Polished Concrete Market Trends

Growth drivers

• Surge in the Development of Industrialization – Rapid industrialization of emerging economies is likely to increase the demand for polished concrete. Production in the industry in real terms was up by 3.5% on the previous month on a price, followed by the higher attractiveness of a building or facility in Wiesbaden.
• Demand for Sustainability and Construction Material: - The growth of this market is expected to be driven by a growing demand for sustainable and durable construction materials. Moreover, opportunities for market growth are envisaged as a result of government initiatives promoting environmentally friendly construction practices.
• Surge in Population and Basic Human Needs: - The growth of the polished concrete market is expected to be driven by rapid urbanization and the growing need for affordable housing. For instance, there are 55 % of the world's population lives in urban areas and the proportion is projected to rise to 68% by 2050.

Challenges

• Cost impact on the Industry- There is a degree of instability in raw material costs and energy used for the production of polished concrete. Raw material prices could increase as a result of fluctuating oil and gas prices, which would lead to an increase in the cost of cement, glue, or sealants that have been applied to the concrete. As a consequence of the increase in raw material costs, which is going to lead to an adverse impact on global market growth for solid surfaces, suppliers have raised prices or reduced their profit margins.
• Technical Barriers Affecting Industry
• High Competition Area