzo Flooring Market.


Patent Number: US8257145B2

Epoxy terrazzo flooring and method for polishing the same

Abstract

A method of polishing a marble terrazzo floor, including shaving the surface with a first plurality of first diamond abrasive particles, and shaving the surface with a second plurality of second diamond abrasive particles. The first diamond abrasive particles are MBG-type mesh crystals characterized by a first average size, wherein the second diamond abrasive particles MBG-type mesh crystals characterized by a second, smaller average size, and wherein the diamond abrasive particles substantially laterally impact surface protrusions.

Application filed by Date: 2009-05-28

Application granted Date: 2012-09-04

Current Assignee: Young Ideas LLC

Global Terrazzo Flooring Market Segmentation:

Segmentation by Type:

  
Epoxy Terrazzo
  
Cement-based Terrazzo

Segmentation by Application:

  
Educational Institutions
  
Commercial
  
Government Buildings
  
Transport Infrastructure
  
Residential


Key Market Players included in the report:


  
4m Group (UK)
  
Beijing Lu Xing
  
Concord Terrazzo Company Inc. (US)
  
Diespeker & Co. (UK)
  
Doyle Dickerson Terrazzo
  
Guangxi Mishi
  
H.B. Fuller
  
Kingspan Group (Ireland)
  
KREZ Group (US)
  
Lijie Technology
  
Quiligotti Terrazzo Tiles Limited (UK)
  
RBC Industries Inc. (US)
  
RPM International Inc.
  
RPM International Inc. (US)
  
Terrazzo Masters (US)
  
The Venice Art Terrazzo Co. Inc. (US).