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The global terrazzo flooring market size was approximately USD 24.81 billion in 2023. The market is assessed to grow at a CAGR of 3.3% between 2024 and 2032, reaching a value of USD 33.59 billion by 2032.
Terrazzo is a durable, attractive, and long-lasting building material which is composed of various minerals like quartz chips, marble, and granite set into cement. It can be used for designing the walls, floors, and outdoor verandas of homes, thereby imparting a unique colour and feel to the final product. It was earlier used in Egyptian mosaics but became popular in 16th century Italy when artisans had to craft designs on stone offcuts. It is a relatively cheaper alternative to granite and marble.
Based on product type, the terrazzo flooring market segmentation includes cement and epoxy. Cement is sub-divided by type into sand cushion, bonded, monolithic, polyacrylate, and rustic. By application, the market is categorised into commercial and residential.
The major regional markets for terrazzo flooring include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global terrazzo flooring market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
As per the terrazzo flooring market analysis, epoxy floorings are extremely popular among both residential and commercial spaces. This is because they are stronger and more durable as compared to cement terrazzo and have a high level of gloss finish. They are also suited for crafting multicolour designs and patterns since their resin matrix can match the colour of any pigment. This provides the flexibility to change shapes and sizes in interior décor and enhance the aesthetic appeal of any place.
Meanwhile, cement floorings have many unique terrazzo systems like sand cushion, bonded, monolithic, rustic, and polyacrylate. Their main advantage lies in their strength to resist UV ray exposure, which is absent in epoxy terrazzo. This makes them suitable for exterior applications since they come in classic designs and have less susceptibility to cracking.
The Asia Pacific is expected to account for a significant terrazzo flooring market share due to the expansion of the commercial sector which primarily installs terrazzo flooring systems to make the interiors aesthetically appealing. Moreover, with a shift towards sustainability and the growing emphasis on the choice of flooring material to reduce environmental impact, the demand for terrazzo is expected to increase, as it is an ecofriendly material and helps in reducing carbon emissions.
Meanwhile, North America is also expected to be a key market for terrazzo flooring as the demand for trendy designs and durable materials gains momentum in the region. On the other hand, in Europe the demand for low maintenance flooring solutions with higher recycled content is expected to drive the market’s growth.
Hal Mann Vella Limited was established in 1954 and is headquartered in Lija, Malta. It is among the leading providers of natural stone products, including marble, granite, travertine, and onyx, among others. The company’s highly innovative architectural team can install various products in homes and commercial spaces while using the latest digital equipment. The company is also involved in the construction and development of high-end properties in several countries.
Concord Terrazzo Company, Inc. was established in 2010 and is headquartered in North Carolina, the United States. It is a single source company that aims at creating products that are easy to install for architects and reduce project time. It provides a wide range of services to building designers like epoxy resin manufacturing, aggregate crushing and supply, and precast terrazzo fabrication, among others.
Diespeker Terrazzo and Marble Ltd was founded in 1881 in the United Kingdom. It supplies and installs terrazzo and other high-quality stones for commercial and residential building floorings. Their services comprise of site surveys, technical support, and supply and installation facilities with aftercare packages as well. Oxford University, Royal Academy, and London Coliseum have been their key beneficiaries.
Other terrazzo flooring market players include Nurazzo LLC, Quiligotti Terrazzo Tiles Ltd., RBC Industries, Inc., Key Resin Company, Master Terrazzo Technologies, Inc., Venice Art Terrazzo Co., Inc., and Angelozzi Precast Terrazzo Products, LLC, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Application |
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Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
In 2023, the market reached an approximate value of USD 24.81 billion.
The market is estimated to grow at a CAGR of 3.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 33.59 billion by 2032.
The market is being driven by the rapid expansion of flooring sector, the growing demand for multicolour designs in interior décor, and the rising requirement for long-lasting flooring solutions.
The key trends aiding the market expansion include increase in demand for epoxy terrazzo, low overall maintenance cost of terrazzo floorings, and increased preference for sustainable flooring solutions.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of terrazzo flooring are residential and commercial.
The major players in the market are Hal Mann Vella Limited, Concord Terrazzo Company, Inc., Diespeker Terrazzo and Marble Ltd, Nurazzo LLC, Quiligotti Terrazzo Tiles Ltd., RBC Industries, Inc., Key Resin Company, Master Terrazzo Technologies, Inc., Venice Art Terrazzo Co., Inc., and Angelozzi Precast Terrazzo Products, LLC, among others.
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