At 5.5% CAGR, Decorative Concrete Market Size to Hit USD 20.2 Bn, Globally by 2028 | Decorative Concrete Industry Trends, Share, Growth Rate, Value, Analysis & Forecast Report By Zion Market Research

NEW YORK, Aug. 1, 2022 /PRNewswire/ -- As per Zion Market Research study, the global decorative concrete market size was worth around USD 14.7 billion in 2021 and is estimated to grow to about USD 20.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.5% over the forecast period.

Decorative Concrete Market: Overview

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Key Industry Insights & Findings of the Decorative Concrete Market Reports:

• As per the analysis shared by our research analyst, the Decorative Concrete Market is expected to grow annually at a CAGR of around 5.5 % (2022-2028).
• Through the primary research, it was established that the Decorative Concrete Market was valued at approximately USD 14.7 billion in 2021 and is projected to reach roughly USD 20.2 billion by 2028.
• The main drivers of the market growth for decorative concrete over the forecast period include rising demand for green buildings, renovation projects, a rise in consumer interest in interior design, and quickly expanding urbanization.
• In 2021, the North American area held the greatest market share. The development of technology in the building and construction sector is what is fueling the growth of the decorative concrete market in North America.
• The market for decorative concrete is anticipated to grow significantly through 2028 because of the rising popularity of polished concrete, which had over 18% market share in 2021.

Zion Market Research published the latest report titled "Decorative Concrete Market By Type (Stamped Concrete, Stained Concrete, Concrete Overlays, Colored Concrete, Polished Concrete, Epoxy Concrete, and Others (Concrete Dyes, Engravings, And Knockdown Finish)), By Application (Floors, Walls, Driveways & sidewalks, Patios, Pool Decks, and Others (including Ceilings and Countertops)), By End-Use (Residential and Non-residential), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.

Industry Dynamics:

Decorative Concrete Market: Growth Drivers

• A rise in the demand for stamped concrete for flooring projects to drive market growth.

One of the main reasons for the increase in demand is the increased demand for stamped concrete, particularly for the construction of hotel flooring and other commercial structures. This is primarily because stamped concrete has many advantages, including a good aesthetic appeal for floors, resistance to sliding, and resilience to wear & tear brought on by high foot traffic. In the Middle East and Africa as well as the Asia Pacific, a major increase in demand is anticipated. It is anticipated that significant investments in housing constructions and quick industrialization in these areas' developing nations will increase demand for stamped concrete. The aesthetic appeal of a building or other structure is enhanced with stamped concrete, which will increase demand for it in the years to come. All of these factors are projected to drive the global decorative concrete market growth.

Decorative Concrete Market: Restraints

• Price volatility for raw commodities to restrict the market growth.

Prices for the energy and raw materials used to make decorative concrete are erratic, and this tendency is expected to persist during the projected period. The fluctuating price of crude oil and petroleum could push up the price of raw materials, which would then push up the price of decorative concrete coatings, color pigments, cement, adhesives, and sealants. As a result, the cost of decorative concrete is directly impacted by the cost of these components. Vendors raise the price of their goods or cut their profit margins in response to rising raw material costs, which will have a negative impact on the expansion of the market.

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Decorative Concrete Market: Opportunities

• An increase in remodeling and renovation projects worldwide to offer growth avenues for market growth.

The demand for decorative concrete will increase during the projected year due to an increase in remodeling and renovation activities in non-residential spaces. The structures of their establishments are also being renovated by hotel and resort owners in an effort to increase their clientele and improve the lodging quality. For instance, JW Marriott debuted a new hotel in Canberra, Australia, in September 2019. The hotel boasts the newest design highlights and polished concrete flooring, which enhances the visual appeal of the floors. The industry's growing investments in residential development and retail are also anticipated to accelerate the adoption of decorative concrete.

Decorative Concrete Market: Challenges

• In emerging economies, there is a lack of knowledge regarding decorative concrete.

The market for decorative concrete is expected to rise thanks to the building sector's rapid expansion. People are less aware of these beautiful concrete uses and the advantages they provide, nevertheless, in several emerging or undeveloped APAC, African, and South American nations. In rising economies in APAC and South America, there is a lack of knowledge regarding the toughness, endurance, and adaptability of decorative concrete materials and solutions. Customers must be made aware of the good effects and advantages of decorative concrete on the environment and how it may support a healthy lifestyle in order for this business to grow.

