A new report by Research and Markets forecasts that the worldwide market for polished concrete will grow from $2.2bn (£1.58bn) to $3bn (£2.15bn) by 2025, a 5.6% compound annual growth rate.
A major factor in the growth of polished concrete is the demand for attractive, cost-effective and low-maintenance concrete flooring.
The densified concrete segment is forecast to achieve the highest growth during the next few years. This higher demand is due to the extra protection densified concrete flooring provides against chemicals, staining, spills and wear.
Though concrete flooring is installed in many new residential properties, the largest use is still from commercial buildings. The world is currently seeing an increase in commercial building construction, particularly warehouses that are being built for the dramatic increase in online sales caused by the coronavirus pandemic, since more people are shopping from home during lockdowns and this trend is expected to continue.
Many emerging economies are rapidly expanding their industrial growth, and governments have increased support for the infrastructure. In many of these regions, the population is increasing too, providing a strong customer base that supports new companies building workspaces with concrete flooring.
The report notes that dry polishing is the fastest-growing treatment method for concrete flooring as it creates a higher shine and makes the floor more durable. Commercial building owners call for high-shine flooring because it has an aesthetic appeal as well as being highly practical and easy to clean – important qualities in the current climate.