U.S. Terrazzo Market To Generate Revenue of $1.47 Billion By 2024: Grand View Research, Inc.
The U.S. terrazzo market is expected to reach USD 1.47
billion by 2024, according to a new report by Grand View Research, Inc.
Development of new generation flooring system, fully automatic concrete tile
making, software development to design sustainable & customer-centric
designs, and monitoring systems to enhance distribution & contracting
services are some of the significant developments in the U.S. industry. The
shift in consumption trend towards customized flooring system designs is also
expected to drive the domestic market over the forecast period.
Technology is playing an important role across the
value chain. From raw material to end-use customers, technological advancements
are helping to upgrade the services, which in turn is expected to make customer
service more effective and efficient in the near future.
Epoxy is the most widely used product segment and
accounted for over 60% of total market volume in 2015. The product is limited
to indoor application owing to environmental concerns, such as UV exposure,
associated with the product. Rustic and polyacrylate, on the other hand, are
recommended for outdoor areas as they are hard and can withstand adverse
environmental conditions. Such factors are anticipated to balance the overall
demand in the near future.
Full
Research Report On U.S. Terrazzo Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/us-terrazzo-market
www.grandviewresearch.com/industry-analysis/us-terrazzo-market
Further
key findings from the study suggest:
- The U.S. terrazzo market volume was 297.4
million sq. ft. in 2015 and is expected to reach 434.3 million sq. ft. by
2024, growing at a CAGR of 4.3% from 2016 to 2024
- Educational sector dominated the application
segment and accounted for over 45% of total market volume in 2015. The
increase in the number of educational institutes, universities,
auditoriums and schools in the U.S. is expected to remain a key factor for
higher penetration of terrazzo in this sector. The segment is also
expected to witness the highest growth of 4.6% over the forecast period.
- Terrazzo used in commercial buildings is
expected to reach a market worth over USD 200 million by 2024
- Key companies include Terrazzo USA &
Associates, Doyle Dickerson Terrazzo, Inc., The Venice Art Terrazzo Co.,
Inc., Klein & Company, Inc. Terrazzco, H.B. Fuller Construction
Products, RBC Industries, Sherin Williams, David Allen Company, EnviroGLAS
Products, Inc. and Key Resin Co.
- Key companies are anticipated to expand their
presence in the North & South America, Europe, and Asia Pacific.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the U.S. Terrazzo market based on
product and application:
U.S.
Terrazzo Product Outlook (Volume, Million Square Feet, Revenue, USD Million,
2016 - 2024)
- Cement
- Epoxy
- Sand
Cushion
- Bonded
- Monolithic
- Polyacrylate
- Rustic
U.S.
Terrazzo Application Outlook (Volume, Million Square Feet, Revenue, USD
Million, 2016 - 2024)
- Educational
- Commercial
- Government
Buildings
- Transport
- Others
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/us-terrazzo-market-analysis
www.grandviewresearch.com/press-release/us-terrazzo-market-analysis
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For More
Information: www.grandviewresearch.com
Comments
Post a Comment