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Canada Terrazzo Flooring Market by Type (Epoxy Terrazzo and Cement-based Terrazzo) and Application (Transport Infrastructure, Educational Institutions, Commercial, Government Buildings, and Others): Opportunity Analysis and Industry Forecast, 2018–2025

CM_195278
Pages: 93
May 2019 | 1030 Views
 
Author(s) : Rohit Sawant , Onkar Sumant
Tables: 43
Charts: 20
 

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.

Canada Terrazzo Flooring Market

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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.

Canada Terrazzo Flooring Market by Type

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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.

Canada Terrazzo Flooring Market by Application

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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.
 

CHAPTER 1:    INTRODUCTION

1.1.    Report description
1.2.    Key benefits for stakeholders
1.3.    Key market segments
1.4.    Key Market Player
1.5.    Research methodology

1.5.1.    Secondary research
1.5.2.    Primary research
1.5.3.    Analyst tools & models

CHAPTER 2:    EXECUTIVE SUMMARY

2.1.    Key Findings:
2.2.    CXO perspective

CHAPTER 3:    MARKET OVERVIEW

3.1.    Market definition and scope
3.2.    Key findings

3.2.1.    Top investment pockets

3.3.    Porter's five forces analysis
3.4.    Market share analysis (2017)
3.5.    Market dynamics

3.5.1.    Drivers

3.5.1.1.    Growth in construction industry
3.5.1.2.    Growth in focus toward sustainability
3.5.1.3.    Wide range of benefits offered

3.5.2.    Restraints

3.5.2.1.    High purchase and installation cost of terrazzo flooring
3.5.2.2.    Threat of substitute products

3.5.3.    Opportunities

3.5.3.1.    Higher creativity and increased design flexibility
3.5.3.2.    The green image of terrazzo flooring

CHAPTER 4:    TERRAZZO FLOORING MARKET, BY TYPE

4.1.    Market overview

4.1.1.    Market size and forecast, by type
4.1.2.    Market volume and forecast, by type

4.2.    Epoxy terrazzo

4.2.1.    Key market trends, growth factors and opportunities
4.2.2.    Market size and forecast
4.2.3.    Market volume and forecast

4.3.    Cement-based terrazzo

4.3.1.    Key market trends, growth factors and opportunities
4.3.2.    Market size and forecast
4.3.3.    Market volume and forecast

CHAPTER 5:    TERRAZZO FLOORING MARKET, BY APPLICATION

5.1.    Market overview

5.1.1.    Market size and forecast, by application
5.1.2.    Market volume and forecast, by application

5.2.    Educational institutions

5.2.1.    Key market trends, growth and opportunities
5.2.2.    Market size and forecast
5.2.3.    Market volume and forecast

5.3.    Commercial

5.3.1.    Key market trends, growth and opportunities
5.3.2.    Market size and forecast
5.3.3.    Market size and forecast

5.4.    Government buildings

5.4.1.    Key market trends, growth and opportunities
5.4.2.    Market size and forecast
5.4.3.    Market volume and forecast

5.5.    Transport infrastructure

5.5.1.    Key market trends, growth and opportunities
5.5.2.    Market size and forecast
5.5.3.    Market volume and forecast

5.6.    Others

5.6.1.    Key market trends, growth and opportunities
5.6.2.    Market size and forecast
5.6.3.    Market volume and forecast

CHAPTER 6:    COMPANY PROFILES

6.1.    CENTURA TILE

6.1.1.    Company overview
6.1.2.    Company snapshot
6.1.3.    Product portfolio

6.2.    DOMUS TERRAZZO SUPPLY CO. ULC

6.2.1.    Company overview
6.2.2.    Company snapshot
6.2.3.    Product portfolio

6.3.    FLESHER MARBLE & TILE

6.3.1.    Company overview
6.3.2.    Company snapshot
6.3.3.    Product portfolio

6.4.    KEY RESIN COMPANY (KEY RESIN CANADA)

6.4.1.    Company overview
6.4.2.    Company snapshot
6.4.3.    Operating business segments
6.4.4.    Product portfolio

6.5.    KINGSPAN GROUP PLC. (TATE ASP ACCESS FLOORS INC.)

6.5.1.    Company overview
6.5.2.    Company snapshot
6.5.3.    Operating business segments
6.5.4.    Product portfolio
6.5.5.    Business performance

