Growing Demand for Synthetic Resin Screed in Residential and Construction Sector to Surge Floor Screed Market at a CAGR of 6.0% by 2034

The United States floor screed market is projected to reach US$ 2,461 million by 2034. Over the assessment period, demand for floor screed in the United States is set to rise at 4.3% CAGR. The adaptability and durability of synthetic resin screeds make them a desirable choice in the United States, fueling steady growth and market expansion.

NEWARK, Del, April 18, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global floor screed market value is expected to increase from US$ 14,231.7 million in 2024 to US$ 25,610.9 million by 2034. The market is projected to surge at a CAGR of 6.0% by 2034.

The increasing construction activity worldwide is the key factor contributing to the floor screed market growth. The need for dependable, high-quality flooring solutions is surging due to the fast urbanization, population growth, and infrastructure development projects in developed and emerging economies.

The demand for floor screed is anticipated to be fueled by technological developments and advancements in the construction industry. Floor screed performance features, like strength, durability, and application ease, are always being enhanced by manufacturers through research and development. It is anticipated that introducing eco-friendly formulations, self-leveling, and quickly drying floor screeds would expand the market and draw in more consumers.

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Sustainable and energy-efficient construction solutions are becoming increasingly popular as governments impose more stringent environmental laws and green building standards worldwide. Producers are poised to benefit from this trend and get a competitive edge in the market by providing sustainable floor screed solutions, such as those derived from recycled materials or with reduced carbon footprints.

Key Takeaways from the Report

  • The global market for floor screed is projected to thrive at 6.0% CAGR through 2034.
  • By material type, the synthetic resin screed segment is expected to reach US$ 13,726.3 million by 2034.
  • By end-use, the residential segment is set to hold a market share of 49.6% in 2024.
  • East Asia is expected to account for a significant share of about 26.3% in 2034.
  • The United States is anticipated to reach US$ 2,461 million by 2034.
  • China is projected to attain a valuation of US$ 2,850 million by 2034.

“The global floor screed market is expected to rise due to increased infrastructure, real estate investment, and a shift toward beautiful buildings with improved interiors. The rising disposable income and preference for high-quality flooring are projected to boost demand, taking the market to a profitable position due to the rise of the middle class and increased housing & commercial space.” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) 

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Competitive Landscape

Key players are focusing on expanding domestic production and technology areas of floor screed to provide cost-efficient solutions to consumers. They are also investing in developing new products and further innovating existing ones to meet end-user demand.

Key Companies Profiled

  • Sika Group
  • Saint-Gobain Weber
  • Holcim
  • Edilteco Group
  • Flexcrete
  • Colmef Monneli
  • Terraco
  • Knauf
  • Pretoria Portland Cement
  • Pidilite Industries Ltd.
  • Anhydritec Ltd.
  • Uzin Utz SE
  • Cemex
  • Flowcrete Group Ltd.
  • Sto SE
  • UltraTech Cement
  • Mapei
  • Ronacrete

Recent Developments-

  • In May 2023, Sika acquired MBCC Group, formerly BASF Construction Chemicals. The acquisition is expected to support Sika’s growth and market penetration in Eastern Canada. 
  • In March 2021, CEMEX launched a Supaflo® Rapide self-smoothing, leveling screed with significant drying time and sustainability solutions. 

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Floor Screed Market Segmentation by Category

By Material Type:

  • Cementitious Screed
  • Calcium Sulphate Screed
  • Synthetic Resin Screed

By Floor Thickness:

  • Less than 30mm
  • 30mm to 60mm
  • Above 60mm

By Delivery Method:

  • Bags
  • Silos
  • Transmix Trucks
  • Pump Trucks
  • Ready-mix Trucks
  • Others

By Screed Type:

  • Bonded Screed
  • Unbonded Screed
  • Floating Screed
  • Flowing Screed
  • Heated Screed

By End-use:

  • Residential
  • Commercial
  • Industrial

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

Authored by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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