U.S. Terrazzo Market Size, Share & Trend Analysis Report By Product (Cement, (Sand Cushion, Bonded, Monolithic, Polyacrylate, Rustic) Epoxy), By Application (Educational Buildings, Commercial Buildings), And Segment Forecasts, 2022 - 2030

Report 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.

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.

Product Insights

The epoxy segment led the market and accounted for more than 66% share of the total revenue in 2021. Epoxy terrazzo flooring systems are more durable and sustainable than cement terrazzo floors due to advancements in technology and the introduction of polymers. These are favored by construction professionals for meeting their sustainability and design goals.

Cement terrazzo contains a cement matrix and includes a variety of terrazzo systems, including rustic, sand cushion, bonded, monolithic, and polyacrylate systems. These systems are typically thicker and heavier than their epoxy counterparts due to the use of a cement-based mix with incorporated aggregates.

Bonded terrazzo is anticipated to gain importance in areas where customers require a glossy effect similar to marbles. The reusability and recyclability of the product are anticipated to fuel its demand shortly.

Monolithic terrazzo is a combination of marble chips, Portland cement, and water that is designed to be directly bonded to or integrated with a prepared concrete slab. This terrazzo type is often used in large areas such as schools and offices.

Application Insights

The educational buildings segment led the market and accounted for over 48.5% share of the total revenue in 2021. An increase in the number of universities, educational institutions, schools, and auditoriums in the U.S. is projected to be a key factor in the growing penetration of terrazzo in educational buildings in the country.

The construction of retail outlets for automobiles, fashion brands, lifestyle brands, etc. has contributed to the growth of the market. The designs of commercial buildings in the U.S. are anticipated to witness continuous changes. This is expected to lead to a transformation in the flooring designs of these buildings during the forecast period.

A surge in construction and renovation activities, along with increased retrofitting of institutional buildings in the U.S., is expected to contribute to a rise in demand for terrazzo flooring products over the forecast period. In addition, increasing emphasis on the use of green and eco-friendly terrazzo flooring is anticipated to lead to the growth of the market in the U.S.

Terrazzo is a perfect solution for transportation environments as it brightens the building area, adds aesthetic interest, and provides the durability required to handle heavy pedestrian traffic at high footfall places. Increasing investments in the transport infrastructures in the U.S. owing to rapid urbanization are expected to contribute to the demand for terrazzo in the country during the forecast period.

Key Companies & Market Share Insights

Players operating in the market compete largely based on product quality, customer service, and product pricing. However, product quality is considered the fundamental competing element by market players. Customer service is seen to be the most influential aspect for the players to sustain the competition. To meet the growing demand for terrazzo, prominent companies in the U.S. are working on creating a robust distribution network.

Technical advancements and improvements in the terrazzo production process have resulted in better durability, bespoke colors, and low care for terrazzo products. The product advantages over other forms of flooring include elegance and high-end aesthetics, which have increased market competition globally. Numerous domestic and foreign players are striving for dominance in the market. 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.

U.S. Terrazzo Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis on the industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. terrazzo market based on product and application:

• Product Outlook (Volume, Million Square Feet; Revenue, USD Million; 2017 - 2030)

  • Cement

    • Sand Cushion

    • Bonded

    • Monolithic

    • Polyacrylate

    • Rustic

  • Epoxy

• Application Outlook (Volume, Million Square Feet; Revenue, USD Million; 2017 - 2030)

  • Educational Buildings

  • Commercial Buildings

  • Institutional Buildings

  • Transport Infrastructures

  • Other Applications