Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Global Decorative Concrete Market by Type (Stamped, Stained, Colored, Polished, Epoxy, Concrete Overlays), Application (Floors, Walls, Driveways & sidewalks, Pool decks), End-use Industry (Residential, Non-residential), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The market size for Global Decorative concrete Market size is projected to grow from USD 18.3 billion in 2023 to USD 24.3 billion by 2028, at a CAGR of 5.8% from 2023 to 2028.
The robust growth of the decorative concrete market is closely tied to the global trend of heightened demand for renovation and remodeling endeavors. As societies worldwide engage in upgrading and enhancing existing structures, the need for construction materials that offer durability and minimal upkeep becomes increasingly pronounced. Decorative concrete, with its versatile applications and aesthetic appeal, emerges as a key solution to fulfill these requirements. One of the driving factors behind the expanding market is the growing preference for construction products that not only provide structural strength but also contribute to the visual attractiveness of spaces. Decorative concrete, in various forms such as stamped, stained, or polished, meets this demand by offering a wide range of options for enhancing the appearance of floors, walls, driveways, and other surfaces.
The decorative concrete market faces challenges due to raw material price fluctuations, impacting operational costs and profit margins. However, emerging economies' increasing demand for aesthetically pleasing and durable construction materials provides a significant growth opportunity. Despite its potential, the market contends with the challenge of low awareness regarding the benefits and applications of decorative concrete, necessitating focused efforts to educate consumers and unlock its full potential.
By Type, Polished concrete segment to account for highest growth rate
The polished concrete segment is anticipated to be the fastest-growing segment in the decorative concrete market by 2028. With its high gloss finish and aesthetic appeal, polished concrete flooring has emerged as a popular choice, serving as a cost-effective alternative to materials like marble, granite, tile, linoleum, or coated concrete. It is particularly favored for its ability to withstand high foot traffic, low maintenance requirements, and resistance to moisture. The application of polished concrete extends across various settings, including retail stores, hotels, restaurants, and residential spaces.
By Application, floors segment to account for the highest CAGR during the forecast period
The "floors" segment is expected to be the fastest-growing segment in the decorative concrete market from 2023 to 2028 due to its versatile application and widespread use in both residential and non-residential settings. Concrete floors offer a stylish and contemporary flooring solution. They are easy to install, especially when there's an existing concrete slab for staining, polishing, or applying decorative coatings. The demand for aesthetically appealing, durable, and cost-effective flooring applications is driving the growth of the floors segment in the decorative concrete market.
By End Use Industry, residential segment to account for the highest CAGR during the forecast period
The residential segment is anticipated to be the fastest-growing segment in the decorative concrete market from 2023 to 2028. This growth is attributed to the rising adoption of decorative concrete in new residential constructions, as well as in renovation and restructuring projects. The application of decorative concrete on residential floors significantly enhances aesthetic appeal. Moreover, decorative concrete offers flooring solutions that are both safe and slip resistant. The increasing preference for stylish and functional interior spaces in residential settings is propelling the demand for decorative concrete in the residential segment.
APAC to be the fastest growing region in the Decorative concrete market
The Asia-Pacific (APAC) region is expected to exhibit the highest compound annual growth rate (CAGR) in the decorative concrete market from 2023 to 2028. This growth is driven by emerging economies in APAC, experiencing substantial demand for decorative concrete. The expansion of the construction industries, propelled by rapid economic development and government initiatives toward infrastructural development, is a key factor. The increasing population in these countries contributes to a robust customer base.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 317 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $18.3 Billion |
| Forecasted Market Value (USD) by 2028 | $24.3 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Stamped Concrete Type Segment to Lead Decorative Concrete Market During Forecast Period
- Floors Application Segment to Dominate Decorative Concrete Market During Forecast Period
- Non-Residential Segment to be Larger End-use Industry in Decorative Concrete Market During Forecast Period
- North America Accounted for Largest Share of Decorative Concrete Market in 2022
Premium Insights
- Asian Economies to Witness Higher Growth in Decorative Concrete Market - Attractive Opportunities for Players Decorative Concrete Market
- North America Decorative Concrete Market, by Application and Country, 2022 - US Accounted for Largest Share of Market in Terms of Volume
- Decorative Concrete Market, by Country - Decorative Concrete Market in China Projected to Grow at Highest CAGR
Market Dynamics
Drivers
- Increasing Demand for Stamped Concrete for Flooring Applications
- Demand for Resource-Efficient and Environmentally Friendly Green Buildings
- Investments in Infrastructure Industry
- Rise in Population and Rapid Urbanization
Restraints
- Volatility in Raw Material Prices
- Higher Cost Than Traditional Alternatives
Opportunities
- Consumer Demand for Customized, Visually Appealing Concrete Solutions
- Rise in Demand from Emerging Economies
- Increasing Renovation and Remodeling Activities
Challenges
- Lack of Awareness About Decorative Concrete in Emerging Economies
- Non-Availability of Skilled Labor in Decorative Concrete Market
Technology Analysis
- Glow in the Dark Concrete
- Digital Printing on Concrete
- Vertical Stamped Concrete
Case Study Analysis
- Decorative Concrete Offered Sustainable Solution
- Decorative Concrete Helped Grocery Store Become More Eco-Friendly
Companies Profiled
- PPG Industries
- BASF
- The Sherwin-Williams Company
- RPM International
- Sika AG
- Boral Limited
- Ultratech Cement Limited
- Cemex
- Heidelbergcement AG
- 3M Company
- The Euclid Chemical Company
- Holcim
- Palermo Concrete, Inc.
- Chryso
- Bomanite International Limited
- Elite Crete Systems
- Neocrete Technologies Pvt Ltd
- Crossfield Products Corp.
- Parchem Construction Supplies
- Tarmac
- Hicrete Decorative Systems Pvt. Ltd.
- Mattingly Concrete Inc.
- Aps Construction Systems (International) Ltd.
- Mapei Inc.
- Vulcan Materials Company
For more information about this report visit https://www.researchandmarkets.com/r/8sqe2e
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
