Luton, Bedfordshire, United Kingdom, March 01, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Decorative Concrete Market.
The global decorative concrete market is expected to grow at 6.5% CAGR from 2023 to 2029. It is expected to reach above USD 27.14 billion by 2029 from USD 15.4 billion in 2022.
Decorative concrete is defined as the use of concrete to improve the aesthetics of a structure. Concrete can be transformed into decorative concrete using various materials applied during the pouring phase or after the concrete has been set. Decorative concrete's aesthetic qualities and its capacity to handle heavy traffic loads and harsh weather conditions are major growth enablers for the business. The transformation of concrete into decorative concrete is accomplished in various ways, including the addition of a wide range of materials during the pouring process and the inclusion of many colors to improve the attractiveness of the final finished goods.
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Recent Development
- In September 2020, the acquisition of Ideal Work (Italy), a company specialising in decorative flooring solutions, by Arkema strengthens Bostik. This project fits nicely with Arkema's focused adhesives growth plan, which is based on cutting-edge technologies that precisely complement Bostik's current construction offering.
- In 2020, CEMEX launched Vertua, its brand of low carbon ready-mix concrete.
- In 2020, Arkema strengthens Bostik with the acquisition of Ideal Work (Italy), a decorative flooring technology company. This project fits nicely with Arkema’s focused adhesives growth plan, which is based on cutting-edge technologies that precisely complement Bostik’s current construction offering.
The North American area held 35% the greatest market share.
Technological advances in the architecture and construction industry are driving the growth of the decorative concrete market in North America. Single-family homes are becoming increasingly popular in the United States, particularly in Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina. A key element driving the decorative concrete industry is the use of ornamental and aesthetic appeal flooring solutions in residential applications.
Key Trends
- Increasing remodeling and renovation activity
- Increasing tourist activity and investment in the hospitality industry
- Rising infrastructure development and building activity
- Increasing political stability and the presence of key industry players
- Improvements in government reforms and an increase in foreign investment
- Use of nanotechnology in the manufacturing process is anticipated to create lucrative opportunities for the market growth.
Incorporating green building concepts in newer buildings increases the growth of the market.
The rising popularity of the use and inclusion of green building elements in newer buildings is driving the decorative concrete market. Many environmentally concerned developers are incorporating various forms of concrete into buildings to make them safer, cleaner, friendlier to the environment, and more energy-efficient (in that they use less energy than previous generations of buildings.)
The world is quickly urbanizing. In developing countries, this is especially true. As these countries urbanize, their middle classes expand, and they expect, among other things, to live and work in structures that are safer, cleaner, and more energy-efficient. In India and China, this has been a recent trend. The need for ornamental concrete is being driven by this occurrence. This is also the case for rapid growth in the market.
Remodeling activities in non-residential buildings to drive the product demand.
Over the predicted timeframe, increasing remodeling and renovation operations in non-residential spaces will amplify product penetration. Hoteliers are remodeling properties in order to increase their client base and improve the guest experience. For example, JW Marriot inaugurated a new hotel in Canberra, Australia in September 2019, with cutting-edge design highlights and polished concrete flooring, improving aesthetic attractiveness. Its adoption would be aided by increased investments from industry players in the retail sector and residential building. The residential sector is also expected to increase significantly, owing to constantly changing customer preferences for concrete flooring.
Report Scope:
| Report Attribute | Details |
| Market Size in 2029 | USD 27.14 billion by 2029 |
| CAGR | 6.5% (2023–2029) |
| Base Year | 2021 |
| Forecast Period | 2023–2029 |
| Historical Data | 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Product, End-User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The growing construction industry will almost certainly raise the demand for Decorative Concrete. |
| The decorative concrete market is likely to be driven by the growing acceptance of green construction concepts. |
Decorative Concrete Market Players
The decorative concrete market is dominated by a few globally established players, such as CEMEX, S.A.B. de C.V., DuPont, Heidelberg Cement AG, BASF SE, 3M Company, Sika AG, RPM International Inc., The Sherwin Williams Company, PPG Industries, Inc., Huntsman International LLC, Arkema SA, and Ultratech Cement Limited amongst others.
Browse In-depth Market Research Report (135 Pages) on Decorative Concrete
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Key Market Segments: Global Decorative Concrete Market
Decorative Concrete Market by Type, 2020-2029, (USD Million) (Kilotons)
- Stamped Concrete
- Stained Concrete
- Colored Concrete
- Polished Concrete
- Epoxy Concrete
- Concrete Overlays
Decorative Concrete Market by Application Type, 2020-2029, (USD Million) (Kilotons)
- Walls
- Floors
- Patios
Decorative Concrete Market by End Use Type, 2020-2029, (USD Million) (Kilotons)
- Residential
- Non-Residential
Decorative Concrete Market Dynamics
Drivers
Major factors that are expected to boost the growth of the decorative concrete market in the forecast period are as follows:
- Rise in the demand for stamped concrete for flooring applications
The increased need for stamped concrete, particularly for hotel flooring and other commercial structures. This is mostly owing to the Self-Leveling Concrete's several advantages, including strong aesthetic appeal for floors, as well as resistance to sliding and wear and tear caused by heavy footfall which is one of the main factors driving up the decorative concrete market.
- Growing remodeling and renovation operations
Changing architectural and design trends are leading to more remodelling and renovation operations to improve the beauty of indoor and exterior housing structures, which is favourably impacting the market growth.
- Improving government reforms
Emerging-market governments are actively spending and focusing on the development of commercial and industrial infrastructures by executing different programmes and assigning projects, accelerating the decorative concrete market expansion.
Opportunities
In addition, the rise in the population and rapid urbanization interpreting to great number of construction projects is further estimated to provide potential opportunities for the growth of the decorative concrete market in the coming years.
Restraints/Challenges
On the other hand, it is anticipated that the increase in treatment costs will further restrain the development of the decorative concrete market during the intended era. The lack of knowledge about ornamental concrete in developing nations, however, could pose additional obstacles to the market's expansion in the near future.
Key Question Answered
- What are the growth opportunities related to the adoption of decorative concrete market across major regions in the future?
- What are the new trends and advancements in the decorative concrete market?
- Which product categories are expected to have highest growth rate in the decorative concrete market?
- Which are the key factors driving the decorative concrete market?
- What will the market growth rate, growth momentum or acceleration the market carries during the forecast period?
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