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North America Non-Residential Polished Concrete Market Size
North America Non-Residential Polished Concrete Market size valued at USD 1.03 billion in 2021 and will exhibit a growth rate of over 4% from 2022 to 2028. North America is observing a staggering rise in the construction of non-residential buildings, such as lodgings, offices, commercial buildings, healthcare & public safety facilities, and educational institutes, which will contribute to the market growth.
The rising consumer inclination toward distinctive & affordable flooring solutions is positively influencing polished concrete demand in the non-residential sector. The option of multiple color shades available in polished concrete to match the interior design & ambiance in commercial spaces is escalating the market revenue. The increasing consumer awareness of green construction and energy savings will significantly augment the industry statistics.
The construction of lodgings witnessed significant growth in 2021 driven by the continued economic prosperity, which boosted corporate earnings and business & leisure travel accommodation. Moreover, big projects planned by Apple, Google, Amazon & other corporate giants and investments in amusement & conference centers are expected to spur the polished concrete demand.
| Report Attributes | Details |
|---|---|
| Base Year: | 2021 |
| Market Size in 2021: | 1.03 Billion (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 4% |
| 2028 Value Projection: | 1.34 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 59 |
| Segments covered: | Application, End-User |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Furthermore, growing investments in the construction industry are one of the key factors escalating market expansion. The total industry development is projected to be fueled by heavy government investments in construction & infrastructure projects in the region. The surging private and public commercial construction activities in the U.S. have propelled the polished concrete market demand. In 2018, the U.S. valued at USD 453 billion in terms of private non-residential buildings and USD 295 billion in terms of public non-residential construction.
The polished concrete industry will face challenges owing to the ongoing COVID-19 pandemic. This may be due to the sudden closure of cement & concrete facilities and the declining construction of warehouse & commercial facilities. However, the non-residential construction sector is expected to witness significant growth on account of expanding warehouse, storage, retail, and manufacturing facilities in the U.S. and Canada.
North America Non-Residential Polished Concrete Market Analysis
The new floors segment dominates the regional non-residential polished concrete market and is poised to reach USD 1 billion by 2028 as it requires less work and involves a low cost of cleaning compared to other floorings. Moreover, polished concrete floors are gaining popularity among retail stores, shops, and office spaces as they offer a combination of simplicity, modernity, and an easy-to-clean slate for styling. Superior durability along with the ability to withstand compressive force will enhance product penetration.
The commercial end-user segment will generate a demand of around 600 kilo tons by 2028 owing to the rising adoption in hotels & retail stores. Increasing consumer shift toward renovating hotels & restaurants will drive the non-residential polished concrete market in the North America. Engraving provides increased depth & dimension to the floor coupled with color separation. The application of polished concretes in commercial projects makes floors resistant to discoloring, staining, and chipping in high traffic; hence, eliminating the need for frequent resurfacing & waxing.
Canada market size is set to account for nearly USD 115 million revenue by 2028 led by the strong growth in commercial construction in the country. Rising urbanization together with growing construction spending by the government to improve infrastructures will support the regional market growth. Rising flooring applications in industries, such as warehousing, retail, and manufacturing, will favor industry expansion.
North America Non-Residential Polished Concrete Market Share
Some of the key manufacturers include
- LafargeHolcim Ltd.
- HeidelbergCement AG
- Sika Corporation
- Cemex S.A.B. de C.V.
- Vicat
- Summit Material
- Martin Marietta Materials, Inc
- CRH Plc
- U.S. Concrete, Inc.
The companies in the region are actively exploring opportunities to accelerate their presence and profitability in this growing industry through strategic partnerships & acquisitions.
This market research report on North America non-residential polished concrete includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2018 to 2028 for the following segments:
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Market, By Application
- New Floors
- Retrofit Floors
Market, By End-user
- Industrial
- Commercial
- Institutional
Market, By Country
- North America
- U.S.
- Canada
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