Terrazzo Flooring Market Will Reach at a 5.0% CAGR by 2024
Global Terrazzo Flooring Market Research Report Information: by Type (Epoxy Terrazzo, and Cement-Based Terrazzo), Application (Residential, Commercial, Industrial and Infrastructure) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024
The global terrazzo flooring market was valued at USD 22,780 million in 2018, which is expected to witness a CAGR of around 5.0% during the forecast period. The base year considered for the study of the market, is 2018, and the forecast period for the global cross laminated market is 2019 to 2024.
Market Highlights
The global terrazzo flooring market is anticipated to witness sustainable growth throughout the forecast period. The tremendous growth of commercial replacement market and an increase in the demand for innovative designs in commercial buildings are expected to increase the demand for terrazzo flooring, globally. Moreover, the rapid expansion of tourism and hospitality industries coupled with increasing investments in commercial real estate are expected to improve sales prospects in the global terrazzo flooring market. Furthermore, the increase in the number of green buildings is expected to increase the use of eco-friendly and lightweight floor coverings. Rapid construction of commercial and residential buildings in emerging countries such as China, India, and South Korea, is one of the major factors driving the global terrazzo flooring market. However, stringent regulations on manufacturing flooring products are expected to hinder the.
Key Players
The prominent players in the terrazzo flooring market are 4m Group (UK), Concord Terrazzo Company, Inc. (US), Kingspan Group (Ireland), Diespeker & Co. (UK), KREZ Group (US), RBC Industries, Inc. (US), The Venice Art Terrazzo Co., Inc. (US), Quiligotti Terrazzo Tiles Limited (UK), Terrazzo Masters (US), and RPM International Inc. (US).
Scope of the Report
This study provides an overview of the global terrazzo flooring market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global terrazzo flooring market by type, application, and region.
By Region
North America
Asia-Pacific
Europe
Rest of the World
North America to witness a gradual rise in the terrazzo flooring market during the forecast period.
On the basis of region, the global terrazzo flooring industry has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share in 2018, followed by Asia-Pacific, primarily due to the leading consumers and environmental advantages of green buildings. The rise in construction industry is attributed to private housing, commercial and infrastructure construction growth and growth in privately funded projects.
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