The global floor screeds industry size is anticipated to create an absolute dollar opportunity throughout the forecast period from 2024 to 2034 by registering a CAGR of 6.0%. The global market is expected to surpass a valuation of around US$ 25,610.9 Million by 2034. The rapid expansion of the building and construction industry across the globe is a major factor pushing the demand for floor screeds.
Sand and cementitious materials are combined to form floor screeds, which are used in buildings. They are used to provide a smooth and level surface for the floor finish and are based on an appropriate mix design. They serve as a foundation for the floor finish and have a significant impact on how well it performs.
There are many different floor screeds kinds, including bonded screeds, unbonded screeds, flowing screeds, and floating screeds, which provide end users the choice to select any type based on their unique needs.
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Compelling Market Trends
Building and construction industries have seen strong growth recently due to the world’s rapidly expanding population and rising urbanization. Both rich and developing nations spend enormous sums of money every year on infrastructure projects. This is driving up demand for building supplies like floor screeds, and the trend is expected to last throughout the projection period.
The United Nations predicts that by 2030, there will be 8.5 billion people on the planet, and by 2050, there will be 9.7 billion. The demand for residential and commercial infrastructure would increase due to the fast rise in the global population, offering opportunities for market expansion in the floor screeds sector.
Growth Drivers
Unbonded screeds are applied on a water-resistant membrane that is placed on top of the concrete, whereas bonded screeds are put directly into the concrete base. In a similar vein, floating screeds are typically installed on top of an insulation layer, with a slip membrane covering it to keep the insulation separate from the screed.
Additionally, during the projection period, increasing disposable income, a movement in consumer taste toward more aesthetically pleasing buildings with great interiors, and high-quality flooring will all drive increased demand for floor screeds.
Restraints
Even though floor screeds are being used more frequently, the market for them is facing some growth barriers. These elements include fluctuating raw material prices and insufficient infrastructure development in several developing and underprivileged nations.
Competitive Landscape
Some of the leading manufacturers of floor screeds are
- Sika Group
- Longcliffe Quarries Ltd.
- Munster Floor Screed
- Cemex UK
- Base Concrete Company
- Rapid Readymix Concrete Limited
- EasyMix Concrete UK Ltd.
- Flowcrete Group Ltd.
- Tarmac
- Premier Floor Screed
- LKAB Minerals
- PC Flooring Ltd
Valuable Insights into the Floor Screeds Market
According to FMI, Asia Pacific currently accounts for a sizeable portion of the worldwide floor screeds market and is projected to expand at a substantially higher CAGR from 2024 to 2034. The rising building and infrastructure sectors are the main drivers of market growth in the Asia Pacific for floor screeds.
Some of the world’s most populous nations, such as China and India, are located in the Asia Pacific region. According to the United Nations Population Fund (UNFPA), the region is home to 4.3 billion people or 60% of the world’s population. Due to the region’s large population and fast urbanization, the building and construction sector is expanding, which makes it a prospective market for floor screeds.
Additionally, throughout the projection period, the rise in government-sponsored construction projects and rising customer preferences for enhancing the visual appeal of their homes would generate profitable possibilities for the floor screeds makers.
In North America, the floor screeds market is anticipated to expand at a rapid rate over the course of the forecast period due to the region’s rapid infrastructure development, rising government investments and initiatives, rising construction spending, and the region’s significant concentration of top floor screed manufacturing firms.
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