EIN Presswire

Terrazzo Flooring Market Anticipated to Reach $31,951.2 Million in 2025 | Covid-19 Impact Analysis With Leading Players

Increase in construction, renovation, and retrofitting activities is the key factor that drives the growth of the global terrazzo flooring market.

PORTLAND, OR, UNITED STATES, October 17, 2021 /EINPresswire.com/ — Enhanced sustainability and high strength offered by terrazzo floorings fuel their demand, thereby driving the growth of the global market. Furthermore, rise in investment in interior designing and retrofitting activities in residential & commercial properties boost the market growth. Moreover, upsurge in demand for terrazzo in outdoor applications such as for pools, stairs, patios, garages, and others is projected to positively contribute toward the growth of the industry.

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%.

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However, high threat of substitutes, such as vinyl flooring, wooden flooring, and others, is expected to hinder the market growth. Conversely, rise in per capita income in the emerging economies such as Asia-Pacific and LAMEA is expected to create lucrative opportunities for market expansion.

Terrazzo is a type of hard surface flooring, which is fabricated by using an epoxy matrix or cement matrix composite to bind aggregates such as marble pieces, glass pieces, or other suitable material. Increase in demand for flooring due to rise in construction projects across different regions propel the growth of the global terrazzo flooring market. In addition, improved finish offered by these floorings enhances the aesthetics and makes the room look spacious, thereby propelling the growth of the market.

Key Market Players

4m Group
Concord Terrazzo Company, Inc.
Diespeker & Co.
Kingspan Group
KREZ Group
Quiligotti Terrazzo Tiles Limited
RBC Industries, Inc.
RPM International Inc.
Terrazzo Masters
The Venice Art Terrazzo Co., Inc.

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Key Market Segmentation

By Type

Epoxy Terrazzo
Cement-based Terrazzo

By Application

Educational Institutions
Government Buildings
Transport Infrastructure

By Region

North America

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David Correa
Allied Analytics LLP
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