Global Decorative Concrete Market: Segmentation

• The global decorative concrete market is segregated on the basis of type, application, end-use, and region.

By type, the market is divided into stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy concrete, and others (including concrete dyes, engravings, and knockdown finish). Over the course of the forecast period, the stamped concrete sector is anticipated to hold a bigger market share in the decorative concrete market worldwide. This market is growing since stamped concrete is being used more frequently by contractors for patios, driveways, pathways, and pool decks. With its low cost and excellent durability, stamped concrete is becoming more and more popular, which is supporting the segment's revenue growth. The usage of stamped concrete for large-area flooring solutions in the construction of residential and commercial complexes is another factor fueling the growth of this market. The popularity of stamped concrete is anticipated to expand due to other crucial considerations including ease of installation and lower labor costs. Additionally, stamped concrete's sustainability and accessibility are raising demand for it.

Based on end-use, the market is divided into non-residential and residential. By 2028, the non-residential sector is anticipated to account for a sizable percentage of the market with to growth of almost 5.6 percent.

By application, the global decorative concrete market is divided into floors, walls, driveways & sidewalks, patios, pool decks, and others (including ceilings and countertops). By 2028, the flooring sector will dominate the decorative concrete market globally. With its lifespan, sturdiness, and durability, decorative concrete can take the place of standard flooring solutions (such as tiles and plywood). Popular flooring applications for decorative concrete include its attractive appearance and ease of upkeep. The segment's income is growing as decorative concrete is used more frequently to create floors and walls inside and outside of buildings. With the availability of a wide variety of decorative concrete in various textures based on consumer preferences for aesthetically pleasing floors and walls, its use is expanding. This is anticipated to provide this segment's growth a significant boost.

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List of Key Players in Decorative Concrete Market:

• S.A.B. de C.V.
• CEMEX
• HeidelbergCement AG
• DuPont
• Ultratech Cement Limited
• 3M Company
• BASF SE
• RPM International Inc.
• Sika AG
• PPG Industries Inc.
• The Sherwin Williams Company
• Arkema SA
• Huntsman International LLC
• Boral Limited.

Key questions answered in this report:

• What are the growth rate forecast and market size for Decorative Concrete Market?
• What are the key driving factors propelling the Decorative Concrete Market forward?
• What are the most important companies in the Decorative Concrete Market Industry?
• What segments does the Decorative Concrete Market cover?
• How can I receive a free copy of the Decorative Concrete Market sample report and company profiles?

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Recent Developments

• In September 2020, Arkema enhances Bostik by acquiring Ideal Work (Italy), a company specializing in decorative flooring technologies. This initiative is consistent with Arkema's focused growth strategy for adhesives and is built on cutting-edge technologies that perfectly complement Bostik's current construction market offering. Bostik will be able to broaden its product line and establish itself in a niche market for flooring renovation and decoration thanks to Ideal Work's solutions, which complement current product lines in the fields of floor preparation and flooring adhesives.

Regional Dominance:

·  North America will dominate the global market for decorative concrete due to increased construction activity.

The development of technology in the building and construction sector is what is fueling the growth of the decorative concrete market in North America. Particularly in Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina, single-family homes are increasing across the US. One of the main market drivers for decorative concrete has been the use of flooring systems with aesthetic appeal and decorative elements in residential applications. It is projected that increasing regional government investments in the construction of commercial buildings will fuel the growth of the North American industry.

Global Decorative Concrete Market is segmented as follows:

Decorative Concrete Market: By Type Outlook (2022-2028)

• Stamped Concrete
• Stained Concrete
• Concrete Overlays
• Colored Concrete
• Polished Concrete
• Epoxy Concrete
• Others (include concrete dyes, engravings, and knockdown finish)

Decorative Concrete Market: By Application Outlook (2022-2028)

• Floors
• Walls
• Driveways & sidewalks
• Patios
• Pool decks
• Others (include ceilings and countertops)

Decorative Concrete Market: By End-Use Outlook (2022-2028)

• Residential
• Non-residential

Decorative Concrete Market: By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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