North America Concrete Flooring Market Size, Share & Trend Analysis Report By Product (Coated, Polished), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030

North America Concrete Flooring Market Size, Share & Trend Analysis Report By Product (Coated, Polished), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030

North America Concrete Flooring Market Growth & Trends

The North America concrete flooring market size is expected to reach USD 3,912.8 million by 2030,growing at a CAGR of 4.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is driven by rising spending on the construction of residential and commercial spaces owing to a growing population. Moreover, the properties of concrete flooring, such as its high strength and durability, make it a suitable option for warehouse and garage applications.

Government initiatives towards the development of affordable residential homes in the U.S. due to a rising population and globalization is anticipated to increase the need for less expensive and more durable flooring options. Thus, augmenting the demand for concrete flooring in the North America region. Moreover, the growth of manufacturing industries including automotive, energy, and construction in Mexico, owing to its low manufacturing costs and the availability of cheaper raw materials and labor, is further expected to fuel the demand for durable flooring options.

The market for concrete flooring is hindered by the presence of other flooring substitutes such as vinyl, ceramic tiles, carpet, wood flooring, laminate flooring, and porcelain tiles. These materials are easier to install and provide better aesthetics than concrete flooring. There are rising disposable incomes which have increased the investments in modern flooring options. These factors are expected to negatively affect the demand of the market.

The market for concrete flooring in North America is competitive in nature. The industry is fragmented, with several players in the industry focusing on increasing their market share by expanding their product portfolio and geographical presence. The players in the market have formed strategic partnership with third party companies to ensure distribution and sales across regions.

North America Concrete Flooring Market Report Highlights

• The North America polished concrete flooring market is valued at USD 1,278.8 million in 2022 and is growing at a CAGR of 3.7%. This growth is attributed to its growing demand in commercial buildings due to its characteristics such as better aesthetics, durability, ease of maintenance, and lower cost. Additionally, it is anticipated that factors including low maintenance requirements, stain resistance, LEED compatibility, thermal shock resistance, and high durability will support the overall demand in the region
• The coated product segment is growing at the fastest CAGR of 4.4% in terms of revenue over the forecast year. Coated concrete floors are used for providing high-temperature resistance to indoor and outdoor areas and protect the floors in commercial and residential buildings. The growth of the U.S. construction and manufacturing sectors is expected to increase the demand for coated concrete flooring in the region
• The commercial application segments of North America's concrete flooring industry accounted for USD 2,839.7 in 2022. Polished concrete flooring is most often used in commercial applications due to its aesthetic appearance and ability to withstand heavy traffic. Concrete flooring products are used in numerous commercial building applications, including offices, convenience stores, hotels, shopping malls, and the construction of other retail stores. The rise in construction spending toward commercial buildings is expected to propel the growth of the concrete flooring market over the forecast period.
• The U.S. market for concrete flooring has dominated the North America market and accounted for USD 1,993.9 million in 2022. It is growing at a CAGR of 4.1% over the forecast year 2023–2030. This growth is attributed to the increasing construction of residential and commercial buildings in the region, rising demand for multifamily housing projects, and government initiatives for the construction of affordable homes. Additionally, infrastructural developments in the region are leading to the growth of the market

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