Technavio analysts forecast the global self-leveling concrete market to grow at a CAGR of nearly 5% during the forecast period, according to their latest market research report.
The rising demand for decorative concrete is one of the major trends being witnessed in the global self-leveling concrete market 2018-2022. The growing demand for decorative concrete in residential and non-residential buildings is projected to drive market growth. Self-leveling concrete is primarily used for flooring to enhance the aesthetics and texture of the floor. It is used in terrazzo flooring for incorporating different geometrical patterns and shapes such as borders, arcs, pathways, and titles.
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According to Technavio analysts, one of the key factors contributing to the growth of the global self-leveling concrete market is the increase in demand from developing countries:
Global self-leveling concrete market: Increase in demand from developing countries
Developing economies such as India, China, Brazil, Mexico, the Philippines, and Indonesia are augmenting the demand for self-leveling concrete. In APAC, the increase in residential and non-residential construction activities is expected to fuel the demand for self-leveling concrete. Factors such as the availability of raw materials, land, and low-cost labor; low transportation costs; and less stringent government regulations and policies are driving the self-leveling concrete vendors to shift their manufacturing activities to these countries.
According to a senior analyst at Technavio for research on specialty chemicals, The emergence of China and India as manufacturing hubs for the construction industry is also expected to drive the demand for self-leveling concrete. Moreover, the migration of people to cities in search of employment, amenities, and improved standard of living has resulted in an increase in investment by the government into the housing industry.
Global self-leveling concrete market: Segmentation analysis
The global self-leveling concrete market research report provides market segmentation by product (underlayment and toppings), by end-user (commercial and residential), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The commercial segment held the largest market share in 2017, accounting for nearly 71% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 38%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
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Five Forces Analysis
- Regional comparison
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- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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