The global market is expected to surpass a valuation of around US$ 2.16 Billion by 2032. The rapid expansion of the building and construction industry across the globe is a major factor pushing the demand for floor screeds. The global floor screeds market size is anticipated to create an absolute dollar opportunity throughout the forecast period from 2022 to 2032 by registering a CAGR of 5%.
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 and PC Flooring Ltd, among others
To satisfy customer demand, these floor-screed manufacturing businesses regularly release new products comprised of cutting-edge materials. To further increase its global reach, they have implemented expansion tactics such as joint ventures, mergers, acquisitions, mergers, and channel strengthening. For instance, a new low-carbon floor screed was introduced in 2021 by Betolar and Kiilto.
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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 2022 to 2032. 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.
Key Segments Profiled in the Floor Screeds Industry Survey
By Material Type:
- Cementitious screed
- Calcium sulphate screed
- Synthetic resin screed
By Screed Type:
- Bonded Screed
- Unbonded Screed
- Floating Screed
- Flowing Screeds
- Heated Screeds
By Floor Thickness:
- Less than 30mm
- 30mm to 60mm
- Above 60mm
By End Use:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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