Terrazzo Flooring Market Scope
Terrazzo is a compound precast material which is used in construction activities for floor and wall treatments. It is a decorative flooring consists of chips of granite, marble glass, quartz, and other appropriate material, poured with a polymeric or cementitious binder. Increasing demand from the commercial sector for institutions, schools, and auditoriums, and others boosting the demand for improved construction material with enhanced product lifespan and features. Growing demand for environmentally friendly construction material driving the demand for terrazzo flooring as sustainable materials is used in the terrazzo flooring. Further, rising demand for material which is resistant to fire damage, water damage, chemical spillage, and other stain risks expected to drive the demand for Terrazzo flooring.
The global Terrazzo Flooring market is consolidated in nature as fewer players are manufacturing the product owing to the high cost associated with terrazzo flooring. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Terrazzo Flooring market throughout the predicted period.
4m Group (United Kingdom), RBC Industries, Inc. (United States), Terrazzo Masters (United States), Concord Terrazzo Company, Inc. (United States), The Venice Art Terrazzo Co., Inc. (United States), Kingspan Group Plc (Ireland), Diespeker & Co. (United Kingdom), Krez Group (United States) and Quiligotti Terrazzo Tiles Limited (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Sherwin-Williams (United States) and David Allen Company, Inc. (United States).
Segmentation Overview
The study have segmented the market of Global Terrazzo Flooring market by Type (Epoxy Terrazzo and Cement-Based Terrazzo), by Application (Educational Institutions, Commercial Buildings, Government Buildings, Transport Infrastructure and Other) and Region with country level break-up.
On the basis of geography, the market of Terrazzo Flooring has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Terrazzo Flooring Market Dynamics:
Attributes | Details |
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Growth Drivers | - Growing Application of Terrazzo Flooring in Residential and Non-Residential Construction Activities
- Rising Focus towards Home Decor and Interior in High Income Group People
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Influencing Trends | - Increasing Remodeling and Renovation Activities for Residential Segment
- Emphasizing On Production of Durable and Easy To Maintain Terrazzo Flooring
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Restraints | - High Cost Associated With Terrazzo Flooring
- Fluctuating Raw Material Prizes
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Road Blocks / Challenges | - Availability of Other Flooring Alternative
- Development of Cost-Effective Terrazzo Flooring Material
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Gaps & Opportunities | - Rising Demand from Emerging Economies Owing To Growing Construction Infrastructure
- Increasing Inclination for Usage of Environmentally Friendly Flooring Material
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Market Leaders and their Expansionary Development Strategies
In 2016, Cork and rubber flooring firm Expanko, Inc. said it has acquired FritzTile, a national manufacturer of flexible terrazzo tile products.
On, 16 Feb 2020, BFT launches Magnum, large Terrazzo slabs. High-quality Bharat Terrazzo can achieve a look as stunning as the finest stone.The range is made up of handcrafted Terrazzo flooring that includes marble quartz, granite, glass or suitable chips, sprinkled and poured with a binder that is cementitious
American Society for Testing and Materials (ASTM) and American National Standards Institute (ANSI)
Key Target Audience
Manufacturers of Terrazzo Flooring, Suppliers of Terrazzo Flooring, Wholesalers, Distributors, and Retailers of Terrazzo Flooring, Construction Industry, Governmental Bodies, Research Laboratories, Market Research and Consulting Firms and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.