6.6.    SIKA AG (SIKA CANADA INC.)

6.6.1.    Company overview
6.6.2.    Company snapshot
6.6.3.    Operating business segments
6.6.4.    Product portfolio
6.6.5.    Business performance

6.7.    TARKETT S.A (TARKETT USA & CANADA)

6.7.1.    Company overview
6.7.2.    Company snapshot
6.7.3.    Operating business segments
6.7.4.    Product portfolio
6.7.5.    Business performance

6.8.    TERRAZZO & MARBLE SUPPLY COMPANIES

6.8.1.    Company overview
6.8.2.    Company snapshot
6.8.3.    Product portfolio

6.9.    THE SHERWIN-WILLIAMS COMPANY (SHERWIN-WILLIAMS CANADA INC.)

6.9.1.    Company overview
6.9.2.    Company snapshot
6.9.3.    Operating business segments
6.9.4.    Product portfolio
6.9.5.    Business performance

6.10.    TWIN CITY TILE CO. LTD.

6.10.1.    Company overview
6.10.2.    Company snapshot
6.10.3.    Product portfolio

LIST OF TABLES

TABLE 01.    CANADA TERRAZZO FLOORING MARKET REVENUE, BY TYPE, 2017-2025 ($THOUSAND)
TABLE 02.    CANADA TERRAZZO FLOORING MARKET VOLUME, BY TYPE, 2017-2025 (THOUSAND SQ. FT.)
TABLE 03.    CANADA TERRAZZO FLOORING MARKET REVENUE FOR EPOXY TERRAZZO, 2017-2025 ($THOUSAND)
TABLE 04.    CANADA TERRAZZO FLOORING MARKET VOLUME FOR EPOXY TERRAZZO, 2017-2025 (THOUSAND SQ. FT.)
TABLE 05.    CANADA TERRAZZO FLOORING MARKET REVENUE FOR CEMENT-BASED TERRAZZO, 2017-2025 ($THOUSAND)
TABLE 06.    CANADA TERRAZZO FLOORING MARKET VOLUME FOR CEMENT-BASED TERRAZZO, 2017-2025 (THOUSAND SQ. FT.)
TABLE 07.    CANADA TERRAZZO FLOORING MARKET REVENUE, BY APPLICATION, 2017-2025 ($THOUSAND)
TABLE 08.    CANADA TERRAZZO FLOORING MARKET VOLUME, 2017-2025 (THOUSAND SQ. FT.)
TABLE 09.    CANADA TERRAZZO FLOORING MARKET VALUE FOR EDUCATIONAL INSTITUTIONS, 2017-2025 ($THOUSAND)
TABLE 10.    CANADA TERRAZZO FLOORING MARKET VOLUME FOR EDUCATIONAL INSTITUTIONS, 2017-2025 (THOUSAND SQ. FT.)
TABLE 11.    CANADA TERRAZZO FLOORING MARKET REVENUE FOR COMMERCIAL, 2017-2025 ($THOUSAND)
TABLE 12.    CANADA TERRAZZO FLOORING MARKET VOLUME FOR COMMERCIAL, 2017-2025 (THOUSAND SQ. FT.)
TABLE 13.    CANADA TERRAZZO FLOORING MARKET REVENUE FOR GOVERNMENT BUILDINGS, 2017-2025 ($THOUSAND)
TABLE 14.    CANADA TERRAZZO FLOORING MARKET VOLUME FOR GOVERNMENT BUILDINGS, 2017-2025 (THOUSAND SQ. FT.)
TABLE 15.    TERRAZZO FLOORING MARKET REVENUE FOR TRANSPORT INFRASTRUCTURE, 2017-2025 ($THOUSAND)
TABLE 16.    TERRAZZO FLOORING MARKET VOLUME FOR TRANSPORT INFRASTRUCTURE, 2017-2025 (THOUSAND SQ. FT.)
TABLE 17.    TERRAZZO FLOORING MARKET REVENUE FOR OTHERS, 2017-2025 ($THOUSAND)
TABLE 18.    TERRAZZO FLOORING MARKET VOLUME FOR OTHERS, 2017-2025 (THOUSAND SQ. FT.)
TABLE 19.    CENTURA TILE: COMPANY SNAPSHOT
