Non-Residential Polished Concrete Market Size By Application (New Floors, Retrofit Floors), By End-user (Industrial, Commercial, Institutional), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Non-Residential Polished Concrete Market size exceeded USD 7.78 billion in 2020 and will grow at 4.3% CAGR from 2021 to 2027. Superior product features including higher reflectivity, excellent durability and cost-effectiveness as compared to other concrete solutions is driving the industry growth.
 

Polished concrete has witnessed tremendous demand in overall building & construction sector over past few years. This can be attributed to its ability to cope up heavy foot traffic along with reasonable cost. Polished concrete surfaces, if maintained at regular interval, may eliminate need for replacement for 20 to 30 years. Growing need for improving aesthetic features of hotels, supermarkets, airports, healthcare facilities, etc. is expected to contribute in success of product’s growth.
 

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Another key growth enabling factor is increasing construction activities in Asia Pacific related to non-residential sector. In 2019, China has reported to spend over USD 4 trillion in construction activities, in which commercial sector accounted for 40%. China accounts for around 20% of global construction investment, which also makes the country one of the largest buildings market.
 

Growing population along with increasing disposable income in different countries has attracted investment in Asia Pacific non-residential construction sector. The region is also experiencing investment from industrial companies, which includes upgradation of existing warehouse and designing & constructing new custom facilities. Such trends will further drive need for installation of new flooring, which will increase product demand over 2021 to 2027.
 

Although industry is growing at rapid rate, the challenges associated with adverse impact of concrete on environment may slowdown product demand during 2021 to 2027. According to National Ready Mixed Concrete Association (NRMCA), the production of 1 Kg of concrete generates approximately 0.93 kg of carbon emission. Such trends will create necessity of stringent regulations for manufacturing of concrete products, which will again hamper industry growth by 2027.
 

Ongoing coronavirus pandemic is likely to decline sales volume of non-residential polished concrete market from 2019 to 2020 due to temporary suspension of non-residential construction activities. Globally, building materials have faced significant losses in terms of revenue owing to international trade restriction and stoppage in construction activities across the world. Regionally, Europe and North America are projected to see significant drop in growth rate of polished concrete industry during pandemic year. This will be subjected to construction output in their respective countries for 2020. The Construction Product Association estimated that construction output in the UK will drop by around 25% and commercial construction output by 36% in 2020. Such trends are poised to slowdown market growth rate through 2027.
 

New floors segment will lead global sales volume

New floors are forecast to hold majority share of global non-residential polished concrete market during 2017 to 2027. The product possess key properties of high light reflectivity, enhanced aesthetics, easy to clean surface finish and low maintenance cost. This factor has propelled polished concrete adoption in buildings such as educational centres, hotels, malls, offices, etc. Increasing investment in construction activities of non-residential buildings & structures will further enhance product demand in new floors segment from 2021 to 2027.
 

Trending hotels & restaurant remodeling will drive product penetration in commercial sector

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In 2020, commercial segment generated around USD 3.5 billion in non-residential polished concrete market driven by the increasing product demand in retail stores and hotels. Building owners are focusing on renovating their existing infrastructure of hotels & restaurants in many parts of the world, which will attract product manufacturer’s attention. Europe reported an increase in hotel construction projected by 10%, year-over-year basis to reach at more than 1,500 in 1^st quarter of 2020. The U.S. has also reported considerable increase in hotel construction for the same period. Such trends are expected to increase penetration of polished concrete by end of 2027.
 

Revamping projects and public investment will form basis for APAC’s growth

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Asia Pacific is predicted to account for around 55% of the non-residential polished concrete market share from 2021 to 2027. The key factor behind this are increasing new construction and remodeling activities of buildings & structure across major countries. Countries like, Malaysia, Indonesia, Japan, South Korea, etc. have witness significant investment from public and private sector in non-residential sector. Malaysia reported over USD 2.5 billion in non-residential construction activities during 1^st quarter of 2018. Similarly, Australia reported more than USD 1 billion of non-residential construction work completed during March quarter of 2020. Such trends are promoting regional construction activities for non-residential sector.
 

Additionally, many end-users are focusing on enhancing their existing industrial facilities in order to remain competitive. Doosan Heavy Industries & Construction, a South Korean company, has announced to revamp its business portfolio including renewable energy and gas turbine power generation by raising approximately USD 3 trillion, which will be raised from asset sales, cost reduction and capital increase. Such trends will proliferate expansion and revamping activities of non-residential projects in the region.
 

Strategic partnerships and new product launches may enhance top player’s market share

The non-residential polished concrete industry is dynamic and harshly competitive owing to presence of large number of small to medium scale product manufacturers. Some of the major players in the market are HeidelbergCement, Cemex, Vicat, Lafarge Holcim, Boral, US Concrete and many more.
 

The key strategic initiatives adopted by these companies include product launches, merger & acquisitions, capacity expansion, etc. In November 2020, HeidelbergCement AG planned to invest nearly USD 400 million on the reorganization program for its various production sites in France, which includes conversion of the plant and automated cement terminal for the distribution. Similarly, the Cemex s.a.b. de c.v. invested in the GoFor Industries, a distributor in North America. These will enhance company’s delivery capabilities in North America for building materials.
 

This market research report on non-residential polished concrete includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2017 to 2027 for the following segments:

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Market, By Application

• New floors
• Retrofit floors

Market, By End-User

• Industrial
• Commercial
• Institutional

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
• LATAM
  • Brazil
  • Mexico
  • Colombia
• MEA
  • Saudi Arabia
  • UAE
  • South Africa