Terrazzo Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Terrazzo Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global terrazzo flooring market size reached US$ 25.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.

Terrazzo flooring is made by combining granite, marble, quartz, shell, glass, or other suitable materials with a cement or epoxy resin binder. It comprises epoxy and cementitious floorings which can be used both indoors and outdoors. It is non-porous, mold and chemical resistant with low maintenance and lifecycle costs, and easy to clean without any scouring, polishing, or scrubbing. It has high durability, better color consistency and performance, and anti-slip features. As a result, terrazzo flooring finds extensive applications in the education, healthcare, residential, commercial, and government sectors.

Terrazzo Flooring Market Trends:

At present, there is a rise in construction and renovation activities in the residential and commercial sectors around the world. This, along with the growing demand for green and eco-friendly floorings, represents one of the key factors driving the market. Moreover, there is an increase in the construction of educational institutes and universities worldwide. This, coupled with the rising interior designing in the construction industry, is strengthening the growth of the market. Additionally, the escalating demand for aesthetically appealing outdoor entertainment areas among millennial property buyers is positively influencing the market. Apart from this, several benefits offered by terrazzo floorings, such as creative finishing and high design flexibility, are propelling the growth of the market. Besides this, rising investments in retrofitting activities across the globe are offering lucrative growth opportunities to industry investors. In addition, key market players are focusing on various marketing strategies, such as business development and mergers and acquisition (M&A), to increase their overall sales and profitability. In line with this, the versatility and suitability of terrazzo floorings for bedrooms, bathrooms, or kitchens is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global terrazzo flooring market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

Epoxy Terrazzo
Cement-based Terrazzo

Breakup by Application:

Educational Institutions
Commercial
Government Buildings
Transport Infrastructure
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 4M Group, Concord Terrazzo Company Inc., Diespeker & Co., Kingspan Group plc, KREZ Group, Quiligotti Terrazzo Tiles Limited, RBC Industries Inc., RPM International Inc., Terrazzo Masters and The Venice Art Terrazzo Co. Inc.

Key Questions Answered in This Report:

How has the global terrazzo flooring market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global terrazzo flooring market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global terrazzo flooring market and who are the key players?
What is the degree of competition in the industry?