TABLE 20.    CENTURA TILE: PRODUCT PORTFOLIO
TABLE 21.    DOMUS TERRAZZO SUPPLY CO. ULC : COMPANY SNAPSHOT
TABLE 22.    DOMUS TERRAZZO SUPPLY CO. ULC : PRODUCT PORTFOLIO
TABLE 23.    FLESHER MARBLE & TILE: COMPANY SNAPSHOT
TABLE 24.    FLESHER MARBLE & TILE: PRODUCT PORTFOLIO
TABLE 25.    KEY RESIN COMPANY: COMPANY SNAPSHOT
TABLE 26.    KEY RESIN COMPANY: PRODUCT CATEGORY
TABLE 27.    KEY RESIN COMPANY: PRODUCT PORTFOLIO
TABLE 28.    KINGSPAN GROUP PLC: COMPANY SNAPSHOT
TABLE 29.    KINGSPAN GROUP PLC: OPERATING SEGMENTS
TABLE 30.    KINGSPAN GROUP PLC: PRODUCT PORTFOLIO
TABLE 31.    SIKA AG: COMPANY SNAPSHOT
TABLE 32.    SIKA AG: OPERATING SEGMENTS
TABLE 33.    SIKA AG: PRODUCT PORTFOLIO
TABLE 34.    TARKETT S.A: COMPANY SNAPSHOT
TABLE 35.    TARKETT S.A: OPERATING SEGMENTS
TABLE 36.    TARKETT S.A: PRODUCT PORTFOLIO
TABLE 37.    TERRAZZO & MARBLE SUPPLY COMPANIES: COMPANY SNAPSHOT
TABLE 38.    TERRAZZO & MARBLE SUPPLY COMPANIES: PRODUCT PORTFOLIO
TABLE 39.    THE SHERWIN-WILLIAMS COMPANY: COMPANY SNAPSHOT
TABLE 40.    THE SHERWIN-WILLIAMS COMPANY: OPERATING SEGMENTS
TABLE 41.    THE SHERWIN-WILLIAMS COMPANY: PRODUCT PORTFOLIO
TABLE 42.    TWIN CITY TILE CO. LTD.: COMPANY SNAPSHOT
TABLE 43.    TWIN CITY TILE CO. LTD.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.    CANADA TERRAZZO FLOORING MARKET, 2017-2025 ($THOUSAND)
FIGURE 02.    CANADA TERRAZZO FLOORING MARKET: KEY PLAYERS
FIGURE 03.    TOP INVESTMENT POCKETS
FIGURE 04.    LOW-TO-MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05.    MODERATE-TO-HIGH BARGAINING POWER OF BUYERS
FIGURE 06.    MODERATE-TO-HIGH THREAT OF SUBSTITUTES
FIGURE 07.    MODERATE-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 08.    MODERATE-TO-HIGH COMPETITIVE RIVALRY
FIGURE 09.    MARKET SHARE ANALYSIS, 2017 (%)
FIGURE 10.    DRIVERS, RESTRAINTS: CANADA TERRAZZO FLOORING MARKET
FIGURE 11.    KINGSPAN GROUP PLC: REVENUE, 2016–2018($MILLION)
FIGURE 12.    KINGSPAN GROUP PLC: REVENUE SHARE BY SEGMENT, 2018(%)
FIGURE 13.    KINGSPAN GROUP PLC: REVENUE SHARE BY REGION, 2018(%)
FIGURE 14.    SIKA AG: REVENUE, 2016–2018 ($MILLION)
FIGURE 15.    SIKA AG: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 16.    TARKETT S.A: REVENUE, 2016–2018 ($MILLION)
FIGURE 17.    TARKETT S.A: REVENUE SHARE BY SEGMENT, 2018(%)
FIGURE 18.    TARKETT S.A: REVENUE SHARE BY REGION, 2018(%)
FIGURE 19.    THE SHERWIN-WILLIAMS COMPANY: REVENUE, 2016–2018 ($MILLION)
FIGURE 20.    THE SHERWIN-WILLIAMS COMPANY: REVENUE SHARE BY SEGMENT, 2018 (%)

 
 

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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