U.S. Terrazzo Market Size, Share & Trend Analysis Report 2022-2030
August 12, 2022 from Research and Markets
The U.S. terrazzo market is expected to reach USD 13.47 billion by 2030, registering a CAGR of 5.6% from 2022 to 2030. Increasing demand for residential and commercial construction sectors on account of its high-performance characteristics such impact resistance, high durability, and negligible bacteria growth are expected to drive the market growth.
Terrazzo is considered to be inexpensive in the long term owing to its extremely low maintenance costs. However, its installation costs are higher than that of coatings, tiles, and polished concrete surfaces. Development of new generation flooring systems, software development to design customer-centric designs, and fully automatic concrete tile making to enhance the aesthetic appearance are some of the significant developments in the industry.
Ceramic has emerged as a substitute for terrazzo owing to its cost-effectiveness. However, in terms of floor finishing and beauty, terrazzo is the most preferred. Lower maintenance costs of terrazzo flooring than ceramic flooring is another advantage leading to the increased adoption of terrazzo flooring in the U.S.
U.S. Terrazzo Market Report Highlights
– Epoxy product segment accounted for USD 8,253.3 million in 2021 and is projected to grow at a CAGR of 5.7% from 2022 to 2030. The market is expected to be dominated by epoxy terrazzo as it provides an excellent flooring option that is resistant to common issues such as oil and chemical stains.
– Cement terrazzo is a conventional flooring system that is suited for external applications and renovation projects when there is no vapor barrier beneath the slab. This system is thicker and heavier than epoxy, although it has similar characteristics in terms of minimal maintenance needs and longevity.
– Epoxy terrazzo wins high ratings in terms of both, appearance and performance among all flooring options available in the U.S. for educational buildings. Moreover, renovation of existing government buildings is expected to drive the product demand.
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