European Non-Residential Polished Concrete Market size is predicted to reach USD 1.9 billion by 2027, according to a latest forecast report by Graphical Research. Industry growth is propelled by rising demand for commercial buildings and a growing number of construction projects in the region.
Some of the key findings of the non-residential polished concrete market report include:
- Commercial sector is the major end-user of non-residential polished concrete due to the growing number of retail stores and supermarkets.
- Restoration and remodeling projects will significantly contribute to the market growth and propel the industry size.
- The favorable government norms are easing the market entry for new players, thereby, making it a highly fragmented market.
- The green building construction projects are likely to drive industry growth in the coming years.
- China is expected to govern the overall market behavior owing to its major share in terms of value.
The demand for polished concrete is accelerating due to the transition in consumers’ preference towards effective, reliable, and low-maintenance flooring options. Polished concrete is preferred by a broad range of consumers majorly owing to the availability of numerous colors and patterns coupled with the benefits of high reflective characteristics. The capability to enhance the ambient lighting provides polished concrete an aesthetic appeal and helps to reduce the energy bill. Modern remodeling designs along with an aging number of infrastructures will boost the market revenue.
On the other hand, the severely affected construction industry on account of the outbreak of COVID-19 is likely to hamper the market growth for a short period of time. For instance, the European non-residential polished concrete industry witnessed negative growth in 2020 owing to a significantly reduced number of construction projects and restricted movement of goods. However, the recovering construction industry in Europe is creating a positive outlook for the polished concrete demand.
Browse detailed statistical insights from the report, “Europe Non-Residential Polished Concrete Market Size By End-user (Commercial, Institutional, Industrial), By Application (Retrofit Floors, New Floors), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
New floors segment is projected to hold the largest market share during the study period. The high demand for new flooring applications is due to the cost-effectiveness, superior aesthetic properties, and a surge in commercial and infrastructure projects in Europe. Additionally, low maintenance costs of polished concrete compared to other flooring options, makes them a preferred consumer choice and hence driving the product demand in this market segment.
Among the end-users, the commercial segment is anticipated to showcase the highest growth rate while reflecting a CAGR of up to 4.8% from 2021 to 2027. The growth is attributed to the rising number of projects, such as medical centers, manufacturing facilities, retail stores, and superstores, among others. Moreover, the rising investment in the healthcare sector and the increasing number of educational facilities are further expected to propel the market size.
Among the various countries, Germany will drive European non-residential polished concrete market growth by emerging as the fastest growing country, with a growth rate of around 6.2% between 2021 and 2027. The existence of a vast number of aging buildings is the major catalyst accelerating the market demand. Moreover, as per the European Parliament, around 35% of buildings in the European Union are more than 50 years old and approximately 110 million buildings require remodeling or renovation jobs. Also, the massive number of tourists visiting the region every year along with an increasing number of immigrants in several countries will augment the construction projects, thereby, stimulating the demand for non-residential polished concrete.
Some of the key market players include LafargeHolcim Ltd., HeidelbergCement Group, Breedon Group plc, Vicat SA, CRH plc, ELKON, Triumph, Concria, Polished Concrete Co., and MIKEA s.r.l.
The European non-residential polished concrete market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Europe Market, By Application
- Retrofit floors
- New floors
Europe Market, By End-User
The above information has been provided for the following countries:
- Rest of Europe