Canada Terrazzo Flooring Market Outlook - 2025
The Canada terrazzo flooring market size was valued at $65,500 thousand in 2017, and is projected to reach $93,039 thousand in 2025, growing at a CAGR of 4.3%. The epoxy terrazzo segment accounted for more than two-thirds of the market share in 2017, and is expected to witness significant growth during the Canada terrazzo flooring market forecast period.
Terrazzo is a type of hard surface flooring, which is fabricated by using an epoxy matrix or cement matrix composite to bind aggregates such as marble pieces, glass pieces, or other suitable material. Increase in demand for flooring across Canada due to rise in construction propels the growth of the Canada terrazzo flooring industry. In addition, improved finish offered by these floorings enhances the aesthetics and makes the room look spacious, thereby propelling the growth of the market. Terrazzo comprises of chips of marble, stone, or glass. With this fusion, producers create an entirely personalized design according to customer preferences for flooring. Terrazzo flooring is inarguably attractive and can be customized in many colors, qualities, and styles. In addition, terrazzo flooring is both robust and stable, offers beauty, ease of cleaning, and value of terrazzo, and enables a look of spaciousness, wherever it is installed. However, high initial cost and high cost of laying tiles are anticipated to restrain the Canada terrazzo flooring market growth. Further, there is also threat of substitute products which are low in cost such as luxury vinyl tiles, ceramic tiles, wooden flooring, marbles, and others. Moreover, the installation of terrazzo flooring requires skilled workmen, hence is not suitable for do-it-yourself (DIY) customers.
The Canada terrazzo flooring market is segmented based on type and application. Based on type, the market is categorized into Epoxy terrazzo and cement-based terrazzo.
The epoxy terrazzo is expected to hold maximum market share, growing at the highest CAGR during the Canada Terrazzo flooring market forecast period, owing to various benefits offered by it such as low maintenance costs and easy installation laying of tiles as compared to cement terrazzo. Epoxy Terrazzo uses an epoxy matrix such as epoxy resin composite to bind the aggregates such as marble pieces and glass pieces. It is one of the best thin-set flooring system. This flooring system has an installation thickness of only 1⁄4″ to 3/8″ above the concrete slab, which signifies that it is lighter in weight than other terrazzo flooring systems.
The Canada terrazzo flooring market is segmented based on type and application. Based on type, the market is divided into epoxy terrazzo and cement-based terrazzo. Based on application, transport infrastructure, educational institutions, commercial, government buildings, and others.
Key players profiled in Canada terrazzo flooring market study are Centura Tile, Domus Terrazzo Supply Co. ULC, Flesher Marble & Tile, Key Resin Company, Kingspan Group plc, Sika AG, Tarkett S.A, Terrazzo & Marble Supply Companies, The Sherwin-Williams Company, and Twin City Tile Co. Ltd.
Growth in construction industry
A notable rise in the residential and non-residential construction activities positively impact the market and is expected to further drive its growth. Construction industry is one of the major industries contributing to GDP of Canada. Similarly, there is growth in the commercial construction sector. Thus, the rise in construction projects across Canada is estimated to drive the growth of the Canada terrazzo flooring market.
Growth in focus toward sustainability
One of the major reasons why terrazzo has reemerged in the flooring market is because it enables architects and designers meet the requirements for Leadership in Energy and Environmental Design (LEED) certification. Terrazzo comprises of recycled aggregates such as recycled glass pieces, marble chips, and others, which largely reduces pricing. LEED is the one of the most widely used green building rating system in the world. It provides a framework to create healthy, highly efficient and cost-saving green buildings. Canada is one of the global leaders in this field. This is due to high importance of sustainability in Canada. Further, several startups and other prominent businesses are focusing greatly toward manufacturing sustainable and zero-waste terrazzo floorings. Hence, this will propel the growth of Canada terrazzo flooring market.
Wide range of benefits offered
The terrazzo flooring offers a broad range of benefits, such as elegancy, durability, and high-end aesthetics, over other types of flooring, and hence, is coming back in trend. Terrazzo comprises of chips of marble, stone, or glass. With this fusion, producers create an entirely personalized design according to customer preferences for flooring. Terrazzo flooring is inarguably attractive and can be customized in many colors, qualities, and styles. In addition, terrazzo flooring is both robust and stable, offers beauty, ease of cleaning, and value of terrazzo, and enables a look of spaciousness, wherever it is installed. In addition, these floors escalate the value of the property, are a great long-term investment, and are unique and elegant floor option. Moreover, they are quite suitable for high-traffic areas. All these benefits offered by the terrazzo flooring are estimated to contribute towards the growth of the Canada Terrazzo flooring market.
