U.S. Terrazzo Market Is Projected To Grow At A CAGR Of 5.7% From 2022 To 2030
U.S. Terrazzo Industry Overview
The U.S. terrazzo market size is estimated at USD 8.25 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. The market is anticipated to be driven on account of the product’s high-performance characteristics, which include high durability, easy maintenance, impact resistance, negligible bacteria growth, and high stain resistance.
The COVID-19 pandemic severely impacted U.S. trade and restricted the growth of the construction industry. The inadequate availability of labor, funds and raw materials are the primary factors affecting the construction industry, thus hampering the market growth. However, the market is expected to grow at a faster pace with a lucrative recovery rate.
Gather more insights about the market drivers, restrains and growth of the U.S. Terrazzo market
The Government of the U.S. announced a COVID-19 relief stimulus of USD 1.9 trillion in January 2021, which is expected to add to the market recovery. Moreover, the steady growth of small market players in terrazzo products is anticipated to drive the U.S. terrazzo market over the forecast period.
Increasing consideration is given to green credentials such as Leadership in Energy and Environmental Design (LEED) in green homes, new construction, retail offices, hospitals, and schools in the U.S. owing to their ability to retain desired temperatures fuels the demand for green floors and green interiors such as terrazzo that are durable and use recycled materials.
Ceramic tile flooring is a major alternative to terrazzo flooring. The costs of ceramic tiles are lower than terrazzo flooring. The increased prices of terrazzo materials, tools, and labor lead to high installation costs of terrazzo flooring. The cost of this flooring can vary significantly based on the type of aggregate chosen by customers. Simple stone aggregates are reasonably priced.
Technological advancements in the flooring industry have led to the development of next-generation flooring systems, including terrazzo, that is witnessing surged demand in the U.S. owing to their unique long-lasting designs & finishing, chemical resistance, and low maintenance costs.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
- Precision Engineering Machines Market - The global precision engineering machines market size was valued at USD 11.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028.
- Flooring Adhesive Market - The global flooring adhesive market size was valued at USD 4.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028.
U.S. Terrazzo Market Segmentation
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; 2017 - 2030)
- Cement
- Sand Cushion
- Bonded
- Monolithic
- Polyacrylate
- Rustic
- Epoxy
U.S. Terrazzo Application Outlook (Volume, Million Square Feet; Revenue, USD Million; 2017 - 2030)
- Educational Buildings
- Commercial Buildings
- Institutional Buildings
- Transport Infrastructures
- Other Applications
Key Companies profiled:
Some prominent players in the U.S. terrazzo market include:
- Terrazzo USA
- Master Terrazzo Technologies Inc.
- Doyle Dickerson Terrazzo, Inc.
- The Venice Art Terrazzo Co., Inc.
- Krez Group, Inc.
- Terrazzo and Marble Supply
- Klein & Co Terrazzo
- Concord Terrazzo Company, Inc.
- American Terrazzo
- RBC Industries, Inc.
- F & M Tile & Terrazzo Co., Inc.
- Angelozzi Terrazzo
- Key Resin Company
- EnviroGLAS Products, Inc.
Order a free sample PDF of the U.S. Terrazzo Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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