Terrazzo Flooring Market Overview :
The global terrazzo flooring market was valued at $21,691.1 million in 2017, and is projected to reach $31,951.2 million in 2025, growing at a CAGR of 4.9%. Terrazzo is a type of hard surface flooring, which is produced using binding material such as epoxy or cement and pieces of recycled glass, marbles, and others.
The growth of the global terrazzo flooring market is driven by the benefits offered by this flooring such as elegance and high-end aesthetics over other types of floorings. In addition, rise in demand for aesthetically appealing outdoor entertainment area among millennial property buyers fuel the need for these floorings among residential end users. However, high threat of substitutes, such as marble flooring and others, is one of the major challenges faced by the players operating in the industry. On the contrary, creative finishing and increased design flexibility offered by terrazzo for flooring are anticipated to provide lucrative opportunities for market expansion.
The global terrazzo flooring market is segmented based on type, application, and region. On the basis of type, the market is classified into epoxy terrazzo and cement-based terrazzo. The epoxy terrazzo segment is anticipated to dominate the global market throughout the study period. Depending on application, the market is segregated into educational institutions, commercial buildings, government buildings, transport infrastructure, and others. The residential segment is projected to lead the global market during the forecast period.
The global terrazzo flooring market is analyzed across four geographical regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, France, Russia, Italy, and Rest of Europe), Asia-Pacific (China, Indonesia, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America is expected to dominate the market throughout the forecast period, followed by Europe. The key players profiled in this report are 4m Group, Concord Terrazzo Company, Inc., Diespeker & Co., Kingspan Group, KREZ Group, Quiligotti Terrazzo Tiles Limited, RBC Industries, Inc., RPM International Inc., Terrazzo Masters, and Venice Art Terrazzo Co., Inc.
Key Benefits for Terrazzo Flooring Market :
The study provides an in-depth analysis of the global terrazzo flooring market along with current & future trends to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global market from 2017 to 2025 is provided to determine the market potential.
Terrazzo Flooring Key Market Segments :
Rest of Europe
Rest of Asia-Pacific
KEY MARKET PLAYERS PROFILED IN THE REPORT
Concord Terrazzo Company, Inc.
Diespeker & Co.
Quiligotti Terrazzo Tiles Limited
RBC Industries, Inc.
RPM International Inc.
Venice Art Terrazzo Co., Inc.