New York, US, June 01, 2022 (GLOBE NEWSWIRE) -- Decorative Concrete Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Decorative Concrete Market Information by Type, Application, End Use, and Region - Forecast till 2028”, the market is estimated to grow at a 6.2% CAGR to reach USD 24.18 Billion by 2028.
Market Synopsis
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.
Various materials are mixed into liquid concrete to create decorative concrete. After the concrete has hardened, these materials can be added. Hotels, office buildings, malls, and other commercial structures spend substantial money on decorative concrete to maintain their cutting-edge facilities' visual stature and aesthetics. The need for ornamental concrete is predicted to rise as the construction industry develops.
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Report Scope:
| Report Attribute | Details |
| 2028 Market Size | USD 24.18 Billion |
| CAGR | 6.2% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021–2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End Use, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing in demand of growing glass industry |
| Ceramic & tiles industry |
Market Competitive Landscape:
The eminent contenders in the decorative concrete market are:
Sika AG (Switzerland)
LafargeHolcim Ltd (Switzerland)
Boral Limited (Australia)
Deco-Crete, LLC (U.S.)
Bomanite India (India)
BASF SE (Germany)
HeidelbergCement AG (Germany)
Mcknight Custom Concrete, Inc.(U.S.)
Seacoast Concrete (U.S.)
Market USP Covered:
Market Drivers:
The decorative concrete market is likely to be driven by the growing acceptance of green construction concepts and increasing urbanization in the coming years. In addition, the market is expected to develop in the coming years due to the rising acceptance of decorative concrete in the residential and non-residential sectors and the increased construction of new residential and commercial spaces. Furthermore, the market need for long-lasting, sturdy, and low-maintenance flooring systems is expected to grow. The demand for remodeling and renovation activities is expanding, as is the need for stamped concrete for flooring, and the demand for green buildings is increasing. As a result of focused expenditures on residential and commercial infrastructure development by different government agencies in emerging nations, the decorative concrete sector is expected to grow quicker in the coming years.
Market Restraints:
Market limitations are likely to include factors such as a lack of knowledge of decorative concrete in underdeveloped countries and the cost of treatment. One of the tripping barriers to expanding the researched market is excessive capital expenditure.
Due to the obvious rapid expansion in the building industry, the decorative concrete market has a bright future. People in certain undeveloped or underdeveloped countries, on the other hand, are less aware of decorative concrete applications and the advantages they provide. In emerging economies in APAC and South America, there is a lack of awareness regarding the durability, lifespan, and adaptability of decorative concrete materials.
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COVID 19 Analysis
The pandemic's impact on demand is expected to be felt in the worldwide decorative concrete market. COVID-19 had little influence on the decorative concrete market in 2020, and demand is likely to fall nominally. Furthermore, the market is affected by the COVID-19, which has slowed raw material production, hampered trade movements, disrupted supply chains, decreased construction demand, and lower demand for new projects.
The acquisition of businesses such as that of The North American cement grinding aids and additives business of Chryso has been bought by Euclid Chemical Company, a renowned concrete and masonry construction supplies manufacturer, is a common theme observed in the market. The transaction's terms were not disclosed. The acquired technology is offered to cement makers to improve cement performance and minimize CO2 emissions during manufacturing. Cement is a crucial component of concrete, the most frequently used building material. Admixtures, fiber reinforcement, concrete repair solutions, flooring materials, ornamental concrete systems, and more are all available from Euclid Chemical.
Market Segmentation
By Type
The stamped concrete segment has the greatest market share. Different types of decorative concrete are weaker and less durable than stamped concrete. As a result, it lasts longer. It's also less expensive than other forms of ornamental concrete.
By Application
The residential sector has the largest market share. The fact that the world is quickly urbanizing, especially in rich countries, explains this. As a result, many varieties of ornamental concrete for various housing units have grown in popularity and demand.
By End User
The flooring sub-segment had the highest market share. The decorative and esthetic appeal of flooring systems in residential applications has been a key factor driving the decorative concrete market.
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Regional Insights
The North American area held the greatest market share. Technological advances in the architecture and construction industry are propelling the development of the decorative concrete market in North America. Single-family homes are becoming more popular in the United States. Furthermore, residential building is strong in North America, owing to high housing need due to rising population demand for homes and the trend of nuclear families, which is expected to increase demand for decorative concrete throughout the projection period.
Decorative concrete for residential applications is expected to expand in demand in Asia-Pacific during the forecast period due to substantial expansion in residential construction in nations. Infrastructure developments influence regional market demand with huge shifts from rural to urban areas in different countries. Furthermore, due to large-scale development projects and rising expenditure on architectural residential spaces, China is the region's top consumer of decorative concretes. Europe is experiencing a solid recovery in construction activity, which is projected to drive growth for decorative concrete in the coming years.
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