High purchase and installation cost of terrazzo flooring
The cost of terrazzo flooring materials or tiles as well as installation is high, which further increases the price for terrazzo for end consumers. The cost of terrazzo floors (materials) depends upon various factors such as design and material. This cost is quite higher than its substitute, such as vinyl tiles.
In addition, the cost to install terrazzo floors is also high, which further depends upon complexity. Therefore, the high purchase and installation cost of terrazzo flooring is expected to hamper the growth of the Canada Terrazzo flooring market during the forecast period.
Threat of substitute products
Substitutes of terrazzo flooring, such as luxury vinyl tiles, ceramic tiles, wooden flooring, marbles, and others, pose a large threat to the terrazzo flooring market. Terrazzo as a material is difficult to install, and is cold and hard, and tougher to stand on for a prolonged duration of time. Hence, this flooring is not apt for walking barefoot for a long time. In addition, the substitute products are less costly as compared to terrazzo. Moreover, the installation of terrazzo flooring requires skilled workmen, hence is not suitable for do-it-yourself (DIY) customers. Hence, materials such as vinyl, ceramic tiles, wooden flooring, marbles, and others for flooring restrain the growth of the Canada terrazzo flooring market.
Key Benefits for Canada Terrazzo Flooring Market:
- This study presents the analytical depiction of the Canada terrazzo flooring market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market growth and opportunity is determined by understanding the profitable Canada terrazzo flooring market trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the Canada terrazzo flooring market with a detailed impact analysis.
- The current Canada terrazzo flooring market is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Canada Terrazzo Flooring Market Key Segments:
By Type
- Epoxy Terrazzo
- Cement-based Terrazzo
By Application
- Transport Infrastructure
- Educational Institutions
- Commercial
- Government Buildings
- Others
Key Canada Terrazzo Flooring Manufacturers
- Centura Tile
- Domus Terrazzo Supply Co. ULC
- Flesher Marble & Tile
- Key Resin Company
- Kingspan Group plc
- Sika AG, Tarkett S.A
- Terrazzo & Marble Supply Companies
- The Sherwin-Williams Company
- Twin City Tile Co. Ltd.
Canada Terrazzo Flooring Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By APPLICATION |
|
 Key Market Players | TWIN CITY TILE CO. LTD., KEY RESIN COMPANY (KEY RESIN CANADA), FLESHER MARBLE & TILE, SIKA AG (SIKA CANADA INC.), TARKETT S.A (TARKETT USA & CANADA), CENTURA TILE, DOMUS TERRAZZO SUPPLY CO. ULC, KINGSPAN GROUP PLC. (TATE ASP ACCESS FLOORS INC.), TERRAZZO & MARBLE SUPPLY COMPANIES, THE SHERWIN-WILLIAMS COMPANY (SHERWIN-WILLIAMS CANADA INC.) |
Analyst Review
Terrazzo is a type of hard surface flooring, which is fabricated by using an epoxy matrix or cement matrix composite to bind aggregates such as marble pieces, glass pieces, or other suitable materials. Increase in demand for flooring due to rise in construction projects across Canada propels the growth of the terrazzo flooring market in Canada. In addition, improved finish offered by these floorings enhances the aesthetics and makes the room look spacious, thereby propelling the growth of the market. However, high initial cost and high cost of laying tiles are anticipated to restrain the market growth. Further, there is also threat of substitute products which are low in cost such as such as luxury vinyl tiles, ceramic tiles, wooden flooring, marbles, and others. Moreover, the installation of terrazzo flooring requires skilled workmen, hence is not suitable for do-it-yourself (DIY) customers.
Based on application, the educational institutions segment is expected to account for the largest share in the market during the forecast period, due to increase in number of educational institutes, universities, auditoriums, and schools in Canada. Educational institutions require a floor, which is rugged enough to endure the rolling and foot traffic that a major institution incurs. Terrazzo floors are one of the best choices for installation in educational institutions owing to the capability to sustain high traffic. Over the last few years, terrazzo is gaining traction in educational institutions as they can be easily customized and can be created into innovative and unique designs.
Depending on type, epoxy terrazzo is expected to hold maximum market share, growing at the highest CAGR during the forecast period, owing to various benefits such as low maintenance costs and easy installation of tiles as compared to cement terrazzo. Epoxy terrazzo uses an epoxy matrix such as epoxy resin composite to bind the aggregates such as marble pieces and glass pieces. It is one of the best thin-set flooring system. This flooring system has an installation thickness of only 1⁄4″ to 3/8″ above the concrete slab, which signifies that it is lighter in weight than other terrazzo flooring systems.
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