Polished concrete floors are used to make dull-looking concrete floors bright, polished, shiny, and attractive. These are used to convert a concrete floor surface and bring it to a unified level by removing stains or any rough or uneven surface. The floor is first polished with a coarse grit abrasive disc, then polished with a fine grit abrasive disc, which gives the floor a glossy and sleek look, and finally polishing is done by concrete grinder with an extra-fine grit abrasive disc on the entire surface. Polished concrete is being used instead of conventional floor coverings because of its aesthetic and attractive look. This process can be done by two methods, which are, dry and wet methods. The dry method is preferred because it is environment-friendly and thus less hazardous for the people working in the field during the process. Also, the dry method is cost-effective, shinier, and appropriate for small and large open areas. Polished concrete floors are required in housing sectors, stores, hotels, and restaurants.

Market Scope and Structure Analysis

COVID-19 Impact Analysis

• COVID-19 pandemic has shut down the production of polished concrete attributed to the lockdown in countries worldwide this has hampered the growth of Polished Concrete from the last few months and is likely to continue during 2021
• COVID-19 has already affected the sales of polished concrete in the second and third quarter of 2020 and is anticipated to grow in year 2021.
• The major demand for polished concrete was previously noticed from countries including the U.S., Germany, Italy, UK, and China which are negatively affected by the spread of the coronavirus thereby declining the demand for polished concrete.
• Further potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves polished concrete manufacturers can afford a full lockdown only for a few months after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the covid-19 health crisis.
• Polished concrete manufacturers are expected to focus on protecting their workforce operations and supply chains to respond to ward immediate crisis and find new ways of working after COVID-19 for instance provision of sanitizers maintaining social distancing as well as ensuring the vaccination of every employee in the company can assist in promoting the health and safety of the workforce.

Top Impacting Factors

A lot of people are shifting from rural areas to urban areas due to urabanization, which increases the need for residential buildings and thus surges the demand for polished concrete floor because of its attractive and glossy look. Polished concrete is a toxic-free flooring system and so it is preferred over conventional flooring systems. Polished concrete impacts the environment adversely and as people are concerned and aware about environmental issues. This is expected to restrain the polished concrete market growth to some extent. Also, because of lockdown, shortage of labour, restrictions in movement of people, the construction activities got hindered, hence limiting the market growth.

Market trends

• In March, 2021, DriTac was acquired by Sika AG, this acquisition will ensure expansion of market for Sika AG industry.
• In 2019, China approved to invest in construction of 26 infrastructure projects. This huge investment for construction will ultimately drive the polished concrete market.

Key Segments Covered

Market by Product

• Densifiers & Hardeners
• Sealers & Crack Fillers
• Conditioners

Market by End-use Industry

• Residential
• Commercial
• Industrial
• Institutional

Market by Method

• Dry
• Wet

Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Argentina
  • GGC
  • South Africa
  • Rest of LAMEA

Key Benefits of the Report

• This study presents the analytical depiction of the polished concrete along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the polished concrete market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the polished concrete market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed polished concrete market analysis based on competitive intensity and how the competition will take shape in coming years