Tile And Terrazzo Contractors Global Market Report 2023

(MENAFN- globenewswire - nasdaq) new york, june 21, 2023 (globe newswire) -- reportlinker announces the release of the report "tile and terrazzo contractors global market report 2023" -
, florim usa inc., david allen company inc., imperial flooring systems inc., stone & terrazzo world inc., yorie tile & terrazzo inc, michielutti bros.inc, venable terrazzo company, and durite.
the global tile and terrazzo contractors market is expected to grow from $90.71 billion in 2022 to $98.37 billion in 2023 at a compound annual growth rate (cagr) of 8.4%. the russia-ukraine war disrupted the chances of global economic recovery from the covid-19 pandemic, at least in the short term. the war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. the tile and terrazzo contractors market is expected to reach $130.78 billion in 2027 at a cagr of 7.4%.
the tile and terrazzo contractors market include revenues earned by entities by providing services such as designing, planning, procuring, and installing porcelain, stone, or wood flooring onto buildings floors.the market value includes the value of related goods sold by the service provider or included within the service offering.
only goods and services traded between entities or sold to end consumers are included.
tile and terrazzo contractors are experts in the installation, maintenance, and other architectural aspects of different kinds of tile and terrazzo floors. the flooring material known as tile is constructed of ceramic, porcelain, glass, or stone, whereas terrazzo is a composite consisting of marble, quartz, or granite chips combined with cement or epoxy resin.
north america was the largest region in the tile and terrazzo contractors market in 2022. the regions covered in tile and terrazzo contractors report are asia-pacific, western europe, eastern europe, north america, south america, middle east and africa.
the main types of tile and terrazzo contractors are ceramic tile installation, mosaic work, mantel, marble or stone, installation, tile (except resilient) laying and setting, stone flooring installation, and marble, granite, and slate, interior installation contractors.ceramic tile installation refers to the process of laying and fixing tile manufactured using coarser clay with a smaller ratio of fine kaolin clay.
the work includes new work, additions, alterations, maintenance, and repairs done by large chain companies and independent contractors. the services are applied in educational institutions, commercial, government buildings, transport infrastructure, and others.
a rise in construction and renovation activities is expected to propel the growth of the tile and terrazzo contractors market going forward.tile and terrazzo laying is an important step in the construction and renovation of buildings.
it covers the floors of the buildings and enhances their aesthetic value and functionality, such as high durability and anti-slip.tile and terrazzo contractors install these tiles and terrazzo onto the new or old building floors.
for instance, according to the report on monthly construction spending released on march 2023 by the us. census bureau, a us-based principal agency of the us federal statistical system, estimated the total construction spending during january 2023 at $1,825.7 billion, a 5.7% rise from the january 2022 estimate of $1,726.6 billion. therefore, the rise in construction and renovation activities drives the tile and terrazzo contractors market.
technological advancements are a key trend in the tile and terrazzo contractors market.major players in the tile and terrazzo contractors sector are focused on developing new technologies to improve the functionality of their products, meet consumer demand and strengthen their market position.
for instance, in september 2022, daltile, a us-based tile company, launched the rekindle collection for porcelain tile incorporated with stepwise and microban technologies that provide two times more slip resistance than regular tile and eliminate 99% of bacteria on the tile surface. it is a modern terracotta that combines the rustic comfort of a soft concrete visual that helps to bring peace and harmony to the energy of a space.
in september 2022, spectra contract flooring, a us-based commercial flooring contractor part of diverzify company, acquired resource colorado for an undisclosed amount.this acquisition doubled spectra denver's portfolio, expanded its footprint, and fortified its base by acquiring a top-notch team with years of hands-on experience and knowledge, along with a wide range of product care services.
resource colorado is a us-based commercial flooring contractor.
the countries covered in the tile and terrazzo contractors market report are australia, brazil, china, france, germany, india, indonesia, japan, russia, south korea, uk, usa.
the market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in usd, unless otherwise specified).
the revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced.
the tile and terrazzo contractors market research report is one of a series of new reports that provides tile and terrazzo contractors market statistics, including tile and terrazzo contractors industry global market size, regional shares, competitors with a tile and terrazzo contractors market share, detailed tile and terrazzo contractors market segments, market trends and opportunities, and any further data you may need to thrive in the tile and terrazzo contractors industry. this tile and terrazzo contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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