Vancouver, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- The global decorative concrete market size was USD 16.74 Billion in 2020 and is expected to reach a market size of USD 26.99 Billion at a steady CAGR of 6.1% in 2028, according to latest analysis by Emergen Research. Decorative concrete is known for its strength, finish, and affordability. Decorative concrete is fast becoming a popular and cost-effective option to enhance décor at retail outlets and locations, and restaurants and showrooms. Rising construction activities in residential sectors, along with growing population and rapid urbanization are other key factors driving growth of the market.
Activities in the construction industry are being revived in countries across the globe, and rising investments in smart cities in developed and developing countries are major factors expected to propel growth of the global decorative concrete market to a significant extent going ahead. Governments are investing in industrial and commercial infrastructure in developing economies and implementing various projects and programs related to infrastructure development and renovation. Decorative concrete has been gaining steady traction for applications such as floors, patios, pool decks, countertops, and entryways, among others. The material can also be used in large homes for installing elaborate concrete driveways to renovating rooms and interiors.
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Concrete overlays can restore damaged and distressed concrete slabs and save time, costs, and effort for demolition and replacement. In addition, decorative concrete renovation does not require the four-week curing period for new cement. Resurfacing instead of replacing of floors also saves a considerable amount of time and money. Decorative concrete is also environment friendly. Concrete is a sustainable green material as opposed to marble, and increasing concerns related to environmental impact and climate change is expected to support demand for decorative concrete in future. Decorative concrete is durable and energy-efficient. It reduces the need for HVAC equipment and lowers electricity consumption and bills.
Key Highlights of Report
- In July 2020, CEMEX launched Vertura, which is a range of low-carbon concrete. The product has been designed to reduce carbon dioxide and offer carbon-neutral concrete products. The product was launched in the U.S. after successful launch in Europe and Mexico. The range consists of Vertura Plus, Vertura Classic, and Vertura Ultra.
- Stained decorative concrete is used to stain colors deep into concrete slabs. These materials come in two form: acid and water-based stains. Acid stains result in rich and uneven stains, while water-based stain results in even and brighter stains in concrete floors.
- Decorative concrete pool decks are gaining traction as this material offers various design possibilities. Decorative concrete can help customers put colored concrete or diamond pattern in their pool deck. The material is easy to maintain and only requires occasional cleaning and resealing.
- Non-residential segment accounted for largest revenue share among the end-use segments in 2020. Increasing remodeling activities in hotels and cafes to increase consumer footfalls and consumer base and improve accommodation experience is driving the growth of this segment. For instance, JW Marriot opened new hotel in Canberra, Australia, which has polished concrete floorings to enhance the visual appeal of the hotel.
- North America has been accounting for the largest revenue share in the global decorative concrete market due to growing demand for single-family homes in various states in the U.S. The trend of nuclear families in countries in the region and preference for more cost-effective housing, flooring, walls, patios, and other components will expected to boost growth of the market in the region going ahead.
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Emergen Research has segmented the global decorative concrete market on the basis of type, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Stained Concrete
- Colored Concrete
- Stamped Concrete
- Epoxy Concrete
- Polished Concrete
- Concrete overlays
- Others
- Application Outlook (Revenue, USD Billion; 2021–2028)
- Walls
- Floors
- Pool Decks
- Driveways & Sidewalks
- Patios
- Others
- End-use Outlook (Revenue, USD Billion; 2021–2028)
- Residential
- Non-residential
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- Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest Of MEA
- North America
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